Long thought to be the home of the newlywed and nearly dead, Victoria is now an up and coming hot spot for millennials, according to a new study.
Nanaimo? Not so much.
Vancouver’s Island’s hip, happening capital city took the number 2 slot, second only to Quebec City, ranking higher than both Toronto and Vancouver in the study from Point 2 Homes.
Nanaimo — you can ask your 20-something connections for the right adjectives — ended up 80th of the 85 communities ranked.
Victoria scored the highest in the country – tied with Saanich – when it comes to climate and life satisfaction. When compared to Vancouver, a lower crime rate and higher median income is making Victoria a more desirable spot. In fact, the second-highest percentage of millennials reside there.
The city also received props for topping the list of Canada’s most bikeable cities in UBC’s Cycling in Cities Research program and for its low unemployment rate.
Saanich was the only other Island city on the list. It finished 6.
Point 2 Homes, a real estate website that analyzes trends based on data, government sources and public records, ranked the cities based on nine criteria: housing prices, income, unemployment rate, life satisfaction, crime, health care, climate, level of education and the percentage millennials make up of the total population.
The survey determined Quebec City to be the number one most attractive place for millennials, followed by Victoria and then Guelph.
A few reasons for Quebec City’s favourable rating plays into the present and future goals for millennials: a low crime rate, the third lowest unemployment rate in the country and an above average yearly income. In addition, the benchmark price for a home is roughly $250,000.
None of Canada’s big cities – Toronto, Montreal, Vancouver or Calgary – even broke the top five, and seven of the top 10 have a population of under 500,000. Vancouver placed 10th. In fact, seven out of the top 10 cities have a population lower than 500,000.
Elesewhere in BC, Kelowna was rated 62nd most ideal, followed by Prince George at 66 and Kamloops at 73, Maple Ridge in 78th, Abbotsford in 79th and Chilliwack 82.
According to Point 2 Homes, quality employment and affordable housing are two key factors millennials consider when looking for a place to call home. But for this generation, a work-life balance is also at the top of the list, as well as leisure activities, a like-minded community and a city that is both safe and exciting.
Langley Township took the top honour as the least appealing Canadian city for millennials.