Young Professionals Can’t Afford NYC But Still Want To Live There

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Young Professionals All Want To Live In NYC

Ask any group of Millennials where they wish they were living, and chances are, a significant percentage of them would say New York City. There’s just something about the land of opportunity and endless places to get dessert that makes Millennials dreamy-eyed and imagine that they really can do anything there. The knowledge that rent is five times their income and they would almost certainly live on a friend’s couch in a shoebox apartment is merely something that would have to be dealt with later. It’s part of the rite of passage necessary to living in the greatest city in the world. It’s all worth it for the sake of pursuing our dreams – or so we thought.

In a survey by Abodo, an apartment search site, Millennial employees set out to find where other Millennials were most likely to rent space. Unsurprisingly, 20% of Millennial respondents reported that they wanted to live in NYC; however, when quizzed about their values, NYC didn’t even come close to first place. What did? Philadelphia.

When looking for somewhere to live, Abodo found that Millennials most value a good job market and affordable rent and home prices. They also unsurprisingly had preferences regarding quality of life offerings, such as outdoor activities, local restaurants, and music events. Abodo ranked and scored these values on a national scale, and out of every major U.S. city, Philadelphia topped the charts with with an unemployment rate well below the national average and home purchase prices at 70% of the national average.

What wasn’t factored in, however, was how much Millennials actually wanted to live in Philadelphia, which surely would have brought the city down a few notches. In a preliminary survey, Abodo asked Millennials about their city preferences, and Philly pulled in less than 1% of the vote, making it an underdog for the best city to live in. However, if you can get past your bias, it may be worth making the leap because with steady employment rates and homes listed at a steal, you may actually find yourself enjoying it there.

[via Forbes]

The Recruitment Chair is a mid-level employee with a low-level salary and six-figure taste. She realizes her expectations far exceed reality, so she spends her days pinning away Loubs she pretends are in her physical closet instead of her virtual one. Her hobbies include lounging around in leggings and an oversized sweatshirt with a bottle of $14 wine while binge-watching episodes of Game of Thrones and Mad Men, as well as....well, that's really it.

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