Wednesday, July 6, 2016

Top 12 Cities Where Affluent Millennials Live

The Americans born after 1980 make up the largest generation in history, the Millennials. Let’s take a look     at where the affluent millennials call home.       

1.   Jersey City, N.J.

Jersey City is the second most populated city in the state of New Jersey after Newark. Millennials live here where rents and homes cost less, commuting by train into the city of New York is still close enough. 2.2 percent of Millennials who live in Jersey City have an annual income of more than $350,000.
Average home value: $345,800

Average rent: $2,180

2.   Oakland, California

Oakland is the third largest city in the San Francisco Bay Area, the eighth largest city in California, and the 45th-largest city in the U.S. 2.6 percent of Millennials made more than $350,000.
Average home value: $586,800

Average rent: $2,707

      3.   Washington, D.C.

Washington, D.C., the U.S. capital, has a population of 658,893. 2.8 percent of the millennials there are making more than $350,000 a year.
Average home value: $499,300

Average rent: $2,534


     4.    New York City

New York City has a population of 8.406 million, has five boroughs, and is home to the Empire State Building, Statue of Liberty and other iconic sites. 2.8 percent of Millennials living in New York City make more than $350,000 a year.
Average home value: $612,400

Average rent: $2,336
  

     5.    Cambridge, Mass.

Cambridge is in the Boston metropolitan area, with a population of 107,289. Mostly because of tech and bio jobs, 2.9 percent of Millennials are bringing home the big bucks. However, about 7.7 percent of those 55 and older are making more than $350,000.
Average home value: $644,400

Average rent: $2,604 

     6.    Denver, Colorado

Denver is the capital of Colorado with a population of 649,495 and hot housing market. Many young people have moved here after being offered high paying positions in the finance and tech fields. 3 percent of them made more than $350,000.
Average home value: $331,100

Average rent: $1,942 

     7.    Pasadena, California

Pasadena is the 183rd-largest city in the United States, having an estimated population of 139,731. 3.3 percent of Millennials living there made more than $350,000.
Average home value: $714,300

Average rent: $2,619 

     8.    Sunnyvale, California

Sunnyvale is located in Santa Clara County and is a Silicon Valley hot spot. As of 2010, the population was 140,095. Of its Millennials, 3.9 percent made more than $350,000.
Average home value: $1.14 million

Average rent: $3,877
  

     9.    Seattle, Washington

Seattle is home to the thriving tech industry, with Microsoft and Amazon.com headquartered in the metropolitan area. Population as of 2013 was 652,405. Of Millennials living in Seattle, 3.9 percent are making more than $350,000.
Average home value: $533,000

Average rent: $2,634

     10.  Huntington Beach, California

Huntington Beach is a beach town in Orange County, with a population as of 2013 of 197,575. This surf town has just over 5 percent of Millennials who live there that made over $350,000.
Average home value: $733,200

Average rent: $2,902

     11.  San Francisco, California

San Francisco is known for high-paying tech jobs and 7.8 of its Millennials make more than $350,000.
Average home value: $1.13 million

Average rent: $4,542

     12.  Arlington, Virginia

Arlington has a population of 224,906 as of 2013 and 8.7 percent of Millennials in this D.C. suburb made mor3 than $350,000. That’s more than the 55 and older age group brought home. 7.9 percent of those 55 and older made more than $350,000.
Average home value: $607,100

Average rent: $2,690