5 Great Cities for Gen Y'ers

Pittsburgh hosts the stories Steelers football franchise, Pirates baseball team and Penguins hockey club.

While there's no professional-basketball team, the University of Pittsburgh Panthers have made the NCAA Men's Division 1 National Championship Tournament for 10 of the past 11 seasons.

In addition to the 28,800-student University of Pittsburgh, the 2.4 million-population Pittsburgh area also hosts 11,600-student Carnegie Mellon University, 10,100-pupil Duquesne University and several smaller schools.

There are also lots of sports bars and nightclubs to attract Millennials.

Pittsburgh also boasts a low 6.6% unemployment rate, $1,074 average rent and $143,250 median home price.

Realtor.com lists roughly 4,600 Pittsburgh properties for sale, from a $6,000 two-bedroom home to a $2 million three-bedroom condo in a complex a developer is carving out of a former downtown department store.

Tallahassee, Fla.

Florida's state capital offers Gen Y'ers a modest 7.2% jobless rate and low-cost housing -- $787 a month average rents and $159,000 median home prices.

And as home to the 40,400-student Florida State University, Tallahassee has plenty of educational opportunities and lots of youth-oriented nightclubs.

Outdoor enthusiasts will also appreciate the 367,000-person metro area's lush greenery and its proximity to the nearby Apalachicola National Forest and the Gulf of Mexico coast just 20 miles away.

"Because it's close to the Gulf Coast, Tallahassee has a very casual vibe that will appeal to Millennials," Reynolds says.

As for housing, Realtor.com lists some 2,000 Tallahassee homes and condos for sale, starting at $15,000 for a four-bedroom house and running to $4 million for a 4.7-acre estate.