Where Do All The Young Rich Millennials Live?

We all know this generation of millennials faces its own challenges like graduating from college with a ton of student debt, and unaffordable rent prices, but not all of them are going hungry. The segment of kids ageing from 22-34 in the tech industry are doing quite well actually; some are actually quite rich riding the wave of the tech boom.

Here are the cities where you might find a great deal of millennials who make $350,000+ a year.

Arlington, VA – almost 9 percent of millennials living in this suburb are making more than $350,000, which people 55 and older didn’t make that much. Only 7.9 percent of people 55 and older made that kind of money.

San Francisco, CA – San Francisco is one of the biggest tech capitals in the country, with a very limited housing supply. 7.8 percent of the cities millennials make more than $350,000. On the other hand, their median rent is $4,500.

Huntington Beach, CA – This little city is right next door to the famous Newport Beach, and only 5 percent of millennials make more than $350,000. It’s a nice place with almost impeccable weather, but it can be quite costly.

Sunnyvale, CA – one of the hotspots in Silicon Valley with a median home value of 1.3 million. 3.9 percent of millennials make $350,000.

Seattle, WA – Seattle is dealing with its own tech boom, and rents and home values are rising rapidly. Tied with Sunnyvale, Seattle has 3.9 percent of millennials making $350,000.

Pasadena, CA – This city has mostly rich baby boomers sitting right outside of L.A., but the millennials there making $350,000 comprise of 3.3 percent.

Denver, CO – Denver’s housing market are as hot as they come due to increased energy, finance, and tech jobs bringing millennials to the area. Denver’s rich millennials see only 3 percent making $350,000.

Cambridge, MA – Cambridge sees 2.9 percent of millennials making $350,000. Tech and biotech jobs are quite popular here. For those 55 and older, only 7 percent of them make more than $350,000.

Washington, D.C. – All the power living in the nation’s capital brings much of the wealth.  A whopping 2.8 percent bring home $350,000, and that is only half of the percentage of people 55 and older who bring home that kind of money.

New York City – Tied with D.C., 2.8 percent of New Yorker millennials bring home $350,000. This is due to NYC holding the country’s largest finance industry, which is the biggest job market. There’s also a ton of wealth and old money too. Chances are if you make that kind of money you will also be living inside NYC and not commuting.

Oakland, CA – Right across the bay from San Francisco, Oakland squeezed in the top 10. It’s no doubt that San Francisco’s money spread to Oakland, because 2.6 percent of millennials bring home $350,000.

Jersey City, NJ – Jersey City is close enough to NYC that most people working in NYC commute. 2.2 percent of millennials bring home $350,000. 

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