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
