Suburban Tierrasanta, hip North Park – real estate trends show it’s not as black-and-white as urban vs. suburban, car vs. transit for Millennials picking a place to live. The future of our city depends on what we do with that information.
For San Diego Millennials, deciding where to live isn’t as simple as staking out the hipster, uptown neighborhoods.
Heeding the trends of their real estate choices can give us an idea how to plan for our region’s projected growth in population over the next few decades. Doing anything less would be a massive oversight by private industry and public policymakers alike.
Millennials, those currently between the ages of 18 and 35, made 31 percent of our city’s real estate purchases in 2014. If the job market continues to expand, and more young Americans can earn a living wage, that percentage will only grow.
Twenty-five percent of 2014 home purchases in Tierrasanta were made by Millennials in 2014. Tierrasanta is truly a suburban neighborhood, with a few grocery stores and small businesses. It serves primarily as a bedroom community for other commercial centers.