Greater New Orleans #5 in USA for millennial in-migration

According to Time magazine, Greater New Orleans ranks #5 in the USA for in-migration of millennials.

From 2010-2015, the area saw an almost nine percent increase in its 25-34 year-old population.

Michael Hecht, President and CEO of GNO, Inc., says the study backs up, empirically, what they’ve been seeing and hearing on the streets.

“Which is that New Orleans, with its rich culture, dense urban grid and walkablity has many of the things that millennials are looking for today at a cost that’s significantly less than some more traditional cities like New York or SanFrancisco.”

In the article “The 25 Cities Where Millennials Are Moving,” Time quotes research from the Urban Land Institute showing that smaller cities are actually seeing the most relative growth in their population of 25-to-34-year-olds.

New York City had the greatest increase in the total number of millennials, but that only represented a 2.5 percent uptick, placing New York at the bottom of the list.

“This is based on population growth of individuals between 25 and 34 years old,” says Hecht. “And, we’ve had about nine percent growth in the five years from 2010 to 2015.”

“This is fantastic news for New Orleans because it means that the most important type of capital, human capital, is now choosing New Orleans again.”

And, Hecht says a diversifying economy is providing a variety of jobs from which to choose.

“We are the fastest growing technology sector in all of America. So, you have people coming here for traditional jobs in things like manufacturing and energy, but also new jobs in things like technology, biomedical and environmental management.”

The top 10 regions where millennials are moving are:

Virginia Beach-Norfolk-Newport News, VA-NC — 16.4%
Richmond, VA — 14.9%
Riverside-San Bernardino-Ontario, CA — 11.7%
Memphis, TN — 9.5%
New Orleans, LA — 8.5%
Austin, TX — 6.6%
Pittsburgh, PA — 6.6%
Baltimore, MD — 6.5%
Boston-Cambridge-Newton, MA-NH — 6.5%
Miami-Fort Lauderdale-West Palm Beach, FL — 6.4%

You can read the full article here.