As every competent young professional knows, the location of your home can make or break your career. This is why so many young professionals decide to move to another city to further their career goals. Some of the most important statistics include employment rate, average salary, and available industries. Of course, the cost of living remains one of the most important factors, especially in the current work environment, where working from home is quite normal. In this article, Verified Movers will answer the question, “Where are young professionals moving to in 2023” and also explain why.
Where Are Young Professionals Moving To: Top 6 Places
While choosing the best place to live might be highly individual, the fact of the matter is that some places are simply statistically better than others. Whether they have better work conditions, higher average salaries, or notable industries, the best places always have something “extra.” Basically, when you ask the question, “Where are young professionals moving to?” these places are far more represented than others:
- Austin, Texas
- Denver, Colorado
- Seattle, Washington
- Raleigh, North Carolina
- Atlanta, Georgia
- Nashville, Tennessee
Austin, Texas
Austin, Texas, continues to be a magnet for young professionals due to its low unemployment rate and abundance of job openings. The city has consistently maintained a low unemployment rate, attracting talent from various fields. As of 2023, the unemployment rate in Austin remains below the national average, and it stands at 3.40 %, providing a favorable job market for young professionals.
Austin is particularly known for its thriving tech industry and growing startup scene. The city is home to numerous technology companies and serves as a hub for innovation and entrepreneurship. Tech job opportunities in Austin are abundant, attracting young professionals in search of career growth and advancement in the technology sector.
Average salaries and minimum wages
Austin offers competitive average salaries across various industries. The city’s vibrant job market, especially in the tech sector, often translates to higher earning potential for young professionals. The average salary in Austin is higher than the national average. Namely, the median household income of $86,530 provides attractive prospects for those seeking employment in the city.
Additionally, Austin has set a higher minimum wage compared to the federal minimum wage requirement, ensuring that even entry-level positions offer more favorable compensation. The higher minimum wage requirement in Austin contributes to the earning potential and financial stability of young professionals. However, as salaries constantly change, it might be best to conduct your research before you commit to any city thoroughly. You can get some general schedule salary information online, and you can always extend your research even further.
Industries, job sectors, and cost of living
Austin is known for its diverse and thriving industries. Beyond the technology sector, the city boasts a vibrant music and creative scene, attracting professionals in these fields. The music industry in Austin is renowned, with numerous music festivals and a rich cultural heritage. The creative industries, including film, design, and marketing, also flourish in the city.
In addition to technology and creative sectors, Austin experiences growth in other industries such as healthcare, education, and finance. The presence of major universities and government institutions further drives job growth and innovation in these sectors.
While Austin’s popularity continues to rise, the cost of living remains relatively affordable compared to other major cities in the United States, and it has an index of 129.4. This is precisely why so many young professionals search for top movers in Austin. While housing costs have increased, affordable housing options are still available, particularly in the outskirts and neighboring areas. Young professionals in Austin can find a balance between a reasonable cost of living and a vibrant city lifestyle.
Denver, Colorado
If you have been wondering where young professionals are moving to, Denver Colorado, boasts a favorable unemployment rate and a robust job market. As of the latest data, the unemployment rate in Denver remains low, 2.90 %, reflecting the city’s strong economy and ample employment opportunities. This makes it an appealing destination for young professionals and job seekers.
Denver offers a range of job opportunities across multiple sectors. The city is particularly known for its thriving technology industry, with a growing number of tech companies and startups. Additionally, the finance and healthcare sectors in Denver are strong, providing diverse employment options and career growth prospects for professionals in these fields.
Average salaries and minimum wages
Denver offers competitive average salaries across various industries. The city’s strong job market often translates to higher earning potential for professionals. The salary of $67,380 makes Denver an attractive destination for individuals seeking better income prospects. Moreover, Denver has also implemented a higher minimum wage requirement compared to the federal minimum wage.
Industries, job sectors, and cost of living
Denver is home to key industries that drive job growth and innovation. The technology sector in Denver is thriving, attracting professionals with its numerous tech companies and startup ecosystem. Additionally, the aerospace industry has a strong presence in Denver, with major companies and research institutions contributing to job opportunities in this field.
Denver’s cost of living has seen an increase in recent years, but it remains relatively affordable compared to some major cities in the United States. Factors such as housing costs, transportation expenses, the cost of Denver top movers, and daily living expenses contribute to the overall cost of living in Denver.
Seattle, Washington
Seattle, Washington, combines a low unemployment rate with a thriving tech sector. The city has consistently maintained a favorable unemployment rate (currently at 3.00%), reflecting its strong economy and job market. This makes Seattle an attractive destination for professionals and job seekers.
Seattle is widely recognized as a hub for technology and e-commerce companies. The city is home to tech giants like Amazon and Microsoft, offering a multitude of job opportunities in software development, cloud computing, artificial intelligence, and more. The presence of these industry leaders, along with a robust startup ecosystem, creates a fertile ground for career growth and advancement in the technology sector.
Average salaries and minimum wages
Seattle offers competitive average salaries across various industries. The city’s strong job market and high-demand tech sector often result in higher earning potential for professionals. The average salaries in Seattle, which are now $75,529, are generally higher than the national average, making it an attractive destination for individuals seeking better income prospects.
Industries, job sectors, and cost of living
In addition to the tech sector, Seattle is known for its thriving aerospace and healthcare industries. The city is home to major aerospace companies like Boeing, providing a range of job opportunities in manufacturing, engineering, and research. The healthcare sector in Seattle is also robust, with renowned medical institutions and a growing demand for healthcare professionals.
Furthermore, Seattle experiences job growth and innovation in sectors such as clean energy, biotechnology, and sustainable industries. For example, the top movers Seattle utilize these new technologies to great effect, and they are a great choice if you want to move there. The city’s commitment to sustainability and environmental stewardship fosters employment opportunities in these forward-looking fields.
Seattle’s cost of living is 31% higher than the state average and 50% higher than the national average, mainly due to housing costs. The city’s housing market has seen significant appreciation, leading to increased housing prices. Even though when you ask, “Where are young professionals moving to in 2023?” Seattle is always near the top of the list.
Raleigh, North Carolina
Similar to other cities on the list, Raleigh boasts a favorable unemployment rate, reflecting a strong job market, and is one of the best cities for job seekers in North Carolina. Raleigh is particularly known for its job opportunities in the technology, research, and healthcare sectors. The city has a thriving tech industry, with numerous technology companies and startups. Research institutions and universities in the area also contribute to job growth and opportunities in fields such as biotechnology and life sciences. Furthermore, Raleigh’s robust healthcare sector provides a range of employment options for healthcare professionals.
Average salaries and minimum wages
Raleigh offers competitive average salaries across various industries. The city’s strong job market often translates to higher earning potential for professionals. Average salaries in Raleigh are generally in line with or slightly above the national average, currently $161,000, making it an attractive destination for individuals seeking better income prospects. Regarding minimum wage requirements, North Carolina follows the federal minimum wage, which should be taken into consideration when evaluating earning potential.
Industries, job sectors, and cost of living
Raleigh is home to key industries that drive job growth and innovation. The city has a flourishing technology sector, with a focus on software development, cybersecurity, and information technology. Additionally, Raleigh’s Research Triangle Park, one of the largest research and development centers in the United States, contributes to job opportunities in biotechnology, pharmaceuticals, and life sciences.
The education sector is also significant in Raleigh, with renowned universities and colleges that drive employment in academia, research, and educational services. Other sectors, such as finance, manufacturing, and professional services also contribute to job growth and economic diversification.
Raleigh offers a relatively affordable cost of living compared to other major cities. The housing market in Raleigh is more affordable compared to some other metropolitan areas, although housing costs have seen some increase due to the city’s growth. Namely, the cost of living is 1% higher than the state average and 4% lower than the national average. Nonetheless, the top Raleigh movers still get thousands of relocation requests each day! This proves that Raleigh is still one of the best places to work in.
Atlanta, Georgia
Whenever there is a question of “Where are young professionals moving to these days?” Atlanta is always on the list. Atlanta Georgia, also has a current unemployment rate that reflects a favorable job market. The city’s unemployment rate remains competitive, making it an attractive destination for professionals and job seekers.
Atlanta offers diverse job opportunities across various industries. The city is particularly known for its thriving technology sector, with numerous technology companies and startups. Additionally, Atlanta has a significant presence in the film and entertainment industry, with major film studios and production companies. The city’s robust finance sector, including banking and financial services, also contributes to job opportunities.
Average salaries and minimum wages
Atlanta offers competitive average salaries across different industries. The city’s strong job market often translates to higher earning potential for professionals. Average salaries in Atlanta are generally in line with or slightly above the national average, making it an appealing destination for individuals seeking better income prospects. As of June 23, the average annual salary in Atlanta is $71,191. This is one of the reasons why this is one of the better places where young professionals are moving to. Similar to North Carolina, Georgia also follows the federal minimum wage.
Industries, job sectors, and cost of living
Atlanta has a thriving technology sector encompassing software development, cybersecurity, and information technology. The entertainment industry, including film, television, and music, is another prominent sector in Atlanta, with a vibrant arts and creative scene. Additionally, Atlanta’s strategic location and transportation infrastructure contribute to a robust logistics and supply chain industry.
Other sectors, such as healthcare, professional services, and manufacturing, also play a significant role in Atlanta’s job market, providing employment opportunities and contributing to economic growth.
Atlanta offers a relatively affordable cost of living. For example, hiring one of the top movers in Atlanta to relocate you is also quite cheaper than in most high-profile cities. This affordability allows individuals to enjoy a comfortable lifestyle and access the city’s amenities.
Nashville, Tennessee
Nashville is widely recognized as the Music City, offering unique job opportunities in the music industry. The city is a hub for musicians, songwriters, and music-related businesses, creating a vibrant and dynamic music scene. In addition to the music industry, Nashville has a robust healthcare sector, with renowned hospitals and healthcare institutions. The city also has a growing number of tech startups, providing opportunities in the technology sector.
Average salaries and minimum wages
Nashville’s strong job market often translates to higher earning potential for young professionals. The average salary in Nashville is $67,077.
Industries, job sectors, and cost of living
Nashville’s music industry is a significant sector, encompassing not only music production but also live performances, music publishing, and artist management. But it is not the only one. Nashville’s healthcare sector, with its world-class hospitals and research institutions, provides diverse job opportunities in medical services, research, and administration. In fact, the best moving companies in Nashville report a huge increase or relocation requests from young professionals working in the medical sector. Additionally, the hospitality industry is strong in Nashville, with a range of jobs in hotels, restaurants, and tourism.
Other sectors such as finance, education, and professional services also play a vital role in Nashville’s job market, contributing to economic growth and offering career prospects. As for the cost of living, Nashville offers a somewhat affordable cost of living when compared to many other major cities in the United States. Namely, it is 9% higher than the state average but 2% lower than the national average. For this reason, some of the top movers Nashville have their arms full when it comes to organizing relocations.
It Is a Great Time to Be a Young Professional!
There are many good reasons why the above cities always rank highly in “Where are young professionals moving to?” lists. These cities offer tremendous opportunities and potential for young professionals to thrive in their careers. From the booming tech sectors to the vibrant entertainment industries, there is a wealth of possibilities to explore. With competitive salaries, strong job markets, and a range of innovative industries, young professionals can find the right fit for their skills and aspirations in these cities.