Gen Z is thriving financially in these US cities, new report says

(NEXSTAR) — A new report has found that nearly a third of Gen Z — also known as Zoomers — already feel financially secure thanks to having both a job and a side hustle, particularly in certain cities around the U.S.

Due to the current economy, most Zoomers are looking for that sense of security and are willing to do whatever it takes to find it, the study suggests. According to LendingTree , at least 55% of young Americans have a side hustle on top of their current job. Thanks to the extra work, they’re making an extra $1,253, on average.

Gen Zers in some areas of the country are doing much better than others, however. MoneyGeek looked at data from cities across the U.S., using various metrics to determine where young adults are thriving in areas such as economic opportunity and quality of life. What the final data shows is that Zoomers are having better luck financially out West.

This is due to the average median household income in the West sitting at $53,497 — nearly $12,000 more than the next closest region, the Northeast.

As for cities in the region, Salt Lake City, Utah, lands at the top of the list. The city has seen a 41% growth in its young adult population and holds the lowest federal student loan debt per borrower at $11,062.

Rounding out the rest of the top five are Abilene, Texas; Des Moines, Iowa; Boise, Idaho; and finally Las Cruces, New Mexico.

Here is how the rest of the country ranked in terms of Zoomers thriving financially:

More about these cities and their opportunities for Zoomer can be found at MoneyGeek’s website.

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