LANHAM, Md. — Census data shows that troves of millennials are coming to the DC area to find jobs, despite the high cost of living.
RealtyTrac reports that the top two counties in the United States for percentage increase in millenials from 2007 to 2013 were in the DC metro area.
Arlington County saw an 82 percent increase in millennials during that time period and Alexandria City saw an 81 percent increase.
“The millennial generation is generally moving from lower-priced to higher-priced markets for both buying and renting, with the tradeoff being more jobs (lower unemployment) and higher median incomes in the markets they are moving to,” states the report.
RealtyTrac analyzed Census population data in more than 1,800 counties nationwide to discover which markets are seeing the biggest shifts.
Median prices, price appreciation and rental rates were also taken into consideration to create a heat map of their migration patterns.
Other metro areas with the highest increase in millennials include New Orleans; San Francisco; Denver and Aurora, Colorado and Clarksville, Tennessee.
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