Report: Bay Area Millennials Eyeing Sacramento As Future Home
By Kelly Ryan
SACRAMENTO (CBS13) — A new report shows Millennials from the Bay Area will continue to move to the Sacramento area over the next five years looking for a better quality of life, and a respite from rising housing costs.
San Francisco is a very expensive place to live. Derek Redford works for L street lofts in Midtown Sacramento and often hears the same thing from Bay Area residents.
"Let's move to Sacramento it's a lot more affordable in this location is great restaurants everywhere," he said.
A new report from the Urban Land Institute says 74 percent of Millennials—those born after 1980—will likely be leaving the Bay Area in the next 5 years due to rising housing costs and high quality of life expectations.
Justine Castle moved to Sacramento from out of state a few months ago and understands why Millennials like herself are saying goodbye to the Bay Area.
"It's also easy to get around town and get to your job a lot of people ride bikes or take the trams," she said.
That Sacramento quality of life combined with an increase in local hot spots has millennials excited. In a 2015 Redfin report, the top destination for Millennial's leaving the Bay Area was Seattle, while Sacramento was No. 2.
"We're going to have the Sac Republic, the new Kings arena state-of-the-art it's a phenomenal downtown area," said John Krueger with the Greater Sacramento Area Economic Council. "Companies that understand what the millennial workforce means to them right now are listening to what Sacramento has to offer."