When deciding where to settle, young professionals must consider not only job availability but also affordability. Frisco, Texas is one place professionals should consider.
According to a study by Pheabs, an online loan provider, the cost of living in the U.S. is steadily increasing, with data from the consumer price index indicating that shelter costs rose by 5.7% between Feb. 2023 and Feb. 2024.
With Americans spending about 33.3% of their income on housing, this becomes a significant factor. Additionally, aspects like safety, activities for young people and family-friendly environments are crucial considerations.
Coming in 13th in the ranking is Frisco. According to the study, Frisco, the second Texas city on the list behind Austin, is becoming increasingly popular among younger generations. While housing and utility costs are above the national average, everyday expenses like transportation, gas and groceries are lower.
The study found that Frisco residents have an average salary of $53,583, while rent prices come out to about $1810. In the city, 25.6% of residents are between 25 and 34 years old.
Frisco is also recognized as one of the safest cities in the U.S., a factor that is highly valued by Gen Z and Millennials. Local Profile previously reported that residents and visitors in Frisco only have a 1 in 1,000 chance of being the victim of a crime, making it the fifth safest city in the U.S. With 94 violent crimes per 100,000 people (ranking 11th safest) and 901 property crimes per 100,000 people (also ranking 11th safest), the community exhibits relatively low crime rates.
The study also highlighted that the city offers numerous parks and trails, as well as a vibrant downtown filled with shopping, entertainment and dining options, ensuring that young professionals have plenty to do outside of work.
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