If Thanksgiving this year taught me one thing, it was that I need to get as far away from my hometown as possible. If you’re considering packing up and moving to a different state, you’re not alone. According to a new article published by the New York Times, college educated young adults (defined as those under 40) are twice as likely to move as those without a Bachelor’s degree. From an economic perspective, this makes sense – more specialized jobs requiring higher education are found more exclusively in major cities or regions associated with a particular sector, whereas jobs that don’t require a Bachelor’s degree or equivalent are fairly equally disbursed throughout the good old U S of A. Of course, people aren’t moving between cities at equal rates – some states are seeing huge booms of millennial movers, whereas others are getting hit with a mass exodus.
If you’ve been looking for jobs recently, it probably won’t surprise you that the highest positive rates of movement are toward both coasts and the Southeast, with everyone deciding to GTFO of the Rust Belt and the flyover states. Many of the coastal states and regions have more cities in a closer vicinity, leading to more job opportunities and economic growth. Additionally, many of these areas have a focus on booming sectors, such as real estate and technology, whereas many midwestern states are still struggling to recover from the loss of manufacturing jobs.
If our new President-elect’s promises hold true, Michigan and Detroit could see a rebound, but for now, they’re not really great opportunities for the rest of us. While we do tend to migrate to higher cost-of-living areas, they come with higher paying jobs and a plethora of amenities that interest us such as music festivals and trendy brunch locations, so paying a higher rent to be surrounded by anything other than fields of corn is totally worth it.
If you’re looking to cut your rent payment down by half, it may be worth it to give Cleveland-Akron a try, but for the rest of us, I think we’ll settle for loudly complaining about our high premiums in trendy neighborhoods while brunching on avocado toast and bottomless mimosas, because honestly, could you really imagine living out your twenties any other way? .
[via New York Times]
Map via New York Times