Gen Z Needs to Realize Big Cities Aren’t Everything
Relocating to a more affordable area of the US, at least for a few years, would help young adults start out on a firmer financial footing.
Go west, my friend...or east, or south...
Photographer: Yellow Dog Productions/Digital Vision/Getty Images
The class of 2024, like generations before them, might believe it’s wise to venture to major cities after college. Cities, after all, are where wealth-generating industries thrive. But today, many major cities have become outrageously expensive, especially when it comes to housing. Rather than constantly struggling to make ends meet, many young Americans would be better off starting their careers, and establishing their financial lives, in lower cost-of-living areas.
Despite the potential financial advantages, Americans don’t move from state to state in high numbers. Approximately 8.2 million people relocated to a different state in 2022, which was a modest increase from 2021, according to Census Bureau data. That’s less than 2.5% of the total population.