Majority of Millennials Plan to Stay Inside the Beltway
A new report sheds some interesting light on the ever important Millennial demographic.
ULI Washington recently released Millennials Inside the Beltway: Optimistic Urbanists, the findings of an in-depth survey of Millennials living in DC and surrounding areas. Among the findings are that 67% of Millennials rent in DC or inside the Beltway and 60% plan to continue making the area home over the next three years. Of the Millennials planning to put their roots down long-term, 42% plan to buy a house or condo. As expected, walkability and transit options rank high on the list of Millennial priorities, with over two-thirds of respondents indicating that walkability is the best attribute while scouting locations and 65% ranking Metro accessibility among their top three reasons for selecting or staying in their current location.
DC recently topped the charts for all 75 markets analyzed when it comes to Millennial residents, with 38.2% of residents between the ages of 16 and 35, outpacing the Millennial hotbeds of Manhattan, Brooklyn and Austin. [ULI]