Denver #3 City Nationwide to Move to for Millennials
Denver, CO – According to the 2016 Mayflower Movers Insight Study, Denver ranks #3 out of the top 10 cities for millennials to move. Dallas and Chicago came in at #1 and #2 respectively. The study is based on moves completed by Mayflower between January and December 2015.
In a statement released by Mayflower, Dr. Jeffrey Arnett, Research Professor in the Department of Psychology at Clark University, commented, “More than any generation before them, millennials have the freedom and flexibility to make moves in search of new experiences and opportunities.”
Dr. Arnett goes on to say that “This list of cities is consistent with the long-standing patterns of the U.S. population shift from the Northeast and Midwest to the South and the West.”
This report supports a number of articles lately focusing on Denver’s growing millennial population from The Wall Street Journal to Denver Real Estate Watch .
What does this mean for the commercial real estate market?
- Higher rents on multifamily units
- Influx of new companies to Denver that need office space
- Greater demand for infrastructure and access to a variety of transportation modes
Photo Credit: By No machine-readable author provided. MattWright assumed via Wikimedia Commons