Topline
San Antonio was the top destination for Gen Z movers in 2024, gaining a net 10,678 young residents while New York lost 29,554, suggesting young Americans are increasingly prioritizing affordability and lower housing costs over traditional big-city hubs.
SAN ANTONIO, TEXAS – DECEMBER 11, 2018: A skyline view in downtown San Antonio, Texas. (Photo by Robert Alexander/Getty Images)
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Key Facts
San Antonio gained a net 10,678 Gen Z movers, followed by Washington, D.C. with 8,631, Austin with 8,590, Nashville with 8,093 and Dallas with 6,944, according to data published by Redfin on Tuesday.
New York saw the biggest Gen Z exodus, with a net 29,554 moving out, followed by Minneapolis with -17,815, Los Angeles with -16,465, Denver with -13,882 and Detroit with -11,696.
Texas claimed three of Gen Z’s top five destinations, with San Antonio, Austin and Dallas combining for a net 26,212 of the generation’s movers in 2024.
Millennials favored Houston, which gained a net 16,365, followed by Dallas with 13,072, Baltimore with 11,724, Las Vegas with 8,860 and Atlanta with 8,753.
New York also led millennial outflows, losing a net -42,698, followed by Los Angeles with -31,107, Miami with -21,373, Washington, D.C. with -12,364 and San Francisco with -11,819.
All five of millennials’ top destinations had median home-sale prices below $450,000, while the typical New York home sold for $832,000.
KEY BACKGROUND
Young Americans aren’t necessarily giving up on big cities, but rather becoming less likely to make long-distance moves, with about 14% of 19-24-year-olds moving outside their metro area in 2024, down from 15% in 2014. Places like San Antonio, Austin and Dallas can offer access to large-city jobs and amenities at a lower housing cost than places like New York, with San Antonio’s median home-sale price at $264,825, compared to New York’s 832,000. While Gen Z is gravitating more towards cities like Austin, Washington D.C. and Nashville, millennials are favoring places like Houston, Dallas and Baltimore, suggesting that while affordability matters to both groups, their housing, work and lifestyle needs diverge.
CRUCIAL QUOTE
“Gen Zers are chasing opportunity, while millennials are chasing space,” said Sheharyar Bokhari, a principal economist at Redfin.
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