Milwaukee area ranked high as a place for millennials with student debt to live

Report also puts La Crosse in its top three

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Last updated on July 2nd, 2019 at 09:07 am

The Milwaukee and La Crosse areas were named two of the top three places in the nation for millennials with student debt to live in a new report from New York-based RewardExpert.

RewardExpert.com Inc. says its service helps “people get the maximum benefit for their spending and flying.” In its 2018 Best & Worst Cities for Millennials with Student Debt report, RewardExpert ranked the metro Milwaukee area as the third best, and the La Crosse area as the second best. Lincoln, Nebraska was named the best place for millennials with student debt by the report.

“The Milwaukee metro area scores highly for housing and transit access and affordability, with median rent at $740, median monthly costs for homeowners at $1,328, and an above average median income for renters, who make up 39.59 percent of area residents,” the report states. “Median student debt for the Milwaukee CBSA is $1,072 lower than the national average, and younger residents have lower than average total debt burdens and lower credit card balances.”

When evaluating the best places for millennials with student debt to live, RewardExpert said it looked for areas with “a favorable job market, housing market, business climate, and a positive generational trend where there is a growing population of younger, educated individuals, who are doing well for themselves compared to their older, more established new neighbors.” The report used 23 metrics grouped into five categories: housing availability and costs, transportation infrastructure and transit access, availability and accessibility of jobs requiring a college degree or higher, taxes rates and local trends in debt and credit.

The worst places for millennials with student debt to live, according to the report, are: Meridian, Mississippi; Dothan, Alabama; and Wilmington, North Carolina.

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Andrew is the editor of BizTimes Milwaukee. He joined BizTimes in 2003, serving as managing editor and real estate reporter for 11 years. A University of Wisconsin-Madison graduate, he is a lifelong resident of the state. He lives in Muskego with his wife, Seng, their son, Zach, and their dog, Hokey. He is an avid sports fan and is a member of the Muskego Athletic Association board of directors.

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