The Wall Street Journal recently conducted a poll to find out where young people are the most likely to go once the economic recovery takes place - and Austin managed to land in the number five position.
To determine its rankings, the Journal called upon the expertise of a wide range of professionals, including economists and demographers. The experts were asked to determine which areas would be the most attractive to young professionals based on a number of factors. While Austin faired well in terms of unemployment as well as its median household income, the capital city didn't compare quite as well as the other cities on the top ten list when it came to education. In fact, only 41.8% of Austin's residents between the ages of 25 and 35 hold a bachelor's degree or higher. In Washington, on the other hand, 61.3% of that demographic held a bachelor's degree. In Seattle, the percent of 25 through 35 year-olds holding a minimum of a bachelor's degree was 64.2%.
The variety of cultural and tech-related opportunities available in the Austin area were additional reasons why the city made it to the list. More specifically, the Wall Street Journal reported that "Austin has become a gathering place for tech- and arts-conscious young adults." The article went on to praise Austin for its numerous cultural attractions, including the South by Southwest and the Austin City Limits Music Festival. Still, some of the experts polled for the survey were concerned about how strongly the capital city would be able to recover from the recession.
In all, the top ten cities considered to be the most attractive to young people included:
• Washington D.C. (tied for first)
• Seattle, Washington (tied for first)
• New York, New York
• Portland, Oregon
• Austin, Texas
• San Jose, California
• Denver, Colorado
• Raleigh-Durham, North Carolina
• Dallas, Texas
• Chicago, Illinois