Courtesy of sanantonio.uli.org
Untethered to family and enticed by new job opportunities, millennials are on the move. And, according to a new study, those moves are taking them to both San Antonio and the Lone Star State.
Texas is the No. 1 destination state for relocating millennials, according to an analysis of 2018 census data by the financial site SmartAsset
More than 192,200 people between the age of 25 and 39 moved to Texas in 2018, compared to just 138,700 who left. That gave the state a net migration of 53,600 — or 22,300 more than Washington, the state with the next-highest gain.
What's more, San Antonio is fourth most popular destination city for young movers, gaining 12,400 millennials in 2018. It lagged slightly behind Austin, which ranked third on the list. The Texas cities of Houston, Fort Worth, McKinney, Round Rock, Irving and Frisco were also among the top 25.
young adults have always tended to occupy their homes for shorter lengths than older Americans. However, the number of people between 25 and 34 on the move has increased 11.6% since 1960. Indeed, more than a third of U.S. millennials undertook a relocation in 2018.
Census trends from 2018 show that millennials are moving to spots that have no state income tax on salaries and wages. In addition to Texas and Washington, that includes Florida, Tennessee and Nevada — also top-10 states for millennial relocation.
According to a housing market analysis from Zillow Research
, millennials' movement comes down to their decision to delay major life milestones such as getting married and having children. That means many choose to settle into a permanent home later in life.
The top-ranked city for millennial migration on SmartAsset's list is Seattle, followed by Denver.
New York state is the No. 1 place young adults are leaving, losing 76,000 millennials in 2018.
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