Houston Ranks No.2 in Best Cities for Millenials|Houston, TX|Marilyn Wier 713-542-8451

Houston Ranks No. 2 in Best Cities
for Millenials

I ran across this article on HAR Connect and thought I'd like to share! It's always wonderful to read great things about your city! I tell you if I didn't live here I would be running here the first chance I got! Take a look at how Houston has ranked Number 2 in best cities for Millenials.

A new study by PayScale finds that Houston is one of the best cities in the U.S. for Generation Y (individuals between the ages of 19 and 30, also known as Millenials) workers.

Ranked behind only Seattle, Houston employees earned 4.3 percent more in 2012 than they did in 2009, well above the average U.S. wage change over that time period, at 2.5 percent.

Houston Gen Yers also have a median pay of $44,000, tied for the highest in the country (due largely to oil industry jobs), a commute that's only slightly higher than average at 24.8 minutes and plenty of other Millennials to play with, with the age group making up 22 percent of the workforce.

Payscale also found that while 63 percent of Millennial workers have at least a bachelor's degree, the most commonly reported jobs for them are positions that don't require any higher education.

Where residential real estate statistics are concerned, observers should be watching for overarching, macro-level trends rather than any one volatile, outlying week or month's worth of data. Thinking in a big-picture manner is beneficial in numerous ways. Consider this: Despite media coverage of dreaded shadow foreclosure inventory or a new rush to rent by former owners, our nation's homeownership rate has fallen no more than 3.0 percent from its peak in 2004. The figure crested around 69.0 percent and now lies just above 66.0 percent. Here are some local numbers to learn and share.

•          In the Houston region, for the week ending August 19:

•           • New Listings decreased 11.5% to 1,832

•          • Pending Sales increased 32.7% to 1,653

•          • Closed Sales increased 8.1% to 1,415

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