05 May Millennials Are on the Move
According to the 2017 Mayflower Mover Insights Study, millennials are being dubbed as “vacation movers”, due to the trend of relocating to new areas without intending to stay long term. Millennials are moving to advance their careers and find the fun, not to settle down into their dream home. At least, not yet.
For more than half of millennials, probability is high for a temporary move within the next five years and many relocate with a departure date already in mind. Following or searching for new career prospects and seeking new experiences are two of the top motivators of “vacation movers”. Joe Michael, a millennial who relocated to Chicago for a new job opportunity confirms this sentiment stating, “living in a big city opened up unique opportunities and experiences.”
Millennials who grew up in urban areas are also more likely to move around as opposed to their rural counterparts. These millennials are flocking to coastal hotspots and tech hubs like Los Angeles and Seattle and most live in or near the big cities of their temporary homes. These urban locales often have the career opportunities and exciting adventures millennials are looking for and as a result, cities continue to be a big draw for this generation.
Whether in search of fun or climbing up the corporate ladder, Millennials have shown that they’re willing to make a temporary move to explore new opportunities. However, despite the desire to city hop in their youth, most millennials intend on settling down one day, but only after finding their dream job, dream house, or dream spouse.