The Millennial generation's choice for where to live following college correlates strongly with median income growth in their chosen city, says a new report from San Francisco-based Apartment List.

And with only a 5.5 percent increase in inflation adjusted median household income in the last 10 years, Denver's far from their first choice.

The Mile High City ranks 29th out of 50 major metros for the number of millennials who moved here in the past decade, an increase of just 1.3 percent,

To compile its report, Apartment List analyzed U.S. Census Bureau data from 2005 to 2015. It found that millennials flocked to Charlotte, N.C. above all other cities during that time period.

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