Millennials in Grand Rapids Are ‘Winning at Adulting’
Say what you want about the millennials but they stay winning! Especially the ones in Grand Rapids.
The Grand Rapids Business Journal reports on a new study that placed Grand Rapids as the #2 best city in the country for millennials. The study was done by real estate website, Trulia, and compared people between the ages of 28 and 32 to those 33-55 over the last 55 years. They looked at things like employment, home ownership and income.
Researchers broke down where millennials were "killing it" [over their older counterparts] in the 100 biggest metro areas in the U.S. which resulted in Grand Rapids placing second. Philly took the top spot. According to the findings, in 2015 millennials in Philadelphia were more likely to have a college degree and also made more money than those 33-55 years old. Unfortunately we don't have the specifics for G.R. but hey we're still WINNING! :D
As a whole for millennials compared with their peers the study found the following:
Only 39% Millennials own a home while 63% of their peers owned homes. Trulia says
This is the lowest rate of homeownership since 1975."
This is most likely due to the fact that young people are putting off marriage and kids.
Living at Home (with parents)
Millennials are just as likely to live with their parents as Gen Xers did. Young people in the baby boomer generation were more likely to live with their parents, than any other generation.
Not much difference was found between the two groups
Today’s young adults are no worse-off compared with their older counterparts now than they have been for the past 50 years."
Overall, recession hits young adults the worst, no matter from what era.
As of 2016, millennials, on average, are making 78¢ for every dollar earned by someone 33 to 55 years old. The highest this number has been was 92¢ in 1963.
So what's the takeaway from all of these numbers and stats? Trulia says that when it came to reaching success, the gap was the same for both age groups.
When members of any generation become young adults, they struggle in the same way young adults struggle today.