Top 10 Cities for Millennials

Millennials are one of the country's largest and youngest adult generations yet.  They hold an immense collective purchasing power, the ability to move entire markets, and the potential to do so for decades to come.  But what is it that millennials really want?  Marketing execs have been trying to figure this out for years.

Well, here’s something we do know: In ever-increasing numbers, they’re home buyers. In fact, they’re the biggest group of ’em in the nation. Sure, they’re devotees of the borrowers’ economy—eagerly sharing bikes, music, rides, vacation places, you name it—but like most generations before them, they’re hungry for home ownership. Buyers under 36 now make up the biggest chunk of Americans signing on the line that is dotted: 34% of all home buyers, according to the National Association of Realtors®. And they make up 64% of first-time home buyers (even though they only account for 13% of the population).So if millennials are checking out your hometown, you’d best pay attention.“There are some very specific things you see millennials looking for in a community right now,” says Jason Dorsey, chief strategy officer for the Center for Generational Kinetics, a marketing firm in Austin, TX. On the list of must-haves: supershort commutes, and amenities like parks, cultural centers, and restaurants. And yeah, maybe even some really fun stuff to do on a Thursday night. That’s because many of these 25- to 34-year-olds are delaying marriage and even a serious career, and want to enjoy the single life, he says.As Dorsey points out, they also face an UberXL load of unique financial challenges: “College debt, thinner credit history, less savings—and all at a time when home prices have gone up. For many millennials, it’s much harder to buy houses.” On their path to ownership, they’re very much on the prowl for a bargain.

Click here to take a closer look at these top 10 cities for millennials.