In a change of course marked by the search for a more economical and quiet lifestyle in the United States, a notable number of millennials have chosen to leave traditionally Democratic states, known for their high costs of living such as New York and California, to settle. in Republican-leaning states, where the pace of life is slower and access to housing is more affordable, Fox Business reported.
This phenomenon has been detailed by the recent millennial migration study by HireAHelper, which analyzes data from the United States Census to reveal movement trends in 2023.
Although most millennials decided to stay in their current places of residence, those who moved showed a clear preference for red (Republican) states such as Texas, which attracted around 400,000 young people of this generation, and Montana, which experienced the largest positive net migration balance, with 95% more of this generation moving to the state than leaving it.
These places, according to the study, offer not only more affordable housing, but also a lifestyle that appreciates tranquility without giving up the comforts of nearby large cities.
Economic reasons and lifestyle changes topped the list of reasons for moving, including the desire for new or better homes, changing jobs, establishing a home, and finding cheaper housing. This last point has become particularly relevant as mortgage rates and rental prices continue to rise, marking the search for more affordable options as a trend since 2011.
Interestingly, while states like Texas and Montana see an increase in the millennial population, localities with more liberal policies such as New York, California, Massachusetts and Illinois face negative migration rates, indicating an exodus of the aforementioned generation, in search of a better balance of quality and cost of living.
At the metropolitan level, Tampa, Florida, was positioned as one of the most desirable destinations, followed by Las Vegas and Austin, Texas, once again highlighting the inclination towards states with a more conservative political and fiscal approach. On the other hand, metropolitan areas in New York, San Jose and Los Angeles saw higher numbers of millennials leaving those places.
This pattern suggests a significant shift in the priorities of millennials, who, facing economic challenges and high interest rates, are choosing to put down roots in states where the cost of living allows for greater financial freedom and a higher quality of life.
According to Miranda Marquit, spokesperson for HireAHelper, although the millennial generation is in a stage of life where settling down is natural, the current economic situation and high real estate prices will likely influence future moving decisions, possibly keeping many young adults in their current locations while they wait for an improvement in the housing market.