Where Millennials Are Moving in 2024: Top U.S. States Gaining and Losing Young Adults
Millennials (born 1981-1996) are reshaping America’s demographic map, chasing affordability, opportunity, and lifestyle. A 2024 SmartAsset study, based on U.S. Census Bureau migration data, reveals the states millennials are flocking to and fleeing. Here’s the breakdown.
Top States Millennials Are Moving To
- Texas (+25,317 net millennial migrants)
- Why? Low taxes, booming tech and energy sectors, and affordable housing draw millennials. Austin’s median home price ($540,000) is half San Francisco’s. Dallas and Houston offer vibrant urban scenes.
- Who’s Moving? Tech workers, entrepreneurs, and young families are seeking space.
- Florida (+18,492)
- Why? No state income tax, warm weather, and job growth in finance and healthcare. Miami’s startup scene and Orlando’s tourism boom appeal. Median rent ($1,800) beats coastal rivals.
- Who’s Moving? Creative professionals and remote workers.
- North Carolina (+12,614)
- Why? Research Triangle’s tech hub, affordable suburbs (Raleigh median home: $420,000), and outdoor lifestyle. Charlotte’s banking sector adds jobs.
- Who’s Moving? Engineers and academics.
- Georgia (+10,875)
- Why? Atlanta’s film industry, corporate HQs (Coca-Cola, Delta), and lower costs (median home: $350,000). Diverse communities attract millennials of color.
- Who’s Moving? Media professionals and young couples.
- Tennessee (+9,320)
- Why? No income tax, Nashville’s music and healthcare industries, and cheap living (median rent: $1,400). Chattanooga’s gigabit internet lures remote workers.
- Who’s Moving? Musicians and tech freelancers.
Top States Millennials Are Leaving
- California (-36,821 net millennial migrants)
- Why? Sky-high costs (San Francisco median home: $1.2 million, rent: $3,300) and tech layoffs push millennials out. Remote work enables moves to cheaper states.
- Who’s Leaving? Tech workers and creatives seeking affordability.
- New York (-28,409)
- Why? High taxes and Manhattan’s $2,700 median rent strain budgets. Upstate’s job scarcity doesn’t help. Many move to nearby New Jersey or Connecticut.
- Who’s Leaving? Finance and media professionals.
- Illinois (-15,672)
- Why? Chicago’s high crime perception, cold winters, and state budget woes (3.5% income tax) deter millennials. Median home ($280,000) is affordable but jobs lag.
- Who’s Leaving? Young families and service workers.
- Massachusetts (-10,419)
- Why? Boston’s $3,000 median rent and competitive job market frustrate millennials. High taxes (5%) and student debt burden push relocations.
- Who’s Leaving? Biotech and academic workers.
- New Jersey (-8,765)
- Why? Highest property taxes (2.5% effective rate) and $2,200 median rent outweigh proximity to NYC. Many move to Pennsylvania or Delaware.
- Who’s Leaving? Commuters and young professionals.
Why It Matters
Millennials, 72 million strong, drive economic trends as homebuyers, workers, and voters. Their migration fuels growth in Sun Belt states while challenging high-cost coastal hubs to adapt. Texas and Florida’s gains signal a preference for affordability and opportunity, but losing states risk talent drain. California’s tech ecosystem still draws venture capital ($75 billion in 2024, per PitchBook), but housing crises could erode its edge.
Millennials, 72 million strong, drive economic trends as homebuyers, workers, and voters. Their migration fuels growth in Sun Belt states while challenging high-cost coastal hubs to adapt. Texas and Florida’s gains signal a preference for affordability and opportunity, but losing states risk talent drain. California’s tech ecosystem still draws venture capital ($75 billion in 2024, per PitchBook), but housing crises could erode its edge.
What’s Driving the Moves?
- Cost: Median home prices in gaining states average $400,000, vs. $800,000 in losing states.
- Jobs: Tech, healthcare, and creative sectors pull millennials to growth hubs.
- Lifestyle: Warm weather, urban vibrancy, and outdoor access matter.
- Remote Work: 30% of millennials work remotely, per Pew Research, enabling moves to cheaper areas.
Looking Ahead
Gaining states must manage growth to avoid California’s pitfalls—sprawl, traffic, and rising costs. Losing states need bold housing and tax reforms to retain talent. “Millennials are voting with their feet,” says economist Lisa Tran. “Affordability wins.” As migration reshapes the U.S., the competition for young talent is fiercer than ever.
Gaining states must manage growth to avoid California’s pitfalls—sprawl, traffic, and rising costs. Losing states need bold housing and tax reforms to retain talent. “Millennials are voting with their feet,” says economist Lisa Tran. “Affordability wins.” As migration reshapes the U.S., the competition for young talent is fiercer than ever.