When it comes to Atlanta as a draw for millennials, there may be a lot more talk than millennials.
At least, according to a report out today.
The growth of this age group is considered key to the future, since millennials are now the largest portion of the work force as well as leaders in many of the newer, critical tech-centered skills. Moreover, a strong expansion is dependent on a healthy supply of these folks.
Only whoa – Atlanta was a big loser on this one.
The metro region came in 47th – that would be FORTY SEVENTH – in the increase of millennials after 2005, according to an analysis of Census Bureau data by San Francisco-based Apartment List.
Millennials have been defined in a variety of ways. One commonly used definition has them as being born between 1982 and 2004, a cohort that is 75 million strong (although others say a millennial is someone born between 1977 and 1995. Or 1994.)
In any event, we didn't do so well, Apartment List says.
Yes, 47th. The metro Atlanta population of millennials dropped 6.3 percent between 2005 and 2015, the most recent data available, said Andrew Woo, a data scientist at Apartment List, a clearinghouse for apartment information and rentals
The top five were Charlotte, Houston, Austin, Seattle, and Omaha. Atlanta comes in just behind Phoenix and ahead of Los Angeles, Riverside, Cal., and Detroit.
Perhaps not surprisingly, the migration of millennials has something to with their ability to buy or rent a place to live – and that’s a matter of both how much you make and how much you pay, said Woo.
“Homeownership appeared to be driven by both affordability and wage growth,” he said. “Millennial population growth is correlated with median income. In Atlanta specifically, median income decreased by 8.2 percent.”
Homeownership rates fell in most cities, but Atlanta’s fell 14.1 percent – nearly twice the national average, he said.
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Millennial growth, 2005-2015
Top 10 metros, percent change
1 Charlotte, up 30.7
2 Houston, up 17.4
3 Austin, up 16.4
4 Seattle, up 15.3
5 Omaha, up 14.3
6 Nashville, up 13.8
7 Indianapolis, up 12.5
8 Tulsa, up 11.0
9 Orlando, up 10.5
10 Columbus, Ohio, up 9.7
… … … … .
47. Atlanta, down 6.3
Source: Apartment List
