TOLEDO, Ohio —
Toledo is among the most affordable places for millennials, according to a new report that analyzed employment, population trends, housing conditions and income levels in the 100 largest metropolitan areas.
The analysis showed that 69 percent of all recent movers to Toledo were millennials.
The two factors that most affect millennials' decisions to move to a new place, according to the National Association of Realtors, is affordability and the job market in their city of choice. In Toledo, youngsters are able buy 48 percent of the houses for sale while their median income is $38,000 a year.
Millennials tend to live in cities where employment is strong and in most of the top 10 metro areas, the unemployment rate was lower than the national level in February 2019, the analysis showed. On average, the unemployment rate was 3.6 percent in these areas.
Despite Toledo reporting an unemployment rate of 4.6 percent for the same period, employment grew one percent in the last year.
Although recent research from the U.S. Census Bureau showed that Americans are moving at historically low rates, millennials are the most likely group to move to a new location than any other. The National Association of Realtors found that one of two people that moved to a large metro area recently was a millennial.
The study showed that Madison, Wisconsin is the top millennial destination and 75 percent of its recent movers were between 18 and 34 years old. Other cities millennials decided to move to recently were Seattle; Omaha; Grand Rapids, Michigan and Durham, North Carolina.