When millennials move, it's often for a job or in pursuit of a new lifestyle, according to a Mayflower analysis.
In Texas, Dallas is the most popular destination for millennials, and the city is working to change its concerns and image to better appeal to that younger generation.
What makes Dallas popular?
Dallas has actually been working to promote a healthy way of life for homeowners-- a huge draw for millennials who seek outdoor experience. The location has one of the biggest park systems of any town.
There are more than 400 parks spread out over about 21,000 acres of land. The nearby River Tradition Parks and Arbor Hills Nature Maintain add to that number.
Some popular destinations in Dallas consist of the Bishop Arts District, Klyde Warren Park, NorthPark Center, Parliament bar and Uncle Uber's Sammich Store.
Dallas has growing career chances
Dallas makes sense if many millennials are moving for a task.
According to the Bureau of Labor Stats, the unemployment rate for the Dallas-Fort Worth location in February was 4.3%, below the nationwide average of 4.9%.
Looking at the private counties that comprise the Dallas area, Denton County's joblessness rate sits at 3.9% while Dallas County was 4.5%-- the highest in the area, and still listed below the national average.
And net development of work in the area in between February 2016 and February 2017. The results show non-farm work in the Dallas location increased 3.5% during this time span, while the nationwide average was only 1.7%.
Stanley W. Suchman, an assistant commissioner for regional operations for BLS's Southwestern Info Workplace, noted Dallas was second in the number of tasks included and the rate of development among the 12 biggest cities in the country.
The location exceeded task development in every industry included on the report. The rate of growth by industry for the time span:
Education and health services-- 3.0%.
Financial activities-- 3.7%.
Government-- 1.8%.
Info-- 1.5%.
Leisure and hospitality-- 6.1%.
Production-- 0.5%.
Other services-- 4.9%.
Specialist and organisation services-- 4.2%.
Trade, transport, and energies-- 3.6%.
According to the latest statistics, millennials moving to the Dallas area in search of a task are most likely to discover one.
City transforming itself.
The city has a goal of drawing in more millennial locals and is taking steps to spur neighborhood advancement, Read More Here according to a recent 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 encouraging locations where homeowners can live within walking distance of home entertainment, dining establishments, and shopping.
This is one area in which the city might use some enhancement. According to WalkScore.com, Dallas is mostly car dependent and ranks as the 24th most walkable big city in the nation. The University of Texas is assisting the city research the scenario to make suggestions for pedestrian-friendly improvement.
Millennials also tend to look for locations that are socially progressive.
The city aims to be not just progressive in its policies but likewise to promote a culture of addition. Dallas has a devoted to increasing diversity and the environment of inclusion throughout the area.
Growing Housing Market.
The real estate market in the Dallas area has experienced significant growth over the last a number of years. This benefits those who own homes and take advantage of increasing equity, however it has been more troublesome for purchasers trying to find a good deal.
According to the Home Purchasing Institute, the marketplace is starting to stabilize. While prices will likely continue rising, it must be at a slower rate throughout 2017.
Home builders are concentrating on filling the need for homes in the $300,000-$ 500,000 range, which has been underserved. This see this could mean a greater selection of homes for young professionals interested in moving to the area and wanting to buy in a budget friendly variety.
The Dallas location currently has a lot to provide millennials, and with the city's commitments to planned growth, it is most likely to remain at the top of their relocation list.