Grand Rapids is No. 2 city in US where millennials are 'winning'
Grand Rapids is considered the second-best city for millennials in the country.
A report released today by the real estate company Trulia, "Grandpa was a Millennial," compares adults ages 28-32 to those ages 33-55 over the past 55 years.
The report found that Grand Rapids is among the top cities where millennials are "winning at adulting" and more likely to own homes, make more money and have jobs compared to older generations — ranking No. 2 in the report's index of the "Best and Worst Places to be a Millennial," as of 2015.
Philadelphia is first, Omaha, Nebraska is third, New Orleans is fourth and Oklahoma City is fifth.
The report's findings on milliennials aren’t too far off historical norms for other generations at similiar stages in life.
“Many narratives surround the current state of millennials are being made outside the context of what every young adult does at unusually high or low rates and regardless of where the long-term trends have been pointing for decades,” the report says.
Living with parents
The report found millennials are just as likely to live with parents as gen X-ers were in 1999 and less likely than baby boomers in 1982. The silent generation was the least likely of all in 1964.
Thirty-nine percent of millennials live in a home they own, compared to 63 percent of people ages 33-55.
Truila said it’s the largest gap in homeownership since the U.S. Census Bureau started asking the question in 1976.
Millennials make 78 cents for every dollar earned by employees ages 33-55, better than the all-time low of 72.6 cents in 2015, but less than the 92.4 cents earned in 1963.
Young adults are hit hardest by recessions, according to the report, tending to lose jobs and live at home at higher rates during times of recession.