This U.S. City Was Named the Best Place to Live for Young Professionals — and No, It’s Not New York, San Francisco, or Chicago

During the 2000s and 2010s, wealthy young people gravitated toward destinations like New York City and San Francisco, where employment opportunities and upscale amenities abound. However, this is no longer the case, as Generation Z (born between 1997 and 2012) and millennials (born between 1981 and 1996) seek places that balance safety and economic prospects. And they are finding it in New England.

Cambridge, Massachusetts, was recently named the best place to live for “the young and wealthy” by the personal financial website GoBankingRates.com, which analyzed data on employment, household income, crime rates, and overall quality of life in cities nationwide to determine the winners. 

According to the report, over 40 percent of Cambridge’s population is aged 25 to 44, and 63 percent of households in that age group have an income of $150,000 or more. The town received a livability score of 86 out of 100, cementing its place at the top.

Sitting on the north bank of the Charles River, across from Boston, Cambridge is home to the oldest higher education institution in the country — Harvard University. The city’s cultural roots run deep as it also pioneered book printing in the country in 1638.

Cambridge has come a long way since its early days as a quiet farming village. This year, Niche.com rated it the best place for young professionals to live in America and the third-best city overall, thanks to its top-notch public and private education, quality health care, and excellent family-friendly amenities.

The city is connected to Boston via the T, allowing residents an easy commute to one of the top employment markets in the country. Those pursuing a career in academia and research will find some of the best opportunities in Cambridge, where the Massachusetts Institute of Technology and Lesley University are among the top employers and several biotechnology and software companies.

Families who settle in Cambridge have much to look forward to. With over 80 parks, open spaces, and playgrounds, there are many ways to enjoy the outdoors, including kayaking and swimming in the Charles River.

However, moving to this historic New England community has a steep price tag. According to Zillow, the median home value is almost $1 million, while the median rent is $3,200. And the cost of living is an eye-popping 70 percent higher than the national average.

Jersey City, New Jersey, is second on GoBankingRates.com’s list. A little over 40 percent of its population is aged between 25 and 44, and 23.6 percent of those households make over $150,000 annually. Santa Clara in California’s Silicon Valley is third.

However, overall, Texas is emerging as the go-to place for wealthy Gen Z and millenials. Seven of its cities ranked in the top 50, while Florida, on the other hand, had none.

You can read the full list on gobankingrates.com.