Florida stood out in the ranking of the biggest boomtowns in the country for millennials, with four cities on the list – Orlando being one of them. The study, done by MagnifyMoney, a financial product comparison site, was the subject of an article on the Orlando Business Journal.
Industry growth, population and housing changes, and workforce opportunities are some of the criteria analyzed by the study, carried out during 2011 and 2016.
Orlando’s unemployment rate among millennials declined by 30.2%, falling to 8.2%. The city’s median wages increased by 16.9% during the time to an annual salary of $24,988. And the city’s population increased by 9.1%, with its millennial labor force growing to 287,480 workers, a 9.9% increase over five years.
In addition to Orlando, Miami, Jacksonville and Tampa were also the other cities in Florida mentioned in the study. Even with its housing struggles, San Francisco was found to be the No. 1 millennial boomtown in the country.