Is it possible that millennials prefer the suburbs after all? After years of reading stories about how millennials are moving from their suburban hometowns to dense urban cores en masse, new population estimates from the US Census Bureau tell a different story.
According to the data, for the first time since 2010 suburbs are actually growing faster than cities throughout the United States. Specifically, the city growth rate is now at .82%, while the suburban growth rate is now at .89%. Not a huge difference to be sure, but enough to show that there is still a significant desire among millennials to live in their own single family home, with outdoor space, driveway, and all the amenities of suburban living.
From the Washington Post article:
As for millennials choosing suburban versus city life, a 2015 survey by the National Association of Home Builders found that 66 percent of people born after 1977 want to live in single-family homes outside of the urban center, including those currently living in cities. The new Census estimates may reflect that.
So what does this mean for those searching for a home in the New York City suburbs of Westchester, Long Island, New Jersey, and Connecticut? Mostly, that you aren’t alone, and that as real estate prices within the city continue to explode, the suburbs will continue to be a refuge for families looking for more space, great schools, and a more manageable lifestyle all around.
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