A new study released Monday by Portfolio.com has found that young adults looking to avoid the eventual need to consolidate debt may want to move to the Southwest region where the job conditions are the best in the country.
According to the study, the latest in the website’s ‘U.S. Uncovered’ lifestyle trend reports, Austin, Texas was found to be the best metro area in the country for young adults to reside.
The reasoning for the city’s appeal, said demographer G. Scott Thomas, was because of its 2.8 percent employment growth rate – the fastest growing rate in the country – along with the 99,200 jobs it has added in the last five years.
"Entrepreneurs looking to jump-start their business and marketers looking for the disposable income of this crucial demographic now know where to focus," said J. Jennings Moss, editor of Portfolio.com. "The Southwest is making headway in attracting younger crowds and re-establishing itself as a destination for those in their 20s and 30s looking for opportunities during the recession."
Following Austin was Washington D.C., Raleigh, North Carolina, Boston, Massachusetts, and Houston Texas.
Conversely, Detroit, Cleveland, and Dayton, Ohio were found to have the worst economic climate for young adults. Detroit alone has shed 343,700 in the last five years.