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Huntsville cost of living and employment drive millennial population growth
Laura Boehringer

Huntsville cost of living and employment drive millennial population growth

July 16, 2024/in Community Development, Economy, Education, Employment, Engineering, Featured, Lead, News, Technology, Workforce Development/by Laura Boehringer

With Millennials making up 22 percent of the U.S. population, their day-to-day well being is a good sample of our health as a nation.

CommericalCafe’s study of top U.S. millennial metros show that Millennials continue to flock to Huntsville for its cost of living, employment opportunities

At a national level, Huntsville ranked 4th among the top 20 in terms of cost of living and third for lowest rate of unemployment, sitting at 2.6 percent. Huntsville also saw a 10 percent jump in its percent of Millennial residents between 2018 and 2022, placing it in third.

In the south, Huntsville ranked 2nd among the regional top 10 for its rise in residents from this age group among the metro’s overall population from 2018 through 2022. The metro came 2nd among the regional top 10 in terms of cost of living.

Huntsville placed 4th for its employer-based health insurance coverage of 68.9% among Northeast’s 10 best entries.

Another major reason has been a transformation of the local economy and the development of new jobs from growing industries.

The tech sector stands out as one of the fastest growing sectors of HSV’s diverse economy that helps to complement its established aerospace and defense industries. This evolution has positioned Huntsville as a regional hub for tech employment, earning it recognition as one of the fastest-growing metro areas for tech jobs.

The city’s diverse employment landscape makes it an attractive destination for Millennials, particularly those with qualifications suited to these burgeoning fields. Consequently, Huntsville’s current 41.2% share of Millennials holding bachelor’s degrees are strategically well-placed for future opportunities in this market.

In the South, Huntsville was outranked only by Austin, TX and Raleigh, NC.

Nationally, Austin, TX; San Jose, CA; Raleigh, NC; and Harrisburg, PA take the lead, respectively.

Interestingly, the South held seven of the top twenty metros, showing a a good balance between income and cost of living in the region as a whole. 

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Tags: City of Huntsville, CommercialCafe, Cummings Research Park, Downtown Huntsville, Millennials, Redstone Arsenal
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https://huntsvillebusinessjournal.com/wp-content/uploads/2024/07/Huntsville-cost-of-living-and-employment-drive-millennial-population-growth.jpg 316 833 Laura Boehringer https://huntsvillebusinessjournal.com/wp-content/uploads/2019/02/HBJ-Logo.png Laura Boehringer2024-07-16 06:15:062024-07-15 12:14:44Huntsville cost of living and employment drive millennial population growth
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Huntsville Business Journal
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