Where Do College-Educated Millennials Live?

2 Replies

http://www.redfin.com/research/reports/special-rep...

7 attributes of the urban neighborhoods where the young and educated cluster

There has been a lot of speculation about how the millennial generation (ages 25 to 34) is affecting today

Brie Schmidt, Real Estate Agent in Wisconsin (#57846-90) and Illinois (#471.018287)

I am surprised to see Chicago has such a strong showing. What are those neighborhoods like? Are they higher priced areas? How do they appreciate compared to other Chicago areas?

Originally posted by @Manch Hon:

I am surprised to see Chicago has such a strong showing. What are those neighborhoods like? Are they higher priced areas? How do they appreciate compared to other Chicago areas?

I'm not surprised at all.  Chicago is basically the perfect mix for this type of study because it's highly desirable areas, densely populated and reasonably affordable (although definitely not cheap).

For instance, I would expect New York to be #1 in millennial renters, but prices are just too high for millenials to buy.  Chicago is an amazing city with great jobs (probably #2 behind New York for that) and much more affordable.

Most of the rest of the country isn't densely populated enough with young professionals to register based on the criteria here.  Chicago has neighborhoods full of condos where very few people (if any) over 40 live.

The "popular" places in Chicago are excellent for young professionals until they have kids, then it becomes tougher to justify staying there and most move to the suburbs or a quitter area of the city/

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