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Millennials in Des Moines - 9/16/15

When one considers Des Moines, Iowa, one might not envision a hotbed of young, upwardly mobile professionals.  But Des Moines is experiencing a surge in its millennial population.  That population has come to dominate housing market dynamics in Iowa’s largest city.  According to data supplied by Realtor.com, roughly sixty percent of borrowers who used a mortgage to purchase a home in Iowa’s capital city during the first half of twenty fifteen were aged twenty five to thirty four. 

As reported by Bloomberg, that compares with a national average of thirty seven percent.  This renders Des Moines the most millennial friendly city in the U.S.  The next six on the list others are Provo, Utah; Baton Rouge, Louisiana; Pittsburgh, Pennsylvania; Lafayette, Louisiana; Grand Rapids, Michigan and Madison, Wisconsin.  Many of these cities do not have reputations for being particularly trend, but what they are is affordable. 

It should be noted that not every good job is in places like San Francisco or Boston.  About half of the jobs in science, technology, engineering and math are located in the twenty largest U.S. metropolitan areas.  That leaves the other half for smaller markets, most of which are associated with much lower costs of living.

Anirban Basu, Chariman Chief Executive Officer of Sage Policy Group (SPG), is one of the Mid-Atlantic region's leading economic consultants. Prior to founding SPG he was Chairman and CEO of Optimal Solutions Group, a company he co-founded and which continues to operate. Anirban has also served as Director of Applied Economics and Senior Economist for RESI, where he used his extensive knowledge of the Mid-Atlantic region to support numerous clients in their strategic decision-making processes. Clients have included the Maryland Department of Transportation, St. Paul Companies, Baltimore Symphony Orchestra Players Committee and the Martin O'Malley mayoral campaign.