Moving

Cambridge ranked the No. 2 spot in the US for millennial move-ins

Zillow says the average value of a home there is nearly $1 million, which may not seem like millennial-friendly pricing.

Cambridge has become one of the most popular cities for movers ages 25-44, only second to Alexandria, Va.

January 17, 2025

2 minutes to read

If Boston is a finance bro, Cambridge is its cool younger sibling. With a vibrant restaurant scene, lively neighborhoods, and strong community, obtaining a Cambridge address has a well-deserved “je ne sais quois”.

The city sits at No. 2 in the rankings of 271 US cities based on the number of millennials who relocated there recently, according to a study SmartAsset did using US Census Bureau data. Millennials are defined in this study as people ages 25 to 44.

Here are the top 10:

RANK	CITY	MILLENNIAL MOVE-INS AS % OF POPULATION	TOTAL MILLENNIALS AS PART OF POPULATION
1	Alexandria, Va.	12.67%	39.54%
2	Cambridge	12.15%	40.66%
3	Denver	11.78%	40.95%
4	Sandy Springs, Ga.	11.63%	39.36%
5	Seattle	11.51%	42.09%
6	Sunnyvale, Calif.	11.2%	39.04%
7	Santa Clara, Calif.	10.88%	40.46%
8	Arlington, Va.	10.78%	38.8%
9	Austin	10.69%	40.79%
10	Orlando	10.49%	36.52%

Source: SmartAsset

In Cambridge, 39 percent of these movers came from out of state, the personal finance site reported.

Cambridge is a perfect spot for the young and upcoming, so it’s no surprise that millennials are flocking there. But the mystery of it all? Zillow says the average value of a home there is nearly $1 million, which may not seem like millennial-friendly pricing given that the age group is composed of recent graduates entering the workforce, newlyweds, and first-time parents.

Cambridge also consistently ranks as one the priciest rental markets in the state, according to ApartmentAdvisor, an online marketplace. The median rent for a one-bedroom apartment there was $2,939 in December, a 1.5 percent increase month over month and a 1.1 percent rise year over year. Only Brookline had higher rents.

So how are millennials affording it?

The demographic Cambridge is attracting is not just young people, but the “young and wealthy,” according to GoBankingRates, a financial information and advice site. Cambridge was ranked as the top city for this demographic: Out of the millennials living in Cambridge, 63 percent have an income of $150,000 or more.

“I would say most of my clients under the age of 35 have received significant funding from parents or grandparents. But there are also those that are just well-educated and getting good jobs,” said Dino Confalone, director of the Massachusetts Association of Realtors and a Cambridge-based agent. “Cambridge is phenomenal.”

These young people are steering away from typical hubs like New York City and Los Angeles and opting for areas with more safety and economic stability, according to GoBankingRates. Cambridge has a high quality of life, with a low crime rate, access to health care and education, walkability, and diversity.

Graduate school is another factor drawing the age group to the city. Conveniently located near major universities, and housing a few of its own (ever heard of Harvard and MIT?), Cambridge serves as an ideal home base for incoming students — and a great place for them to stay long after graduation as they begin to settle into a more stable lifestyle.

With its high price tag, a Cambridge home may not be accessible to everyone, but its perks and growing young population make it just as alluring for visitors.