1st Lake Blog

The Daily Beast Names New Orleans A Most Aspirational City

As if you needed another reason to move to New Orleans, the Daily Beast just named the Crescent City the second top Aspirational City in the U.S.

The criteria for the cities recognized in the study was based 50% on the health of the economy, 25% on the quality of life and another 25% on demographic factors. Most of the cities that ranked as the top for attracting ambitious and aspirational individuals and business are located in the South, with New Orleans coming in at number two, just below Austin. They are not huge metropolises or conglomerates, but “culturally vibrant,” and “modest sized,” two characteristics that definitely describe New Orleans.

The factors that the study looked for to designate these top aspirational cities were largely economic indicators including employment growth, per capita income and unemployment rates as well as demographic information such as the “growth of domestic migration and the movement of college-educated people and the foreign born.”

Finally, another major factor that contributed to determining New Orleans as the second most aspirational city was “urban arbitrage,” which The Daily Beast defines as “places that provide not just economic and cultural opportunity but a cost structure that allows them to enjoy their success to the fullest extent.” Furthermore, New Orleans was noted as providing a rich cultural experience and possessing progressive social qualities while maintaining low costs, less regulation and lower taxes found in a “red state environment.”

More and more people are moving to New Orleans from all over the country, and with all the fantastic apartments in greater New Orleans that 1st Lake Properties offers, there’s no reason not to!