Portland is still in the top 20 and two other Oregon towns in the top 50 on the list of the top 10 areas millennials relocated to most in 2022, according to a recent Smart Asset study. However, over half of the list is made up of cities in Texas and California.
To find out where millennials were migrating to most frequently, researchers at the financial technology business examined 268 locations that were included in the U.S. Census Bureau’s 1-Year American Community Survey for 2022. Adults between the ages of 25 and 44 are referred to in the study as millennials.
According to Census Bureau estimations, the number of people who relocated between states increased from 7.9 million in 2021 to around 8.2 million in 2022. A ten-year trend is maintained by the rise in movers and the rise in the proportion of state-to-state movers (18.8% in 2021 to 19.9% in 2022).
Here are the places the Millennial generation visited the most in 2022.
- Cambridge, MA
- Santa Clara, CA
- Seattle, WA
- Sunnyvale, CA
- Denver, CO
- Arlington, VA
- Bellevue, WA
- Killeen, TX
- Austin, TX
- Sandy Springs, GA
Jaclyn DeJohn, Managing Editor for Economic Analysis at Smart Asset, told Business Insider that these locations attracted millennials who were looking for a lot of opportunities.
Portland is still in the top 20, coming in at number 16, with millennials accounting for 9.52% of the immigrants that relocate to the Rose City.
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Nor was it the only Oregon city included in the list. Hillsboro landed at number 39 on the list with 8.13%, followed by Bend at number 42 with 8.04%, Eugene at number 107 with 6.31%, and Salem at number 130 with 5.97%.
According to DeJohn, some millennials may have moved to Santa Clara because of its close proximity to Silicon Valley in Northern California, while others may have chosen to migrate to Massachusetts in order to enroll in graduate programs at Harvard University or the Massachusetts Institute of Technology.
Additionally, cities with the lowest rates of millennial migration were identified by researchers. Santa Ana, Moreno Valley, Thousand Oaks, and Lancaster in California, Port St. Lucie, Florida, and Brockton, Massachusetts were a few of those locations. Overall, the survey discovered that in 2022, one in four millennials relocated to a new city.
Nonetheless, according to a recent Redfin survey, almost one in five (or 18%) millennials think they’ll never own a home, when it comes to purchasing a property in those new areas.
Among the 5,079 Americans who either moved within the last year, intend to move in 2023, or rent their current residence, affordability was the primary justification given.