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Today with technology and the Interweb, a lot of people are no longer tied to an office and can live/work anywhere they want.
^^^ This...I envy them from this perspective. Every year working remotely becomes more and more acceptable. This is what has driven up costs in some places for generation in some places and down in others. There have been many times I wantrds to move somewhere more remote and with a lower COL, but couldn't because of thie job. Technologisy, competition for workers and social mores have changed.
Apparently they're moving to smaller cities though. I've read that Sacramento is the #1 destination for ex-Bay Area residents. By extension, Reno, Nevada and Boise, Idaho get a lot of them too.
I don't think cities with populations of 5,000 and less have been booming in a while...this isn't a recent development.
Probably not, but that's my point. Millennials aren't moving there. H*ll, Sacramento is still 501,000 people in an MSA of 2.66 million, almost the same size as Denver. Boise, ID is 228,000 in an MSA of 700,000, again not a small town. Reno has ~250,000 people in an MSA of ~450,000.
What confuses me is why Houston and Las Vegas are in the list of cities millennials are moving away from while Los Angeles and Seattle are in the list of cities millennials are moving *to*.
Phoenix being in the *moving to* list doesn't surprise me one bit, but I wonder why Las Vegas and Houston aren't part of that list as well.
To answer your question (or, give my 2 cents on it...as I could be wrong), the #1 reason a millennial will move anywhere at all is because of their job/career.
So while Vegas and Houston have cheaper COL than LA and Seattle, we'll still go where we can actually get a job. The COL comes second to gainful employment.
Today with technology and the Interweb, a lot of people are no longer tied to an office and can live/work anywhere they want.
Not really true.
I work in IT and have held eight jobs with eight different employers of varying size across various economic sectors. None really allowed significant remote work. The onus for most companies is still to have people "under the thumb" in office and that "butt in seat" time on company property is more valuable than the flexibility of remote work.
I work in IT, so jobs tend to be more concentrated in larger metros than something like nursing or K-12 education. With that said, my experience is that most metros below a million or so just don't have much in the way of IT employment opportunity. Pretty much anything available is through the regional health system, perhaps one other employer or government. If you lose your job, you may very well need to move.
Unless you're a local or have some sort of area ties, these places are a tough sell for a Millennial from a career perspective.
I don't think cities with populations of 5,000 and less have been booming in a while...this isn't a recent development.
Quote:
Originally Posted by Katarina Witt
Probably not, but that's my point. Millennials aren't moving there. H*ll, Sacramento is still 501,000 people in an MSA of 2.66 million, almost the same size as Denver. Boise, ID is 228,000 in an MSA of 700,000, again not a small town. Reno has ~250,000 people in an MSA of ~450,000.
The minimum threshold population to be a viable town has increased, and a lot of small towns aren't doing so well, but the medium sized metros seem to be doing pretty well. Particularly in the midwest, a lot of the fastest growing areas are the smaller / medium cities. For instance in MO, Columbia and Springfield / Branson are growing pretty dang fast while KC and St. Louis are lagging behind. The small towns are declining.
Quote:
Originally Posted by tomadwood86
To answer your question (or, give my 2 cents on it...as I could be wrong), the #1 reason a millennial will move anywhere at all is because of their job/career.
So while Vegas and Houston have cheaper COL than LA and Seattle, we'll still go where we can actually get a job. The COL comes second to gainful employment.
If that were true we'd have more people moving to the north plains area and they would be getting the heck out of Florida.
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