AUSTIN (KXAN) — A report that ranked 73 U.S. metros found that Austin was No. 1 for affluent millennials.
Trust & Will, an estate planning service, said its study tracked jobs, income, assets and housing to show the markets where millennials were building wealth.
“With an estimated $124T wealth transfer underway, Austin is best positioned for millennials to save, invest, and purchase homes in the years ahead,” the report said.
Austin–Round Rock–San Marcos, TX
Millennial Population Density: 25.84%
- Economic Indicators Rank: 5
- 5-yr GDP Growth: 63.50% (#1)Employment Change: 19.38% (#2)Median HH Income Change: 23.45% (#33)
- Startup Density: 16,876 (#21)
- Wealth Concentration Rank: 8
- High-Income Tax Filers: 9.39% (#7)
- High-Value Asset Indicator: 12.80% (#15)
- Housing & Real Estate Rank: 10
- Zillow Home Value Index: $451,858 (#25)
- Real Estate Permits Change: (5-yr change): 22.54% (#17)
“Net‑net, Austin combines fast output, opportunity for prime‑age talent and strong wealth signals, with a construction pipeline that helps absorption,” the report said…