Brian J. Roberts is a freelance writer who’s been featured in Time, Inc., Entrepreneur, USA Today, CNBC, Huffington Post and others. Follow him here.
Millennials don’t have it easy. Despite being the most educated generation, we earn less than our predecessors.
Not to mention that the economy is slower, unemployment is higher and, between low wages and skyrocketing student loan debt, the “American Dream” seems more and more like a pipe dream to many. This dissatisfaction may be the reason so many millennials have an urge to get up and go; to live in new places and spaces.
As it turns out, that impulse to travel may not be so bad after all. Although the majority of people live within just 20 miles of their parents, spreading those wings and leaving the nest could make a lot of financial sense.
Growella, a media site for millennials, recently conducted a comprehensive study on the best cities for millennials in the U.S. The cities ranked based on data taken from more than 70 public, available resources, where they factored in everything from entry-level job wages to take home pay, commute time, nightlife and more. Based on the data, these are the five best cities for millennials looking to make every dollar count.
Durham, North Carolina
Durham, North Carolina ranked #1 for several reasons. Most notably, the availability of jobs is nearly 3 times higher than the average of all the cities they analyzed. In addition, Durham’s cost of living is 6% lower than average, the commute is typically a breeze and there’s an abundance of other millennials.
Pittsburgh, PA
Although salaries in Pittsburgh are on par with other cities, the cost of living is 11% lower than the national average. Who wouldn’t want an extra 11% after all the bills are paid? Pittsburgh residents also walk or take public transit to work―92% more than the average for similar cities―and if you did too, that’s an additional chunk of change you’d get to pocket (because we all know owning and maintaining a car isn’t cheap!)
Nashville, TN
When I was in Nashville a few weeks ago, my Lyft driver referred to Nashville as “Crane City” because of all the constant, new construction going on everywhere. Considering Nashville is growing by 100 people a day, all the new housing makes sense. They ranked 8th for overall strength of paycheck and job openings 42% higher than national averages. Plus, they have Hattie B’s hot chicken!
Des Moines, IA
With the 6th shortest commute time, job openings 41% higher than national averages and a paycheck strength in the top 10 of all the cities Growella ranked, there’s a lot to love about Des Moines. Compared to the other cities on the list, Des Moines doesn’t win in terms of name recognition, but it’s definitely a top contender based on all other factors.
Charlotte, NC
Did you know Charlotte is the second largest banking center in the United States? More importantly though, strength of paycheck ranks #7 here and job openings are almost 27% higher than national averages. Add to that there’s almost 300,000 other millennials here and the nightlife ranks at #11 and you have a sure fire recipe for millennial success.
You can view the entire list here.