Red Bank and Soddy-Daisy both placed on Niche.com’s list of the top suburbs in Tennessee for Millennials.Red Bank and Soddy-Daisy are among the top 10 suburbs in the state for Millennials (people ages 25-34), according to a recent report.
National rankings and evaluation website Niche.com ranked 3,619 municipalities based on responses to a survey which landed Red Bank third place on the list and Soddy-Daisy eighth.
The rankings were calculated using a range of factors affecting Millennials, such as the suburbs’ job opportunities and access to bars, restaurants and affordable housing, as well as the percentage of the population which falls under the Millennial category.
Red Bank was ranked behind Millington in Shelby County and Millersville in Sumner County.
The Chattanooga suburb owes its high rank to its proximity to restaurants, receiving a grade of A-; its short commute to Chattanooga, receiving a B grade; and its proximity to coffee shops and bars, graded a B-. The median home value of $122,700 and median rent of $678 per month are also relatively low, and Millennials make up a fairly large percentage of the population at nearly 20 percent.
“In the last six years we have worked really hard to change the image of the city,” Red Bank Mayor John Roberts said as to why he believes Millennials are attracted to the small suburb. “Another big reason is the close proximity to Chattanooga. You can be downtown in five minutes.”
The addition of a farmers market and a coffee shop and music venue in the past few years may also contribute to Red Bank’s popularity with Millennials, he said.
The area that cost Red Bank the most points was crime and safety, with a grade of C-. Police Chief Tim Christol said that so far this fiscal year, property crimes are down 20 percent. Roberts said that in general, Red Bank is a safe city, adding that it has four officers on duty at all times, and the small area of the city means a quicker response time from police.
Rising home values – by 20 percent in the past year, according to Roberts – may hurt the city’s ranking in the future.
Soddy-Daisy received a lower rank than Red Bank because of its limited access to bars, higher median rent of $743 per month, and smaller percentage of resident Millennials, at 15 percent of the population.
East Ridge and Lookout Mountain just missed making the top 10 at numbers 14 and 16, respectively. Signal Mountain was ranked 20th.