Clarksville, TN – Of the top 10 cities the Millennial Generation is looking to for bigger paychecks, Middle Tennessee lands two – Clarksville at 6 and Nashville at 10.
“Our dedication to recruit higher paying jobs and to create a top-rated quality of life, both of which are attractive to a young, educated workforce, is a driving force behind us making this list,” said Cal Wray, Executive Director of the Clarksville-Montgomery County Economic Development Council.
In a report published by Money Magazine this week, Millennials, those born between 1980 and 2000, are “on the hunt for high-paying jobs, and they’re moving to some unexpected places to find them.”
The Census Bureau reported in 2012 that there were an estimated 80 million Millennials in the US alone. Millennials were the first generation to grow up with personal computers and in turn, tend to look for more technology based jobs. They are also willing to move to an area where the job market can serve them better even if it means the cost of living might be higher.
According to the research released by Money Magazine, Clarksville saw a nearly 50 percent increase in the number of Millennials that made up the population between 2007 and 2013. As of 2013, 31 percent of that population falls into the Millennial category.
“Millennials are attracted to markets with good job prospects and low unemployment, but that tend to have higher rental rates and high home-price appreciation,” says Daren Blomquist, vice president of RealtyTrac. “It’s a tradeoff.”
Clarksville, which is the fifth largest city in the state behind Nashville, Memphis, Knoxville, and Chattanooga, benefits from the growing industrial base, as well as nearby Fort Campbell and Austin Peay State University. While the notion is that there is some trade off for finding better paying jobs, Clarksville also has a highly competitive real estate market and a very affordable cost of living.
According to the Clarksville Association of Realtors, the average home price is $163,000 and rent runs around $660 for a two bedroom apartment. The Cost Of Living Index ranks Clarksville at an 88, which makes the community extremely affordable for those looking for good jobs coupled with reasonable living expenses.
In the 10 U.S. counties with the biggest increase in Millennials, the average unemployment rate is 5.2%. Clarksville comes in at 4.7%, well below the national average of 6.1%.
