California is one of the biggest U.S. states and has become highly popular amongst millennials for a permanent stay. It has become a home to over 10 million millennials, making up 13% of the U.S. population. The state offers a diverse and laid-back culture with a varying environment of beaches, mountains, and desert, which makes it a suitable living destination for almost everyone.
Millennials currently make up 40% of the U.S. working-age population. California is also home to core work industries, such as healthcare, aerospace, and tech, which attracts a high millennial population towards it. With opportunities in such demanding industries, California is becoming a hub for millennials.
How has California Homeownership Changed for Millennials Compared to Earlier Generations?
Homeownership has significantly lagged compared to generations like boomers of the same age. The economic changes, lifestyle costs, inflation, job markets, etc., have all played a part in the staggering difference in how millennials buy or rent homes.
However, momentum has been seen since the fourth quarter of 2017, and the U.S. Census Bureau Housing Vacancies and Homeownership survey shows that there has been a 36% growth in homeownership, the largest increase in any age group.
It is because millennials are choosing to invest in small, starter homes that are no bigger than their capacity. Going for affordable and more practical options has recently led to an increase in millennial homeownership.
Since California is a big state, there are numerous cities for people to move into. However, some of these cities stand out more than the rest and are more suitable for those looking for a new home. If you’re looking for the best cities in California for a homestay, then here’s a look at the ones you should consider.
7 Best Cities in California for Millennials
1. Sacramento – It is a family-friendly city with one of the lowest employment rates, with 3.5%, as its core industries include government, healthcare, and technology. The place is perfect for those seeking a comfortable stay with numerous leisure activities available in nearby neighborhoods.
2. San Diego – This city is perfect for young adults who live busy lives and need places for an active social life. It is home to the U.S. Navy’s Pacific Fleet, which serves as a crucial employer for San Diego’s population. The city also has a milder summer than Los Angeles, and its sunny weather makes it a suitable area for solar power.
3. San Francisco – This city is known as California’s economic hub. It is home to numerous startups in the tech industry and offers a stable source of employment to the state’s population. It is, however, an expensive city for a long-term stay, which is why young workers must hire a property management company San Francisco to save time and effort for new homeowners. So millennials looking to make a move there will need to have a consistent income to live there.
4. Los Angeles – While most people see this city as a home to Disneyland and Hollywood, the city of angels has much more to offer. It offers numerous leisure activities, making it a perfect place to unwind. However, finding a suitable inland suburb is challenging, thus first-timers must consult a trusted Los Angeles property management company about the state laws and HOA regulations. The city is also known to have a high crime rate, with over 28,000 reports in 2020.
5. San Jose – This city is the capital of Silicon Valley, home to numerous tech companies offering lucrative opportunities to the city’s population. The city has one of the lowest unemployment rates, standing at 2.4%. While it does have a high cost of living, San Jose is home to diverse cultures, low crime rates, and ample activities for a bustling social life.
6. Vallejo – This city is home to driving employment sectors, such as aerospace, healthcare, and manufacturing. It lies on the outskirts of the San Francisco Bay area, allowing one to easily visit the Napa wine places. It is also one of the leading homes for up-and-coming art studios, giving diverse opportunities for people to showcase their work and talent.
7. Oxnard – This city offers a relaxed atmosphere for a comfortable stay and a community wellness score of 69/100, with easy access to the beach, restaurants, and other social activities. It is also the home of the famous California Strawberry Festival, which people can visit yearly.
California is a state that offers a bit of everything for those looking to make a move there. The state has everything from beaches to employment and high-end restaurants, which is why it is as popular as a home. For millennials looking to move there, there are several cities to consider for your stay.
Before you choose to move to California, check out these cities, as each of these places has the potential to be your new home. All you have to do is know your requirements and what will make your stay comfortable. Once you have that, you are guaranteed to find one of these cities as the perfect place for your new home.