Despite the anxiety that may come along with frequent moves, Seattle millennials seem to be bearing the stress in search of greener pastures. Relocation and finding a new home are rated as the most stressful scenario anyone can go through, according to a recent poll of 2000 adults that found that two in three individuals rate the stress of having to move residences higher than the stress of a divorce, even over the stress of a new job!
The number one reason cited as the factor to move was a desire for a nicer living environment with more amenities. A good portion of the city’s millennial residents are included among the booming tech industries employed. The average age of 30 for most tech field workers comes with the added perk of annual salaries that can afford comfort. A majority of young Seattleites are well equipped financially to be more selective when it comes to getting the most return for their rent.
On the opposite spectrum, there are also several young people who move frequently to find affordable places to rent, chasing after the ever-decreasing number of affordable housing units that may be left in the city proper. Regardless of the hyper competitive rental market that is Seattle, the census survey shows most relocating millennials are choosing to stay in King County, indicating that 63 percent of the mobile millennials are moving, but staying local to the Greater Seattle area.
Seattle millennials are making moves for other reasons as well, including geographic proximity to their place of employment as a major deciding factor. The city hosts several major company campuses, including large firms like Expedia, who are currently developing a downtown area campus, and with Seattle’s commute time ranking as the 10th worst in the nation behind large metropolitan cities such as Los Angeles and New York, it’s no wonder that Seattle’s 25 to 34 year old demographic would be looking to live in closer proximity to their place of employment.
Even with the hardship and challenges that moving residences can bring on, with 51.9% of the city being rental units, this trend looks to continue into the foreseeable future, as the boom of new rental housing developments in Seattle gradually alters the landscape of the city.