Monday, June 18, 2018
Business

St. Petersburg ranks as No. 1 millennial draw in Florida

For those who still think of St. Petersburg as luring retirees to hang out in "God's waiting room," the younger generation is poised to make its move.

St. Petersburg has been singled out by credit card promoter NerdWallet as the best city in Florida for drawing in millennials. Across the bay, Tampa was nipping at its heels as the third-most-attractive market for those ages 20 to 34, while Clearwater came in at No. 12.

NerdWallet dissected conditions in 93 cities and towns statewide based on four factors: number of jobs, salaries, rent and the number of other millennials living there.

St. Petersburg's top ranking was tied to "a thriving economy with the average payroll salary of $47,471," or $13,500 higher than the average among the cities studied, NerdWallet said. It also cited headquarters like Raymond James Financial, EverBank and Jabil Circuit; median rents of $924 a month; and a "bustling" restaurant and entertainment district downtown.

Since 2010, St. Petersburg's millennial population has increased 6 percent.

Tampa, due partly to the University of South Florida, boasted a 7 percent increase in millennials; that demographic now accounts for 24 percent of its residents. The city's average salary of $47,306 is 28 percent higher than the average among Florida cities and towns.

With the rate of homeownership dropping to a new low among millennials last year, affordable rent played a key role. Seven of the best-rated cities have rents less than the state's median of $946 a month.

Overall, youngsters tend to gravitate to urban areas, the analysis concluded, with seven of the top 10 cities having populations exceeding 100,000.

But there were clear exceptions: Orlando, which outpaced Tampa Bay 2-1 in job creation last year, didn't even crack Florida's Top 10.

Contact Jeff Harrington at [email protected] or (813) 226-3434. Follow @JeffMHarrington.

Comments
Private Florida firm buys Rent-A-Center in $1 billion deal

Private Florida firm buys Rent-A-Center in $1 billion deal

An Orlando private equity firm has purchased lease-to-own business Rent-A-Center in a deal valued at more than $1 billion.Vintage Capital Management put a bid in for the company on Friday: $15 per share, $1 per share above its previous offer. Rent-A-...
Updated: 8 hours ago
Report: 40 percent of Florida property will be ‘highly exposed’ to flooding

Report: 40 percent of Florida property will be ‘highly exposed’ to flooding

One of Florida’s biggest draws is also one if its biggest liabilities — its coastline. A new report projects that Florida is at the greatest risk of any state for tidal flooding caused by rising sea levels. And Tampa Bay faces some of the greatest ri...
Updated: 8 hours ago
Mazzaro’s gets ready to reopen

Mazzaro’s gets ready to reopen

day after an electrical fire broke out in its dry goods warehouse Friday night.Dominic Horwath, a grocery manager at Mazzaro’s on 22nd Ave. N, said staffers spent Monday and the weekend moving things into other warehouses.The damage from the fire at ...
Updated: 9 hours ago
Mazzaro’s market set to reopen Tuesday after blaze damaged one of its warehouses

Mazzaro’s market set to reopen Tuesday after blaze damaged one of its warehouses

ST. PETERSBURG — Mazzaro’s Italian Market is scheduled to reopen Tuesday after an electrical fire broke out its dry goods warehouse Friday night.Dominic Horwath, a grocery manager at Mazzaro’s on 22nd Avenue N said staff spent Monday and the weekend...
Updated: 11 hours ago
Developer Grady Pridgen buys St. Pete’s shuttered Edward White Hospital

Developer Grady Pridgen buys St. Pete’s shuttered Edward White Hospital

ST. PETERSBURG — Edward White Hospital, closed four years ago because of declining revenues, has been sold to developer Grady Pridgen for $2.7 million.Pridgen could not be reached Monday for comment. City officials said he has submitted plans for rem...
Published: 06/18/18

Hernando Business Digest for June 22

Business digestBrieflyHOSPITAL RECEIVES AWARD: Oak Hill Hospital in Spring Hill was the recipient of Healthgrades 2018 Patient Safety Excellence Award, a designation that recognizes superior performance of hospitals that have prevented the occurrence...
Published: 06/18/18
Pasco Business Digest for June 22

Pasco Business Digest for June 22

Business digestBrieflyHOSPITALS RECEIVE AWARD: Regional Medical Center Bayonet Point and Medical Center of Trinity were recipients of Healthgrades 2018 Patient Safety Excellence Award, a designation that recognizes superior performance of hospitals t...
Published: 06/18/18
Tampa Bay gas prices keep falling

Tampa Bay gas prices keep falling

The summer reprieve in gas prices is continuing.After flirting near the $3 mark, Tampa Bay gas prices fell another six cents a gallon over the past week to an average of $2.65 for unleaded, a wide gap with the national average of $2.91 a gallon, acco...
Published: 06/18/18
Your barista is a robot. Should it be friendly?

Your barista is a robot. Should it be friendly?

SAN FRANCISCO - The cold, steely arm of Fernando the Barista swirled the foam of my matcha latte, set it down gently, and waved goodbye from inside a glass case. San Francisco, 2018. Where you can get robot pizza and robot salad, and now, a robot mat...
Published: 06/16/18
Riverview’s commercial real estate prices rise as community booms

Riverview’s commercial real estate prices rise as community booms

RIVERVIEW — The basic economic principle of supply and demand defines Riverview’s current struggle with commercial real estate.With a lack of available affordable commercial properties and a booming population, demand currently exceeds supply in Rive...
Published: 06/15/18
Updated: 06/18/18