June 18, 2015

Houston’s a Millennial Magnet

Houston is becoming the next biggest destination for millennials and recent college graduates. No wonder - the costs of living here are enviably low when compared to other metropolitan cities. Another big draw is the job opportunities. Employment in Houston hasn’t been as negatively affected by the drop in oil prices as many have feared. In fact, businesses report adding more jobs for the third quarter.

Traditionally, cities like New York and San Francisco used to assume the mantle for attracting young adults and professionals, but low employment prospects have curbed people’s enthusiasm for places that demand skyrocketing-high costs of living. According to a new Bloomberg LP report, millennials have decided to skip major destination cities for their starting their lives and careers. Being a college graduate with a great deal of student debt, while facing a weak job market during the Great Recession, has seriously prompted many to move to places like the Bayou City for better opportunities.

In a study by Manpower Group, Houston’s employment outlook for the third quarter is 22%, beating major cities like New York (17%), Chicago (15%), San Francisco (21%), and Boston (17%). Houston attracts a great deal of talent into its rather lucrative careers in healthcare and energy sector. It is now one of the top 10 cities in the US for having the fastest-growing Millennial populations. Currently, about 24% of Houston’s total population are young adults between 18 to 34. From its roots as a sleepy, Good ol’ boy hub for energy and real estate, Houston is primed for an abundance of youthful energy that’ll drive the city’s future