There are two things that most people, particularly young, post-graduates need – available jobs and affordable housing. Millennials in Pittsburgh have access to plenty of both.
Generation Y, or Millennials, are the largest generation currently in the United States, surpassing their parents, the Baby Boomers, in 2016. They dominate and shape our markets. In Pittsburgh in particular, there’s a significant number of college-aged people and young professionals, and the number continues to grow. According to US census data from between 2000 and 2014 in Pittsburgh, the number of young college graduates under the age of 35 increased by 53 percent, or almost 15,000.
The increasing population of millennials in the Greater Pittsburgh area looking for housing corresponds closely with the aging out of many property owners. The younger demographic’s demand for affordable living or working space is supplied to by the older generation’s unloading of property.
Millennials in Pittsburgh with Real Estate Opportunities
Also, the age of current homeowners is only rising, and the aging out of many property ownership and management, individuals contributes to a great number of opportunities in the real estate market. If you’re a young person looking to rent an apartment or buy your first house there are plenty of options. If you want to invest in real estate, Pittsburgh is the perfect place. If you’re just starting out on your own, whether in school or work, Pittsburgh provides a welcoming financial climate.
Pittsburgh was the silicon valley of its day when steel and coal fueled the industrial revolution and the overall advancement to what is now the modern age. The infrastructure in place is able to support a larger population than it currently does, so there is an influx in affordable space. This is also the reason for the recent growth in the fields of tech, medicine, and finance, and by extension, the increase in available jobs.
In the instance of tech giants like Google or Uber, they benefit from not needing to compete in ridiculous bid wars for potential employees. The livability of Pittsburgh allows for corporate employers and thousands of settled employees can invest in longer-term relationships without the cut-throat costs of some larger cities, particularly San Francisco or New York.
Where Affordability Meets Livability
Across the country, many young people are faced with the dilemma of wanting to access the amenities and employment opportunities of a larger city but are unable to afford it. In Pittsburgh, students and young professionals can enjoy the “largest small town.” The walkability and bikeability of the city, in particular, helps young people who would otherwise be commuting. The location is wonderful – especially for young people from the midwest or east coast. It’s within a day’s drive to a few major cities, like New York or Chicago, and you can make it to DC or Philly in half that time.
Many young people are asking themselves the question “Where can I live that is equal parts affordable and opportunity-rich?” Millennials in Pittsburgh know their city is the answer.