When millennials move, it's typically for a task or in pursuit of a new way of life, according to a Mayflower analysis.
In Texas, Dallas is the most popular location for millennials, and the city is working to change its concerns and image to much better interest that younger generation.
What makes Dallas popular?
Dallas has been working to promote a healthy way of life for homeowners-- a big draw for millennials who seek outdoor adventure. The location has among the biggest park systems of any town.
There are more than 400 parks expanded over about 21,000 acres of land. The nearby River Legacy Parks and Arbor Hills Nature Preserve add to that number.
Some popular destinations in Dallas include the Bishop Arts District, Klyde Warren Park, NorthPark Center, Parliament bar and Uncle Uber's Sammich Shop.
Dallas has growing career opportunities
If many millennials are moving for a job, Dallas makes sense.
According to the Bureau of Labor Statistics, the unemployment rate for the Dallas-Fort Worth location in February was 4.3%, below the national average of 4.9%.
Looking at the specific counties that comprise the Dallas location, Denton County's unemployment rate sits at 3.9% while Dallas County was 4.5%-- the highest in the region, and still listed below the nationwide average.
And net growth of employment in the location between February 2016 and February 2017. The results show non-farm work in the Dallas area increased 3.5% during this time period, while the nationwide average was only 1.7%.
Stanley W. Suchman, an assistant commissioner for local operations for BLS's Southwestern Info Office, kept in mind Dallas was 2nd in the number of tasks added and the rate of development among the 12 largest cities in the nation.
The location exceeded job development in every industry consisted of on the report. The rate of growth by industry for the time period:
Education and health services-- 3.0%.
Financial activities-- 3.7%.
Government-- 1.8%.
Details-- 1.5%.
Leisure and hospitality-- 6.1%.
Manufacturing-- 0.5%.
Other services-- 4.9%.
Specialist and service services-- 4.2%.
Trade, transportation, and energies-- 3.6%.
According to the latest stats, millennials moving to the Dallas area searching for a job are likely to discover one.
City transforming itself.
The city has a goal of drawing in more millennial citizens and is taking actions to stimulate community development, according to a current press release from the Dallas Regional Chamber of Commerce.
Benefit is a significant draw for millennials, and the city intends to make living in Dallas more practical by motivating locations where homeowners can live within strolling range of home entertainment, dining establishments, and shopping.
This is one location in which the city might use some improvement. According to WalkScore.com, Dallas is mostly automobile reliant and ranks as the 24th most walkable big city in the nation. The University of Texas is helping the city research the circumstance to make recommendations for pedestrian-friendly improvement.
Millennials likewise tend to look for locations that are socially progressive.
The city aims to be not only progressive in its policies but likewise to cultivate a culture of addition. Dallas has a committed to increasing diversity and the environment of addition throughout the area.
Booming Real Estate Market.
The real estate market in the Dallas area has actually experienced significant growth over the last several years. This benefits those who own homes and gain from increasing equity, but it has actually been more troublesome for purchasers trying to find a great deal.
According to the House Buying Institute, the marketplace is beginning to support. While prices will likely continue increasing, it should be at a slower rate throughout 2017.
Home builders are focusing on filling the requirement for homes in the $300,000-$ 500,000 range, which has actually been underserved. This could indicate a greater selection of houses for young professionals thinking about relocating to the area and aiming to buy in an affordable variety.
The Dallas area already has a lot to use millennials, and with the city's commitments to organized development, it is most likely to remain at the see here top of their relocation list.