What is Gen X looking for in a town?
It should be clear from yesterday’s blog:
Jobs, affordability, entertainment.
Jobs, affordability, entertainment.
Jobs, affordability, entertainment.
Jobs: This is the starting point, but the good news is that companies (and city economic development agencies) are realizing that they also need to relocate where Gen Xers most likely want to live, which means affordability with great entertainment. That works just fine with company executives as well. Keep in mind that the fastest growing companies are the homegrown entrepreneurial ones that aren’t imported. Invest in them.
Affordability: A Builder Magazine survey shows that most Gen Xers can’t afford more than $155,000 for a new home, and they definitely want to own rather than rent. That rules out Manhattan for starters, an oft-mentioned Gen X dream city. The fact that they’re not dependent on buying single-family homes evidences a greater demand than supply. Here’s some other ideas.
Entertainment: The easy way is to already have the best in outdoor recreation, like Denver, San Francisco and Charlotte. If not, then the key is building an entertainment mecca, much the same way Austin, Texas made itself the live music capital of the world. Crowdsource your own center of enviable nightlife.
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