Millennials are notorious for being eternal renters. There is a perception that young people nowadays refuse to become homeowners. In reality, however, buying a house has never been more difficult.
People, nowadays, deal with several problems that prevent them from buying a house such as the crutch of unpaid student loan debts, stagnant wages, and rising cost of real estate properties. Millennials are, therefore, forced to rent their homes thus living in urban areas where renting rates are high.
So, while many young people move out of rural areas to study and pursue their careers in big cities, living in urban areas have lost its charm. The pandemic also led to the rise of remote work as a primary source of income, not just a sideline or a temporary gig until something better comes along. There’s no more reason for a lot of young people to continue living in New York City, Seattle, and other state capitals.
Moving to the suburbs, and even in rural America, has become a viable option.
There are many benefits to living in a rural area, including:
Cheaper housing prices than in urban areas
Housing is one of the most attractive benefits of rural living.
Rent and housing prices in big cities are extremely high for most young people, and there’s no need to mention the costs of commuting and food which make a huge dent on the budget as well.
If you’re willing to move to more isolated areas, however, you might find affordable real estate properties. In big cities, a single-family home would cost a fortune. In the suburbs as well as in rural areas, many people will find single-family homes that are a better fit for their budgets.
These places typically have a less competitive real estate market. Fewer people are in need of housing compared to cities which means that the cost of homeownership is far lower.
There are also loans offered by the USDA to households in rural areas to purchase their own single family homes as long as they meet the income eligibility which is not more than 115 percent of the median household income.
The cost of homeownership is cheaper, and there are financial aids available to those who need it. So, why shouldn’t young people move to rural areas?
A slower pace of life, which can be relaxing after years of busy city living
Millennials struggle to deal with a fast pace of life in big cities. It’s easy to fall into a rat race where everyone is on the go all the time, and going about your day at a calmer speed seems like an impossible dream.
That is why a lot of Millennials are highly stressed, and many are experiencing symptoms of mental health disorders such as anxiety and depression.
Moving to a more rural area might be the answer as there is no need for expensive housing and commuting, but also as your day-to-day life will slow down. The stress of city living is gone, and the people in those areas are more relaxed.
There’s plenty of time to do whatever you want as there is no need to spend hours stuck in traffic on your way home from work or wait for a spot at the grocery store. You can enjoy a slower pace of life, and it might be the change of pace that you need.
Closer connection to nature and outdoor activities
A huge benefit of living in a rural area is the close connection to nature and outdoor activities. Activities such as hiking, biking, kayaking and camping are all available for those who want to get involved in local events.
Young people are increasingly yearning for more green in their lives. In the past couple of years, the number of Millennials and Generation Z who buy and take care of indoor plants have risen dramatically. Plants have become more than just an apartment decor. It’s a reflection of how much they want to be better connected with the natural environment, something that big cities cannot give them.
In rural areas, people are surrounded by nature. Contact with the outdoors is a given, not a bonus. Whether it’s by hiking through mountains or fishing on a riverbank, you will start to appreciate this aspect of your new location right away.
There are other benefits as well that Millennials can take advantage of if they choose to move to rural areas. Simply put, living in a rural area can offer many benefits that big cities cannot.