Although some millennial residents of the District and its inner suburbs have left the area in search of affordability or job opportunities, the majority plan to stay in the city. That’s according to a recent survey by ULI Washington, which is part of the Urban Land Institute, a nonprofit education and research organization.
Those millennials who move out of the area appear to be quickly replaced by young people new to Washington. Half of those who responded to ULI Washington’s survey said they “love D.C. and plan to stay forever.” While 62 percent of respondents live in the District, 38 percent live in suburbs inside the Beltway in Maryland and Northern Virginia.
About half of the older millennials (age 33 to 40) are homeowners and about three-fourths of the younger millennials (age 23 to 32) are renters.
Economists have been watching millennials in anticipation of how their behavior might change as they get older, marry and start families. Eighty percent of respondents in this survey don’t have children now. Fifty-nine percent of District residents surveyed said they don’t have children and don’t expect to have any by 2021, compared with 45 percent of suburban residents surveyed.
The survey found that compared with the 2015 survey, more millennials are becoming comfortable with the idea of living in the District or its inner suburbs for the long term and the idea of raising a family in the city. The share of respondents who said they can’t envision raising children in the District shrank to less than 20 percent, compared to 30 percent in a similar survey in 2015.