The Urban Land Institute surveyed 1,270 people age 19 to 36 in November 2014 to find out where members of this cohort are living.
The study found that a majority of respondents -- 35 percent -- said they lived in neighborhoods within central-city boundaries, but further away from the downtown core. These neighborhoods tend to be within reach of the average Millennial, which the study says has an annual income of $35,000 - $49,999 for 27 percent of the respondents, and $50,000 - $74,999 for 24 percent of the respondents, while still close to entertainment, amenities and public transit.
Only 13 percent of respondents said that they lived in the central business district or immediately around it. Thirteen percent said they lived in a dense, older suburb, while 15 percent said they lived in newer suburbs. Small town Millennials made up 17 percent of the survey, and rural Millennials only 7 percent.