Millenials are moving to New Orleans
NEW ORLEANS, LA (WVUE) - New Orleans is one of the top cities where millennial are moving in, according to Realtor.com. They ranked New Orleans 7th as a top place to move to for those 25 to 34.
"It's amazing just what's happened in the last five years with the millennial. Half my clients, right now, probably are that, you know, 24, 34 years old," said New Orleans real estate broker John Schaff.
Schaff said those clients are looking to buy houses or condos. And they want to be in places like the Warehouse District, the Bywater or along Magazine Street. He said their price range is $300,000 to $600,000 - and those are first-time home buyers.
"It's all these young, hip, you know, kids that are coming to the city, and they've got disposable income for whatever reason, you know, they're young lawyers, young doctors, parents are giving them down payments for homes," Schaff said.
Michael Hecht with Greater New Orleans Inc. said the news confirms what they've been seeing for years now.
"Some of the most talented young people around the country and around the world are choosing to move to the New Orleans region," he said.
Big draws to the city? You get more for your money, and you can't beat the culture.
"I think its very simple here in New Orleans. You can make a living and you can also make a life. Our cost of living is as much as half of what it is in places like New York and San Francisco, so you can come to New Orleans in an environment that's low cost, high culture and where there's a strong connection to the people and the place, and I think that's unbeatable anywhere in America right now," Hecht said.
According to Realtor.com, the top place for millennials to move to is San Antonio, followed by Miami coming in at number four on that list. Austin and Raleigh are number nine and 10.
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