Houston was the ninth hottest destinations for Millennials who moved last year, according to a new survey from Mayflower.
Some of the main characteristics that survey respondents were looking for in their new cities were job opportunities, affordable cost of living and good housing options. According to CoreLogic, Millennials were also moving from states with higher cost of living and applying for mortgages in states with lower home prices, such as Texas.
Around 41 percent of those surveyed said that they are “vacation movers”, which means they are moving to a new city without intending to settle down permanently. About 74 percent said that they have a specific timeframe in mind for staying in their “vacation city.”
Millennials are mainly drawn to urban centers, with 69 percent living in a city or a suburb near the city. Approximately 81 percent of Millennials age 30 to 35 are living in a major city or suburb near a major city.
The survey also found that Millennials raised in urban areas move farther away from home with 31 percent moving 200 to 499 miles away, as opposed to only 14 percent of those raised in small towns or rural communities.
“Our Mayflower agents across the country are moving Millennials as they explore new cities, jobs and experiences, but our research shows that this generation does have plans to eventually settle down and choose a city as their permanent home,” said Melissa Sullivan, director, marketing communications, Mayflower. “The findings of this year’s Mayflower Mover Insights study reinforce what our agents are hearing every day – Millennials are excited about their new homes, jobs and adventures.”