North Dakota ranks No 1 among all states in the best states for young adults, according to a recent study by MoneyRates.com. The study focuses on where 20- to 24-year-olds have the best shot at thriving in today's economy.
“We are excited about this ranking that acknowledges the many opportunities for young adults in our diverse business community,” Commerce Commissioner Michelle Kommer said.
North Dakota was found to be the top state to live as a young adult or millennial, followed closely by two other nearby Midwestern states, Iowa and Nebraska. North Dakota has become something of a magnet for young adults, as it has the highest proportion in the 20 to 24 age group of any state.
In compiling the study, MoneyRates.com examined eight different data sets to measure the best places to live for young adults. The rankings were based on the following factors related to millennial life:
• Career opportunities — young adult employment statistics
• Youth population — percentage of the population aged 20 to 24
• Education affordability — four-year public college education cost for in-state students
• Housing abundance — the availability of rental units
• Cost of rent — the average cost of rental units
• Access to Internet — percentage of households with broadband
• The fit factor — number of fitness facilities relative to the young adult population
• The fun factor — the number of bars and nightspots relative to the young adult population
The study states “North Dakota’s rise as a great state for millennials is due to a mix of business and pleasure. North Dakota has the third highest rate of young adult employment and also ranks well for the availability of rental property and affordable rents, something of great concern for a generation that is delaying buying a home.”
The full report from MoneyRates.com is available at: https://www.money-rates.com/research-center/best-places-to-live/
The North Dakota Department of Commerce works to improve the quality of life for North Dakota citizens by leading efforts to attract, retain and expand wealth. Commerce serves businesses and communities statewide through committed people and partners who offer valuable programs and dynamic services.