realestate

Elite colleges attract affluent youth seeking refuge from urban chaos

Boston's affluent suburbs attract high earners seeking a high quality of life near top universities.

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ambridge, Massachusetts has emerged as the top destination for young, high-earning professionals seeking a more relaxed pace of life and opportunities to grow their wealth. According to GOBankingRates, this affluent city beats out iconic destinations like Manhattan and LA in terms of safety, livability, and financial potential.

    With its historic charm, cultural vibrancy, and proximity to Boston, Cambridge checks all the right boxes for young professionals. The city boasts a low crime rate, a thriving culture, and an enviable location just across the Charles River from Boston. A staggering 63% of households in Cambridge earn $150,000 or more annually.

    The city's demographics also make it an attractive choice: over 40% of residents are between 25 and 44 years old, and more than half of those households earn at least $150,000 per year. Cambridge's livability score is a robust 86 out of 100, driven by its low crime rate and easy access to Boston's booming job market.

    According to Realtor.com chief economist Danielle Hale, the region's success can be attributed to its appeal for high-paying industries. "The region is an education hub, home to many top universities, and as a result, attracts workers in high-paying knowledge industries like technology and research," she said.

    Jersey City, New Jersey, and Santa Clara, California, took second and third spots on the list of top destinations for young professionals. Other hotspots like Austin, Texas, and Hillsboro, Oregon, rounded out the top 10. Meanwhile, Massachusetts cities like Springfield are also experiencing a surge in popularity, with homes selling at an unprecedented rate of three times the national average in just 37 days.

Affluent young people fleeing urban chaos seek refuge at elite college campuses.