Millennials Doing Well in Vermont Overall, There’s Just Not Many of Them

Source: Vermont Business Magazine

Millennials have quickly become the leading generation of the United States over the past few years. This generation, born from 1981 to 1996, will become leaders in the workplace, and the biggest contributors to the economy. They will also continue to be political leaders and the drivers of social change. As they work towards this, it is important for millennials to live in the best environment. The good news for Vermont is that the state ranks 8th in the nation as the best state for Millennials; the bad news is Vermont has the fewest of them.

Millennials have experienced slower economic growth than their preceding and subsequent generations due to the multiple recessions that hit them at the highest points of their lifetimes. With the rising cost of living and inflation, as well as the impact of a global pandemic, there are a number of challenges to US millennials that will influence where they will live, work and dream. 

Scholaroo’s new report on the Best and Worst States for Millennials has gathered data on 52 metrics that impact this generation’s decision on where to live. Considerations such as the cost of living, homeownership rate, unemployment rate, and median student loan debt, amongst other factors. They have compared all 50 states and ranked them from best to worst for millennials.

They have discovered that while the living standards and economic situation for many have declined over the last two years, some states proved to be more livable for millennials than others.

And while Vermont ranks highly overall, Millennials in Vermont have increased their mental distress rate by 53% this year compared to 2018 numbers, positioning the state as the #7 place where millennials’ mental health has worsened, according to the 2022 Best & Worst States for Millennials , a study conducted by education research firm and scholarship website engine Scholaroo.

The Scholaroo report considers a depth of topics across 52 metrics in 7 key dimensions:  Affordability, Political & Social Environment, Employment, Quality of Life, Health, Personal Finance, and Safety. Read on to find out which state is the best, and how other states ranked in comparison.