The findings of a recent study about Generation Y support what people have been saying for years: members of the group want to live in walkable neighborhoods (76 percent), in medium-to-large cities (40 percent), and close to shopping and dining options and their workplaces (62 percent).
The results came from an Urban Land Institute (ULI) report, “America in 2013“, that surveyed Americans across several generations and demographic groups.
54 percent of Generation Yers — a loosely applied label to people who were born between 1980 and 1990 — are also renters, which means many experts are watching them carefully as their next move could shape urban growth patterns. “On the whole, the survey suggests that demand will continue to rise for infill residential development that is less car-dependent, while demand could wane for isolated development in outlying suburb,” stated ULI.
In contrast to Gen Y, many members of Generation X (born between 1966 and 1978) favor single-family suburban neighborhoods, and don’t mind commuting by car (though most — 54 percent — would appreciate a shorter commute).
Overall, 61 percent of respondents stated that they would prefer a smaller home with a shorter commute over a larger home with a longer commute, and 53 percent want to live close to shopping options.
This article originally published at http://dc.urbanturf.com/articles/blog/what_does_generation_y_want_walkability_and_city_life/7074
Most Popular... This Week • Last 30 Days • Ever
UrbanTurf has compiled virtual looks at large new developments around the DC region.... read »
The seven-bedroom home hit the market on Friday and was under contract by Sunday.... read »
Loan recasting is a growing practice- so what is it?... read »
The 25-acre array will produce a quarter of the university's current annual energy co... read »
This year will likely go down as the year that prices for houses in DC reached new he... read »
The preferred mortgage product among most home buyers is the fixed-rate mortgage. How... read »
STAY DC provides rental aid and utility payment grants to at-risk District residents ... read »
The planned 8-unit development would be located on K Street right along the Potomac R... read »
Landmark Theatres is in the final stages of negotiations that would have it operating... read »
The 12,000 square foot replica of 1600 Pennsylvania Avenue went under contract last w... read »
With this weekend's DC houseboat tour a day away, UrbanTurf thought it only fitting t... read »
President Obama travels to Denver this morning to sign the stimulus bill that has bee... read »
In this week's installment of Ask An Agent, a reader wonders if there is a rule for h... read »
As The Wharf prepares to begin construction, DC's houseboat community heads to its ne... read »
In this week's installment of Ask An Agent, a reader asks a fairly common question th... read »
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Visit guides.urbanturf.com or start browsing below!
Intro guides for first-time home buyers
Awesome and unusual real estate from across the DC Metro