ULI’s recent report shows, surprisingly, only 13 percent of Millennials live in downtowns; the majority live in less centrally located and more affordable neighborhoods. Twenty-one percent live with parents. With apartment rents rising aggressively, it’s logical Millennials are trying to save money.
My generation remains steadfast in wanting urban characteristics – walkability, transportation alternatives and accessibility – no matter where we choose to rent or buy. The report showed Millennials were optimistic about future home ownership, while some prefer the flexibility of renting.
Millennials – often cited as why many corporations move into the city – are an “intriguing combination of optimism and realism.”