Three Dallas suburbs are hotspots for millennials on the move, according to a new analysis of U.S. Census data.
Using the most recent data from 2018, personal finance company SmartAsset studied net migration rates to determine where young Americans are moving—and where they’re fleeing.
McKinney came in at No. 13 and Irving took No. 18, followed by Frisco at No. 20. Among states, Texas boasted the highest net migration rate, a measure of how many people moved in vs. how many moved out. Other Texas cities in the Top 25 included Austin at No. 3, Houston at No. 6 and Fort Worth at No. 11.
The report is a snapshot of net migration that took place between 2017 and 2018, which could explain some of the more dramatic changes from last year’s list, when SmartAsset named Dallas the No. 1 destination for millennials who moved between 2016 and 2017. Dallas was not on this year’s list.
SmartAsset has also tweaked its approach to the data, shifting the age range for its definition of millennials to cover people between the ages of 25 and 39. The report previously looked at people aged 20 to 34.
While North Texas suburbs saw big gains, places like New York City, Chicago, St. Louis, Mo., and San Diego, Calif. all suffered net migration losses, according to SmartAsset.
Millennials are the largest generation in the country’s workforce, accounting for more than one in three workers, and their preferences influence where companies locate and how workspaces are designed.
Although it remains to be fully understood how the coronavirus pandemic will affect migration trends in the U.S., millennials have also been more likely to move more frequently than previous generations, research shows. As a younger workforce moves to Dallas-Fort Worth, the region’s technology sector has grown.
With nearly 170,000 tech workers, North Texas now boasts the 5th largest labor pool for tech talent in North America, according to a report last year by commercial real estate firm CBRE.
The Dallas-Fort Worth region gained 1.2 million residents between 2010 and 2019, according to Census data. Its population now numbers more than 7.5 million people, making it the fourth-largest metro area in the U.S., behind New York City, Los Angeles and Chicago.
Net migration rates