Atlanta ranks among top cities to move to for Generation Y members
According to a recent report released by Payscale, Atlanta ranks as the 17th most popular city to move to and live in among members of Generation Y. Young professionals and burgeoning families should consider this when looking at houses for sale in Atlanta.
The report examined a variety of different factors, including wage change over time, median pay, percentage of Generation Y employees and commute times before coming up with a Generation Y city score. The survey respondents comprised 500,000 workers between the ages of 19 and 29. Seattle led the way, with Houston and Minneapolis following close behind.
Based on the data from the survey, Atlanta's 20 percent of Generation Y workers demonstrated a 1.4 percent change in wages over time, on a median annual salary of $40,700. Additionally, the average daily commute time for these workers is a relatively paltry 25.1 minutes. This all added up to a Generation Y city score of 0.42, placing Atlanta 17th among cities in the country.
The results from this survey were in line with those from another recent survey from a global real estate franchisor, which suggested that Generation Y homebuying was primarily motivated by quality of life factors. Chief among these were a desire to live close to work (with 83 percent of this survey's respondents citing proximity to the office as being very or somewhat important ), family (65 percent of respondents) and friends (67 percent).
"It is important to understand what motivates Millennial home purchasing and what really matters to this group of consumers," said Charlie Young, the president of the real estate franchise group. "Millennials view a home as a cornerstone in building a family and spending time with friends, not just a place to eat and sleep. For Gen Y, owning a home is the foundation for one's life."
The latter survey also revealed that homebuying is indeed a priority for this generation, a sign of cautious optimism for the rebounding housing market. Among the Generation Y respondents, 64 percent viewed home ownership as a desirable future goal while 53 percent believed that it was a solid investment to make.