Courtesy of Chris Briem, the chart in this article shows that there has been a net-inflow of "Millenials" into the Pittsburgh MSA during the post-recession period:
http://blogs.wsj.com/economics/2013/11/1...gton-after-abandoning-city-in-recession/
Notably the overall movement of Millenials nationwide is still low by historic standards for people of their age range, which is likely because the recession and slow recovery has depressed their ability to move. However, the fact that Pittsburgh is now ranking relatively well on a list like this (#20 among the top 51 metros for the post-recession period) with a positive trend suggests that it stands to benefit even more as the recovery continues and Millenial mobility (likely) increases. Given the observable trends in housing preference among Millenials, all this specifically bodes well for more urban, walkable, and transit-friendly locations, which in turn means we should likely expect new multi-unit developments in such areas to continue to find tenants with relative ease.
Edit: By the way, Washington and Baltimore, particularly Washington, are also net gainers in the post-recession period. However, otherwise the big Northeast Coast metros (Boston, Providence, Hartford, NYC, and Philly) are all net losers. Some of that is business as usual--in particular cities which are big immigration gateways often see regular domestic outmigration--but still, I think it remains true that high housing prices in the Northeast Coast, particularly in otherwise desirable urban core locations, create opportunities for much more affordable metros like Pittsburgh to peel off younger adults, in much the same way that higher housing prices in California helped spark migration to the Pacific Northwest, Colorado, and so on.
But on a completely random aside--housing remains relatively cheap in the Texas cities too, but their attraction for millenials appears to be dropping rapidly. They do not necessarily need to panic yet--they still rank relatively high--but Texas economic growth is extremely dependent on high rates of in-migration, so they should probably be looking carefully at this trend and trying to figure out how to halt or reverse it. Same deal with the North Carolina metros, Atlanta, and other metros in the Deep South--in fact Atlanta dropped so low it is barely above Pittsburgh in the post-recession period. If continued that would be a terrible state of affairs for Atlanta.