Los Angeles ranks sixth on a list of the top 10 U.S. cities where millennials want to live, according to data from Realtor.com.
That finding was based on an analysis of Realtor.com economic data on the 60 largest U.S. cities and the degree to which millennials were looking at real estate listings in those areas compared with the national average from August 2016 to February 2017, the site reported.
That may come as a surprise if you assume that millennials are avoiding big cities like LA because of the high rents and impossible housing costs. But LA clearly has other appeal, Realtor.com said:
“There are some very specific things you see millennials looking for in a community right now,” says Jason Dorsey, chief strategy officer for the Center for Generational Kinetics, a marketing firm in Austin, TX. On the list of must-haves: supershort commutes, and amenities like parks, cultural centers, and restaurants. And yeah, maybe even some really fun stuff to do on a Thursday night. That’s because many of these 25- to 34-year-olds are delaying marriage and even a serious career and want to enjoy the single life, he says.
There's the lure of a career in Hollywood, not to mention the attraction of tech employers such as Snapchat, Google, and Oculus, which all have a presence in LA's Silicon Beach, the site said.
And there are even housing alternatives in a region where the median home price is $672,000, including Northeast neighborhoods such as Highland Park and Atwater Village, not to mention South LA.
As for that commute? The site credits the Metro as a way to get around without a car, though that really depends on where you live and work.
Realtor.com’s list of other so-called “millennial magnet” cities includes Salt Lake City (No. 1); Miami (2); Orlando, Florida (3); Seattle (4); Houston (5); Buffalo, New York (7); Albany, New York (8); San Francisco (9); and San Jose, California (10).