Would you rank Davenport as the best Midwest city for millennials? This week, a finance-oriented website did just that.
The Ascent, a financial analysis service of The Motley Fool, analyzed the top Midwest cities for millennials (ages 22-40), who are a growing force in the housing market. “They account for the largest group of homebuyers by generation, even though the majority of millennials are not yet homeowners,” according to the website.
With millennials entering the typical age range for first-time homebuyers, The Ascent evaluated the largest cities in the Midwest for millennial homebuyers, and ranked the top 10. They ranked those cities based on cost of living, home prices, homeowners insurance premiums, car insurance premiums, and social equity.
Davenport rated ahead of such Midwest cities as Milwaukee, St. Louis, Indianapolis, Des Moines, Cincinnati and Cleveland. Chicago did not make the top 10 in this list.
“While Davenport falls short when it comes to public transit, it has below-average healthcare and childcare costs, as well as excellent recreational and cultural amenities,” The Ascent wrote July 18. “Davenport is home to several major music festivals and has more than 50 public parks and miles of biking and walking paths. Davenport has one of the lower costs of living among Midwest cities — and the lowest average home price on our list.”
The numbers for Davenport noted —
- Average home price: $152,300
- Median car insurance premium: $1,661 per year
- Average home insurance premium: $1,502 per year
Visit Quad Cities posted on social media Thursday of the rating: “Nice work, Davenport. Fantastic recognition and big opportunity to leverage for the Quad Cities regional destination.”
To see the complete list, click HERE.