Millennials are getting married later, having kids later, and buying homes later in life compared to previous generations, which means just because many Millennials are currently aged 18-34, there is still plenty to learn from them. Especially when it comes to housing.
Many Millennials, as soon as they graduate from college, migrate to dense, urban centers with walkable neighborhoods that are conducive to the social connection elements they desire. As more Millennials begin to venture into home buying for the first time, builders and developers are going to have to closely monitor their patterns and adjust their long-term strategies, reports bizjournals.com.
One of the biggest changes many developers are looking at is how suburbs are going to need to change and adapt. If and when Millennials begin to leave the city to start their families, they aren’t necessarily going to want to leave behind all of the features and amenities of city living that caused them to move there in the first place.
Many suburbs are already becoming more densely populated, walkable, and more socially connected. But, like generations prior, there is always the chance Millennials will want to leave the urban lifestyle behind and venture to the suburbs for the good schools and quieter lifestyle they traditionally offer.