American men and women born between 1980 and 1999 — the millennials — are attracting attention on many fronts today.
For financial advisors, courting millennial investors is a key challenge, so it's helpful to know where to find them: not just where the largest millennial populations live, but where to find high concentrations of future investors and clients.
Niche, a site for comparing places, K-12 schools and colleges, on Monday announced the 25 best U.S. cities, and neighborhoods within those cities, for young people to live.
"Niche has a longstanding relationship with millennials," Luke Skurman, the firm's founder and chief executive, said in a statement. "Since 2002, we've helped millions of young people choose their college."
Now, Skurman said, it is helping them find a place to live with Niche Local, its new guide to cities, towns and neighborhoods.
Niche ranked the top metro areas in the U.S. using various factors, including data from the U.S. Census, FBI crime rates and data from Niche's proprietary college rankings, including stats on cultural attractions and nightlife. A city was also ranked higher if a larger percentage of the population had a bachelor's degree or higher, the median income was higher and the unemployment rate was lower — all factors pointing to a more financially successful population.
Following are Niche's top 25 cities and their most desirable neighborhoods for millennials. All statistics listed are related to the metro areas.
25. Atlanta
Best Neighborhood: Ardmore
Percentage Age 25–34: 14%
Median Rent: $937
Median Income: $29,863
Crime Score: High
Representative College: Georgia Tech
24. Orlando
Best Neighborhood: Lake Eola Heights
Percentage Age 25–34: 14%
Median Rent: $1,018
Median Income: $25,330
Crime Score: Above Average
Representative College: University of Central Florida
23. Richmond
Best Neighborhood: Shockoe Bottom
Percentage Age 25–34: 13%
Median Rent: $921
Median Income: $30,324
Crime Score: Below Average
Representative College: Virginia Commonwealth University
22. Indianapolis
Best Neighborhood: Fishers (Town)
Percentage Age 25–34: 14%
Median Rent: $763
Median Income: $28,664
Crime Score: Average
Representative College: IUPUI
21. Houston
Best Neighborhood: Midtown
Percentage Age 25–34: 15%
Median Rent: $860
Median Income: $28,306
Crime Score: Average
Representative College: University of Houston
20. Salt Lake City
Best Neighborhood: East Central
Percentage Age 25–34: 17%
Median Rent: $852
Median Income: $27,561
Crime Score: Above Average
Representative College: University of Utah
19. New Orleans
Best Neighborhood: Lower Garden District
Percentage Age 25–34: 13%
Median Rent: $913
Median Income: $25,297
Crime Score: Below Average
Representative College: Tulane University y
18. Charlotte
Best Neighborhood: Third Ward
Percentage Age 25–34: 14%
Median Rent: $818
Median Income: $28,494
Crime Score: Below Average
Representative College: University of North Carolina at Charlotte
17. Los Angeles
Best Neighborhood: Palms
Percentage Age 25–34: 14%
Median Rent: $1,218
Median Income: $26,482
Crime Score: Low
Representative College: University of Southern California
16. Phoenix
Best Neighborhood: Tempe (City)
Percentage Age 25–34: 14%
Median Rent: $934
Median Income: $29,139
Crime Score: Below Average
Representative College: Arizona State University
15. Pittsburgh
Best Neighborhood: Shadyside
Percentage Age 25–34: 11%
Median Rent: $672
Median Income: $25,520
Crime Score: Below Average
Representative College: University of Pittsburgh
14. Columbus
Best Neighborhood: Victorian Village
Percentage Age 25–34: 14%
Median Rent: $777
Median Income: $28,977
Crime Score: Average
Representative College: Ohio State University
13. Seattle
Best Neighborhood: Eastlake
Percentage Age 25–34: 15%
Median Rent: $1,033
Median Income: $34,199
Crime Score: Average
Representative College: University of Washington
12. Raleigh
Best Neighborhood: Morrisville (Town)
Percentage Age 25–34: 14%
Median Rent: $855
Median Income: $31,899
Crime Score: Low
Representative College: North Carolina State University
11. San Jose
Best Neighborhood: Old Mountain View
Percentage Age 25–34: 15%
Median Rent: $1,454
Median Income: $37,484
Crime Score: Low
Representative College: San Jose State University
10. San Diego
Best Neighborhood: Little Italy
Percentage Age 25–34: 15%
Median Rent: $1,261
Median Income: $30,196
Crime Score: Low
Representative College: University of San Diego
Best Neighborhood: North Loop
Percentage Age 25–34: 14%
Median Rent: $864
Median Income: $33,511
Crime Score: Average
Representative College: University of Minnesota
Best Neighborhood: Oak Lawn
Percentage Age 25–34: 15%
Median Rent: $874
Median Income: $29,830
Crime Score: Below Average
Representative College: Southern Methodist University
7. Denver
Best Neighborhood: Speer
Percentage Age 25–34: 15%
Median Rent: $902
Median Income: $32,422
Crime Score: Below Average
Representative College: University of Denver
6. Boston
Best Neighborhood: Spring Hill (Somerville)
Percentage Age 25–34: 13%
Median Rent: $1,163
Median Income: $33,659
Crime Score: Below Average
Representative College: Boston University
Best Neighborhood: Cow Hollow
Percentage Age 25–34: 15%
Median Rent: $1,344
Median Income: $36,119
Crime Score: Average
Representative College: University of San Francisco
4. Chicago
Best Neighborhood: Wicker Park
Percentage Age 25–34: 14%
Median Rent: $931
Median Income: $30,061
Crime Score: Average
Representative College: DePaul University
3. Washington
Best Neighborhood: Clarendon (Arlington, Va., pictured above)
Percentage Age 25–34: 15%
Median Rent: $1,353
Median Income: $42,226
Crime Score: Average
Representative College: Georgetown University
2. Austin
Best Neighborhood: South River City
Percentage Age 25–34: 17%
Median Rent: $936
Median Income: $30,816
Crime Score: Below Average
Representative College: University of Texas – Austin
Best Neighborhood: Greenpoint (Brooklyn)
Percentage Age 25–34: 14%
Median Rent: $1,157
Median Income: $31,703
Crime Score: Low
Representative College: New York University
—
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.