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Millennials in Washington, D.C. and the surrounding suburbs are "committed urbanists," whose presence is growing, says a new study of this generation's impact and preferences in the metro.
Older Millennials living in D.C., aged 33 to 34 years old) are more likely to be married/partnered and have kids, and are more likely to be homeowners than the younger Millennials, aged 23 to 32 years old. Older Millennials are also more likely to stay in D.C., at 56 percent, than younger Millennials, 43 percent, according to the study "Millennials Inside the Beltway" by the Urban Land Institute. At a recent ULI panel in the nation's capital, experts predicted that as Millennials' children grow, greater emphasis will be placed on quality of education at all levels.
This new study, which updated a 2015 survey, included more households with children—an increase from 12 to 20 percent. Almost half (49 percent) of respondents are married or partnered—up from 39 percent in 2015. Homeownership has increased from 28 to 33 percent. And median income has increased over 11 percent—from $66,636 in 2014 to $74,188 in 2017—exceeding the national growth rate. Income for partnered households in the D.C. area has grown even faster, now averaging almost $142,000.
