Study: Maryland, Virginia Millennials Spending Big Bucks on Fast Food
LANHAM, Md. (WNEW) — What guilty pleasures are young people spending their money on? Alcohol, caffeine and junk food, according to a new report.
A study by personal finance company Level Money examined spending by millennials — people ages 18 to 35 — and found that the younger generation is shelling out hundreds of dollars per year on vices such as coffee, booze and fast food.
The report shows that two states in the D.C. area — Maryland and Virginia — rank in the top 5 in the country when it comes to spending money on fast food.
Millennials in Virginia are spending an average of $971 per year on fast food, which ranks fourth in the country. Maryland millennials aren’t far behind, spending an average of $967 on trips to the likes of McDonald’s, Chipotle, and Taco Bell.
More than 30 percent of young people living in Maryland and Virginia buy fast food at least twice per week, according to the report.
The top fast-food spending millennials in the country reside in the Midwest. Oklahoma ($1,194) tops the list, with neighbors Kansas ($1,040) and Texas ($978) rounding out the top 3.
The country’s biggest coffee-drinking millennials live in the Northeast. Maine ($307), Massachusetts ($277), New Hampshire ($273), and Connecticut ($245) lead the way, with Washington state ($245) tying for the fourth spot.
When it comes to hitting the bar, Massachusetts ranks at the top. Colorado, New York, Wyoming and Illinois also boast the biggest millennial drinkers.