Best cities for millennials in Florida
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In the near future, millennials are expected to become the most influential generation in America, as this group begins to influence politics, culture, and the economy. But first, they will have to choose where they want to live. Florida attracts people of all ages who want to hire movers Clearwater FL and move to the Sunshine State. Therefore, we have compiled a list of the best cities for millennials in Florida.
Let’s look at the factors that we used in our analysis
- Are there jobs in the area? We analyzed unemployment and average wages using the latest data from the US Census Bureau. We determined the average salary on the Census Bureau by ZIP code. Reducing unemployment and rising wages had a positive effect.
- Can you afford to rent close to work? Using census data, we measured the average city rent, including utilities, to determine if there are reasonable rental costs in the area. Lower costs led to a positive result for the city.
- Do other millennials in Florida live there? We determined that millennials are working people aged 18–33. From here we found the percentage of millennial inhabitants in cities and the growth of millennial inhabitants. High percentages received positive ratings.
Our analysis revealed some trends
Big cities occupy a high position. The average salary has led to such large cities as Miami and Orlando be on our list. Perhaps it is no coincidence that millennial people are hiring long distance movers Florida and flocking to urban areas. Seven of the top 10 cities have a population of over 100,000. Along with established commercial centers in these cities and surrounding metro areas, there are several Fortune 500 companies.
Affordable rental price. Although rents are only 20% of the amount, the first seven cities have average rents equal to or less than the state average of $736 per month. Finding places to rent, not buying, also matches the behavior of millennials. But, there has been a trend of rising the rate of home-ownership for young Americans, and it reached over 50%. Therefore, we also included average real estate prices.
Here is the list of the best cities for millennials in Florida
1. St. Petersburg
This city on the outskirts of Tampa Bay is home to a thriving economy with an average income of $28,670, which is above the national average. Raymond James Financial and EverBank are headquartered here with Jabil Circuit, a Fortune 500 company. The average rent is $1,376 per month in a city with many restaurants and entertainment along the Grand Central District. Not surprisingly, many millennials in Florida are thinking of moving to St. Petersburg.
2. Palm Bay
With the second-largest average salary in our top ten, Palm Bay is at the center of the expansion of the Emerald City. This is a $101.8 million project that will create a city center on Interstate 95. There are also several large enterprises in the city, including Harris Corp., an international information technology company.
Thanks in part to the University of Florida, Tampa has a strong millennial presence that has grown by 7% from 2010 to 2013, and currently makes up 24% of the population. That explains the reason why the city has the largest millennial population of the cities analyzed. The average salary here is $64,000 a year, which is 28% higher than the average for the cities we analyzed. Companies such as KForce and World Fuel Services, a Fortune 500 company, are located in Tampa. Therefore, moving to Tampa as a young professional could be one of the best decisions in your life.
As one of the largest cities in Florida, Orlando has more than 190,000 millennials. A high average salary may be associated with the ability to work in corporate banks, healthcare companies, and Fortune 500 companies. The average rent is available at a price of $1,426, which is the second largest on our list and lower than the average of $1,790 in Florida. No wonder it made our list of the best cities for millennials in Florida.
With a relatively high average salary of $62,000 and an average rent of $1,702, Miami combines affordable housing with a strong local economy. It has the headquarters of World Fuel Services, Ryder System Inc., and many other companies in a growing urban environment. With all its advantages, Miami is one of the best places to live in Florida.
With an 11.1% increase in the millennial population, Sarasota takes a slightly lower place on our list. But it is still the perfect city for them. There are many interesting places where they can go. As well as many events and popular festivals. Young workers who live here will also find lower monthly rents of $1,453 and an unemployment rate of 5.41%.
7. Winter park
Despite the fact that a little less than 31,000 people live in the city, the Winter Park compensates for its size with an average salary of $53,000 and the highest millennials growth in our top 10. Park Avenue serves as the center of the cosmopolitan city center, with upscale restaurants with beautiful parks and Rollins College, Florida’s oldest recognized college.
8. Boca Raton
Boca Raton has the highest average salary on our list – 64,000 dollars. Although rents here are usually higher, with an average of $2,080, this coastal city offers a thriving business environment with over 150 companies and cultural events in the city center.
9. Fort Lauderdale
This city north of Miami extends from tourism and currently has a strong business center. Although the rental price is higher than the average for the cities analyzed, the Fort Lauderdale cultural pulse is noticeable, especially along the picturesque Riverwalk, the location of the Broward Performing Arts Center, various museums, and restaurants.
10. Palm Beach Gardens
With an unemployment rate of 2.9%, the lowest of our top 10 cities, Palm Beach Gardens – on the east coast of the state – maintains to have a relatively high average salary of $65,000. The business environment of the city includes trading, commercial, and other enterprises, including the PGA national headquarters. The average rent here is high. But a low unemployment rate, as well as a growing local economy make Palm Beach Gardens one of the best cities for millennials in Florida.