REinventing MLS

Chicago among top 10 cities for millennial renters, study finds

Chicago is the United States’ tenth highest-ranking city for share of millennial renter applications during the past five years, according to RENTCafé. The study evaluated 13 million renter applications nationwide to identify the cities where millennials represent the largest share of apartment applications.

Chicago’s 41.2% share of millennial renter applicants was good enough to earn the Windy City a spot in the top 10, with Seattle’s 50.5% mark leading the way. Additionally, 3.6% of Seattle’s millennial rental applications came from Chicago, with only Bellevue, Washington contributing a larger percentage of applicants.

One thing is certain about Millennials: If they flock to a particular city, that area will explode both economically and culturally. This generation has different views than its predecessors, preferring flexible jobs and experience-driven lifestyles that they seek out and develop in the cities they choose. At the same time, most Millennials are renters and are shifting away from the two-kid, white-picket-fence American dream — making them less likely to get tied down to a specific city.

Read the full report

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Learn more about Rental Beast.

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