Population trends in many major metro areas include a reversal of the traditional flow of adults from urban centers into suburban enclaves. Increasingly, these suburbs are greying demographically while thirtysomething workers and apartment dwellers prefer to stay close to the urban action.
Asking different demographers why this is happening will get you different answers. Some point to lows in tolerance for commuting, suggesting that the rise of electronic virtual workspaces have the effect of naturally avoiding the scourge of commuter traffic. Others suggest the lifestyle preferences of millennials aren’t well-served by postwar conceptions of suburban life. Still others claim the allure of the city is growing in attraction as national crime rates fall.
Whatever the true reason(s) for any changes in your market, the shift in demand for work and apartment space is something you have to stay on top of. Servicing clients with the right solution means understanding and anticipating what is on their minds. When it comes to suburban-urban choices, recent selected market news on reverse suburban migration might help get a picture:
- Reverse migration from North Jersey to New York City signals a new challenge.
- Suburbs Try to Prevent an Exodus as Young Adults Move to Cities and Stay
- More Americans Moving to Cities, Reversing the Suburban Exodus
- Has The Great Migration From The Suburbs Begun [In Atlanta]?
- Downtown resurgence giving new life to Cleveland
- Millennials are Saving St. Louis, and Why We Need More of Them
(Photo credit: Mark Nye, ClubofHumanBeings.com)