Quote:
Originally Posted by Jasonhouse
According to this list, DC even outpaced NYC in raw numbers, even though NYC has a population that is several times larger.
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To me, that makes total sense. NYC does not seem to have growth in millennials concentrated anywhere in a three mile radius of Midtown. Millennials are obviously moving to NYC in very large numbers, but not within the prescribed three mile radius of the core. It's way too expensive, limited rental housing, and culturally not for for 20-somethings,
You would get a much higher rate of increase or net increase if you did a three mile radius of Prospect Park or McCarren Park or something, but that's nowhere near the city center. The fact is that millennials concentrate in places not directly in the core (really mostly Brooklyn, Queens, JC, and far uptown, with wealthier millennials downtown).
In contrast, DC has significant rental housing development targeting millennials in and around the traditional city center. Core NYC development is almost 100% luxury for sale.