AUSTIN, Texas — Austin and Round Rock ranked among the top U.S. cities attracting millennials, a new study shows.
Financial technology company SmartAsset placed Austin at No. 6 and Round Rock at No. 17 out of 254 large U.S. cities. The study found that 105,089 millennials moved to Austin in one year, where they now make up 39.9% of the city’s population.
Round Rock, about 20 miles north of Austin, gained 12,048 new millennial residents, accounting for 32.6% of its total population.
“Locations that can attract millennials may benefit from stronger and more diverse workforces, disposable income flowing to local businesses, and additional tax revenue,” SmartAsset said. “On the other hand, it can also lead to more competitive housing markets and a change in the business mix for preexisting locals.”