Southern cities may be the best place for young professionals to launch careers

STRACHAN REPORT SUGGESTS THAT YOUNG AMERICANS WHO ARE JUST STARTING THEIR CAREERS SHOULD CONSIDER HEADING SOUTH. IT'S LIKE ACCORDING TO NEW DATA FROM BANK RATE GROWING NUMBER OF SOUTHERN CITIES OFFER THE BEST OVERALL EXPERIENCE, INCLUDING AFFORDABILITY, EMPLOYMENT OPPORTUNITIES AND POLITY OF LIFE. AT THE NUMBER ONE SPOT, AUSTIN, TEXAS. THAT WAS RANKED THE MOST DESIRABLE DESTINATION FOR YOUNG PROFESSIONALS OUT OF THE NATION'S TOP 50 METROPOLITAN AREAS AND

TOTAL SIX OF THE TOP 10 BEST PLACES TO START A CAREER LOCATED IN THE SOUTH. >> ALEX GALLI IS AN ANALYST AT BANK RATE. SHE JOINS US NOW. I AM PARTIAL TO AUSTIN. THAT IS WHERE I MET MY HUSBAND. BUT IS NOT JUST BOSTON. IT IS ALL OVER THE CELL. WHY IS IT BECOMING AN APPEALING PLACE FOR YOUNG PROFESSIONALS TO START THEIR CAREER? >> THANK YOU

FOR HAVING ME. CITIES THAT HAVE TRADITIONALLY BEEN POPULAR POSTGRADUATE DESTINATION SUCH AS NEW YORK, LA, OR D.C., ARE NOT THE MOST MARKET FRIENDLY OR LIVABLE OPTIONS BECAUSE THE COST OF LIVING IN THOSE CITIES HAS BECOME SO HIGH. AND ON TOP OF THAT, WE HAVE BEEN BATTLING WITH RECORD INFLATION OVER THE LAST TWO YEARS. INSTEAD, CITIES IN THE SOUTH HAVE BECOME MUCH MORE COST EFFECTIVE ALTERNATIVES THAT

STILL OFFER PLENTY OF JOB OPPORTUNITIES FOR YOUNG PROFESSIONALS AND AT ADDITIONALLY, THEY HAVE VERY VIBRANT CULTURES, AND THEY HAVE A LIFESTYLE THAT APPEALS TO YOUNG PROFESSIONALS IN THE POST- PANDEMIC ERA. >> TELL US WHAT THIS MEANS FOR OLDER PEOPLE IN THE AREA. HOW IS THE INFLUX OF YOUNG PROFESSIONALS IMPACTING THEIR LIVES? >> IT REALLY VARIES FROM CITY TO CITY. WE KNOW, FOR EXAMPLE, THAT AUSTIN IS

ONE OF THE YOUNGEST CITIES IN THE U.S. THE MEDIAN AGE IS 34 YEARS OLD AND THAT IS IN PART BECAUSE OF THE UNIVERSITIES IN THE AREA AND THE GROWTH AND TECH HISTORY. IN TERMS OF HOW THIS IS AFFECTING OLDER ADULTS, IT IS HARD TO SAY BUT WE KNOW THAT OLDER ADULTS ARE INCREASINGLY LOCATED IN SUBURBS AND NONMETRO AREAS. THAT IS TYPICALLY TIED TO HOMEOWNERSHIP. THE OLDER

YOU ARE, THE MORE LIKELY YOU ARE TO OWN A HOME IN. HOMEOWNERS AND TEND TO LIVE IN MORE SPRAWLING COMMUNITIES COMPARED TO RENTERS. YOU CAN EXPECT MORE OLDER PEOPLE IN THE COMING YEARS IN THESE CITIES. WE KNOW THAT BY 2030, BABY BOOMERS WILL BE IN THE 65 AND OLDER CATEGORY.>> ALEX, LET'S TALK ABOUT THE FLIPSIDE OF THIS. WHERE IS IT MORE DIFFICULT FOR YOUNG PROFESSIONALS TO

START THEIR CAREER?>> THE BOTTOM FIVE ARE ON THE BOTTOM FOR DIFFERENT REASONS. WE SAW NEW ORLEANS, MEMPHIS, SAKAMOTO, BIRMINGHAM AND RIVERSIDE ALL IN THE BOTTOM FIVE. WE DID SEE TWO OUT OF THE FIVE ARE IN CALIFORNIA. RIVERSIDE AND SACRAMENTO. THE RING TO POORLY ABOVE SUMMER METRICS INCLUDING COST OF LIVING AND UNEMPLOYMENT WHETHER WHERE IS MEMPHIS AND BIRMINGHAM ARE AFFORDABLE BUT THEY ARE NOT ADDING AS MANY

JOBS TO THEIR ECONOMIE