We tend to think of New York as a hub for millennials living paycheck to paycheck, hindered by a higher-than-average cost of living coupled with their average yearly salary of $64,000. But young professionals are struggling throughout the nation. A new report detailed in the Washington Post looked at 25 major cities across the U.S. and found that in nearly half of these locales, “a millennial living alone in a one-bedroom apartment would need to spend more than 30 percent of his or her income on rent — surpassing the threshold for what financial experts say is affordable.” The solution, though, could be to get a roommate. Take New York, where millennials spend about 34 percent of their income on rent. By shacking up with a buddy, they can save $728 a month, or 14 percent of their income.
Roommate app Roomi recently compiled data based on the 20 to 36-year-olds searching for someone with whom to split the rent, and the top neighborhood for this trend is Astoria. DNAinfo shared the analysis, which found that nearly 38 percent of Roomi’s users looked for housing in the up-and-coming Queens ‘hood, and each applicant in this area gets about 20 applicants, almost double all other neighborhoods.
Click here to view the full-size map.
It’s no one’s dream to live in their parents’ basement, but since the recession this has been a growing norm for young adults across the country. As Digg points out, a recent study from the Pew Research Center reports that in 2014, for the first time in 130 years, adults ages 18 to 34 were more likely to live with their parents than with a spouse or partner. They attribute it mainly to the postponement of marriage, fueled by social shifts as well as career and salary concerns. But this trend is not blanketed evenly across the country, and a new map from Metric Maps breaks down the trend by both state and county, which shows us that the Tri-State region has more millennials living at home than anywhere in the U.S.
Yet another survey on the fascinating habits of millennials comes to us via Gothamist, this time taking a closer look at where that generation’s critical masses are migrating en masse, and why. The Youthful Cities Global Millenial Survey by the data jocks at Decode interviewed 15,000 millennials in 34 cities throughout the world, then divided the results by continent.
The study focused on the idea that millennials were more likely to be satisfied enough to remain in their current city if it’s perceived as a “youthful city.” Some criteria for this magical metric include a government that listens to the concerns of young people, access to fulfilling jobs, safety, healthy residents and access to health services, good post-secondary education programs and clean green space. North American respondents saw affordability as the top concern, followed by employment, safety, and decent public transportation.
The survey shows that millennials see “a direct link between having a youthful city–a dynamic, curious, open, inventive, connected and playful city–and economic and financial benefits, including higher employment rates, more jobs, a stronger economy and a thriving environment for small business and entrepreneurship.”
This year, snake people became the largest share of the U.S.’s voting-age population, surpassing 76.4 million baby boomers for the title. But while this younger generation (generally defined as those born between 1981 and 1997) may be dominating in numbers, they’re trailing when it comes to their median annual salaries.
This map created by Business Insider using data from the from the Minnesota Population Center’s 2014 “American Community Survey” in the Integrated Public Use Microdata Series reveals just what working snake people are earning annually—and the results are somewhat depressing. While Midwest states showing medians in the low 20s aren’t all that shocking given a lower cost of living, it is surprising to see that economic power players like California and New York ring in at just $21,900 and $25,000, respectively.