A recent report from the website GOBankingRates put Las Vegas in the 50 most affordable cities in the US for millennials.
The largest generation in US history, the millennials are changing how everything is done from energy and recycling to business and shopping. One important change for millennials is that they are very price conscious. This is likely due to large quantities of student loan debt, having watched the collapse of the economy in 2008, and seeing their parents struggle with economic ups and downs for decades.
GOBankingRates looked at:
- Cities with a population of 50,000 or more with a millennial population of 21.6% or higher
- Three-year change in each cities millennial population
- Overall cost of living
- Median monthly rent
- Median home list price
#50 is Bryan, Texas. #1 is Sanford, Florida.
A triumph for Las Vegas is that Southern Las Vegas, specifically the Enterprise area, came in as the number 3 most affordable city for millennials.
- 28.6% of the population of the city are millennials
- The 3-year millennial population dropped by .01%
- The median monthly rent is $1,468
- The median list price was $335,0000
The cost of living in the area is 26.2% higher than the national average, but the population of Enterprise is the fifth highest percentage at 28.6%. Also, though the raw numbers show a decline in the millennial population, this is caused by massive influx of all generations. The actual millennial population of the area grew by 8,718.
While other cities are less expensive to live in, millennials are doing very well and increasing number of them are arriving the Enterprise-area every year.