Millennials Are The Largest Generation in CO Today
According to 9news, millennials represent 52% of everyone who moved to the Denver metro area in 2014. Which means that those students are now mostly graduated and in their mid-twenties. But the cycle of life continues as more and more young people flock to Colorado, whether it be for the culture, the schools or both.
I'm a millennial, and I know we get a bad rap but truth be told, I'm tired of being lumped in with children. I am 28 years old and have a toddler, in fact, the youngest millennials are now 23 and the oldest are 38. Your average college kid is actually a member of Generation Z.
Let's get to know millennials as they are now:
- Millennials represent 52% of everyone who moved to the Denver metro area in 2014
- 38% of entrepreneurs in Denver are millennials
- Millennials earn less than their predecessors. According to a study done by the Young Invincibles, young adult workers (aged 24 yrs-36 yrs) earn a median income of $40,581. When adjusted for inflation, that figure comes up short by about $10,000 when compared with what their parents were earning at the same age.
- Millennials save money at the same rate as their parents. According to a T. Rowe Price Survey, Millennials and the preceding Generation X save an average 8% of their annual salary. Baby Boomers save 9%
- Despite a reputation for being self-centered, millennials are arguably the most charitable generation. According to a recent survey, 84% of Millennials make annual charitable donations and up to 70% volunteer their time and talents to causes they consider worthwhile.
- Millennials have twice the student debt as the previous generation. According to findings gathered by The College Investor, the average student debt burden for a U.S. millennial has grown to almost $40,000.
With so many young people coming to Denver, many with major student loan debt, and a housing crisis, students at Auraria Campus had some questions for Mayor Michael B. Hancock.