Anecdotal evidence suggests that Millennial homebuyers are returning to the smaller, more affordable, family-oriented hometowns they left for college and career paths in larger cities.
In what some term a reinvention of American life, the decade of investment by smaller cities in green space, downtown redevelopment, and grassroots tech hubs is infusing these communities with a new sense of dynamism, Curbed reports. A recent Brookings Institution analysis of Census data show that small and mid-size metros are seeing increased migration while "superstar" cities are seeing more out-migration. Patrick Sisson writes that many Millennials, "see the move back as not a trade-off, but a trade-up. Compared to a decade ago, many say smaller cities now offer more viable career and entrepreneurial opportunities that may be increasingly difficult to realize in larger, more expensive metros.
If, 10 years ago, you had asked 28-year-old Sarah Luckett Bhatia if she’d return to her hometown of Louisville, Ky., she “would have laughed in your face.” Bhatia moved to Chicago for school ... and immediately got a job in corporate planning and strategy. Like many 20-somethings, she steered her life toward big cities and the opportunities they promised. After years, she was getting tired of the urban grind and began prioritizing a home and a connection to family. At the same time, it struck Bhatia that “Louisville got cool.” The city’s restaurant and bar scene has blossomed—“I think it’s on par with Chicago, which I realize is a controversial thing to say,” Bhatia says.
