The Millennial generation now makes up the largest demographic of home buyers, but which cities are the best for Millennials to call home? Money management website Growella recently took a well-researched shot at identifying the best cities for Millennials based on objective factors like job availability, commute, and cost of living. Our corner of North Carolina fared very well on the list with Durham ranked as the number one city in the country. Our real estate agents are here to make sense of the rankings and take a closer look at why Durham is so appealing for Millennials.
Before Growella could rank the best cities for Millennials, they had to put together an algorithm based on what a Millennial audience wants from a city. The most important factors they arrived at include minimal commute time/an easy commute, widespread availability of good jobs, a cost of living that allows for an enjoyable lifestyle without compromising savings, and the opportunity to enjoy social activities. Durham ranked very well in each category in order to earn such a high place on the list.
Why Durham Is Ideal for Millennial Homeowners
So, why should Millennials be interested in Durham homes for sale? According to Forbes, Durham offers three times the job opportunities of the average city, along with a cost of living that's six percent below the national average. Mix in a ton of cultural attractions, a dynamic, walkable city, and an exciting downtown, and you can start to see the big attraction of Durham.
- Many Millennials are entering the housing market for the first time, and Durham offers affordable home prices compared to many other major cities. Most technology centers have a high cost of living, but Durham is an exception.
- Durham is a diverse city with a young vibe and a welcoming place for residents of all ages. The presence of Duke University has a big influence on local culture and helps make the city an inviting place for young residents.
- How have we gotten this far without mentioning the food? Ranked by Southern Living as the "South's Tastiest Town," Durham is a city where fabulous flavors wait around every corner. The city is characterized by its artisanal chefs, who bring both local dishes and flavors from around the world to the dinner table each night.
- Durham values small businesses and local artisans. You'll find so many unique places to shop, dine, and be entertained throughout Durham, thanks to the hard work of so many city residents.
- One of the great things about living in Durham is that you don't necessarily have to hop in your car to reach your destination. The city's public transportation system is strong and Durham has also earned a high walkability score of 87, so getting around the city is a breeze.
While Durham ranks as a great city for Millennials, it's important to remember that the same qualities that make the city rank so highly among that demographic also apply to anyone who lives here. Residents of all ages love Durham for many reasons, and each resident finds their own reasons to love living in the city. The future is bright in Durham as well, which is a big reason why we expect the city to remain a popular place to settle down for Millennials – and everyone else – for many years to come.
Durham has something to offer for homeowners of every generation. Contact Coldwell Banker Howard Perry and Walston to buy and sell homes throughout the Durham, NC area.