A recent article from CBRE’s research team “busts” the popular narrative that millennial migration to cities is causing the decline of the American suburb.
“Census data disagree with the media on where millennials actually live and where they have been moving to,” writes Darin Mellott, Director, CBRE’s Research and Analysis.
The article reports only 30% of millennials live in urban areas. In 2014, more than half a million people between the ages of 25 and 29 moved from cities to the suburbs, while only 426,000 moved in the opposite direction. For younger millennials aged between 20 and 24, the flow was even more pronounced, with 721,000 moving out of cities to the suburbs and 554,000 leaving the suburbs to pursue city life.
Read more at CBREcapitalwatch.com