Twin Cities Among Top 10 Cities For Millennials
Forbes reported Monday that the Twin Cities was one of the top ten cities for millennials—people aged 25 to 34—according to a study by Niche.com.
The Twin Cities came in 9th, home to a low median rent of $864 per month and a median income of $33,511. According to the study, 14 percent of Twin Cities residents fall within the age brackets of a “millennial.”
The study also looked at specific neighborhoods within each city. The North Loop stood out as the top neighborhood in the Twin Cities for millennials.
According to the North Loop Association, 25 to 34 year olds make up 37 percent of the neighborhood’s 4,300 residents (as of the 2010 census). Also, the North Loop includes Target Field and the Minneapolis Farmer’s Market, as well as an ever-growing number of restaurants and new offices.
“It’s a neighborhood that recognizes the value of density,” Ward 3 City Councilman Jacob Frey told Twin Cities Business. “It’s a neighborhood that recognizes the value of living amongst people that don’t look exactly like yourself. It’s thriving because it’s growing organically. These young people are chomping at the bit to get involved in their community.”
New York City topped the list, followed respectively by Austin, Texas; Washington D.C.; Chicago; and San Francisco rounding out the top five.
Niche.com—a company focused on research, reviews, and insights on locales, schools, and colleges—analyzed data from the U.S. Census Bureau, the FBI, and surveys of nearly half a million college students and graduates over the past four years to compile the list. Only cities with 1 million residents or more were included in the research.
Other factors that determined the rankings included education levels, racial diversity, and low unemployment and crime rates. User-generated data included factors such as nightlife, cultural attractions, shopping, and professional sports.
This latest list comes a few months after Estately Blog named Minneapolis the number 1 city for “Broke Millennials.”
Additionally, in March, Minnesota Compass—a social indicators project—reported that Millennials now outnumber Baby Boomers in Minnesota.