DFW Millennials – Who are they and Where are they?

It is hard to see an article these days where “millennials” are not mentioned.  Be it their housing preferences, their impact on office space utilization and buildout, or retail spending – they are the hot topic.

Millennial ages extend a bit younger than the 25-34 years used, but this is the core of the working age group that is really impacting housing demand, shopping, and working environments.  By doing this, we were also then able to “map” this group throughout DFW (the map below is a close-up of our greater urban core).

What was interesting is that purely based on age, there are 36,000 millennials in our core.  Not a bad number, right?  Well, if you look at the variety of variables that comprise “lifestyle” that number increases to 67,000 – and 51% of our urban core’s population.  Intuitively, this kind of concentration makes sense given what we see in the housing and job picture that is heavily influenced by Uptown.  Also impactful is that the millennial’s average income is $79,000!  Even though that is below the region ($84,700), don’t be so quick to jump to conclusions – their income is 18% higher than their age-based regional counterpart – and this is an average income for mostly a smaller household.  So, there is some very solid spending potential here.

COW October 30

San Antonio outpaces Austin, Houston in millennial gains

Think more young people are moving to Austin than San Antonio? Think again.

For the first time in, well, forever, the rate of millennials moving to San Antonio has edged out the hip Texas metro. According to a Bloomberg report, San Antonio had nearly a 30 percent jump in its millennial population between 2000 and 2013. Austin came in just a bit lower, with a 28 percent rise.

Read More Here on the San Antonio Business Journal

What Houston Millennials and Baby Boomers have in common when it comes to housing

On the surface, Baby Boomers and Millennials couldn’t be any more different.

The former, born between 1946 and 1964, grew up during the Civil Rights movement, the Cold War and space travel. The latter, born between the early 1980s and late 1990s, grew up with the Internet, terrorist attacks and the Great Recession.

Read More Here on the Houston Business Journal