EL SEGUNDO, Calif. — A new survey by GOBankingRates has ranked Lexington no. 15 in the 30 Best Cities for Young Professionals.
Millennials and Generation Z members currently make up more than one-third of the workplace with the number set to increase to 58% in the next decade. These young professionals are flocking to cities where jobs are in abundance and wages are high.
A detailed breakdown of Lexington’s metrics – which includes one of the lowest annual median rents of the top cities included in the study – can be viewed below.
- Median annual rent for a one-bedroom apartment: $9,669.75
- Percentage of population ages 20-34: 26.35%
- Unemployment rate
- Ages 20-24: 7.5%
- Ages 25-29: 7.1%
- Ages 30-34: 6%
- Labor force participation rate
- Ages 20-24: 75.7%
- Ages 25-29: 84.7%
- Ages 30-34: 87.7%
- Median income
- Ages 25 and under: $13,756.63
- Ages 25-34: $31,582.95
- Annual cost of living (excluding housing)
- Ages 25 and under: $7,991.68
- Ages 25-34: $14,095.35
To find the 30 best cities for young professionals, GOBankingRates looked at 100 of the most populous cities in the United States and analyzed each city based on the median annual rent for a one-bedroom apartment and the percentage of the population ages 20 to 34. This age group then was evaluated based on the unemployment rate, labor force participation, median income and the annual cost of living.