In 51 of the largest cities in the US, the college educated 20-to-30 year old population has increase 26% in the urban areas of those cities. What does that mean for Jacksonville FL? With one of the largest historic areas in the US, the demand for homes for sale in the Riverside, Avondale, Springfield and San Marco areas has grown for this age group also. Within minutes of downtown, these neighborhoods are now offering homes priced for the first time home owner.
Located in 5 Points of Riverside, Traditions Realty’s assoicates know these neighborhoods. Meet with an assoicate today and explore the homes for sale and rent in these urban historic district areas. Read more below.
Young and educated show preference for urban living
WASHINGTON – April 1, 2011 – Educated 20- and 30-somethings are flocking to live downtown in the USA’s largest cities – even urban centers that are losing population.
In more than two-thirds of the nation’s 51 largest cities, the young, college-educated population in the past decade grew twice as fast within three miles of the urban center as in the rest of the metropolitan area – up an average 26 percent compared with 13 percent in other parts.
Even in Detroit, where the population shrank by 25 percent since 2000, downtown added 2,000 young and educated residents during that time, up 59 percent, according to analysis of Census data by Impresa Inc., an economic consulting firm.
“This is a real glimmer of hope,” says Carol Coletta, head of CEOs for Cities, a non-profit consortium of city leaders that commissioned the research. “Clearly, the next generation of Americans is looking for different kinds of lifestyles – walkable, art, culture, entertainment.”
In Cleveland, which lost 17 percent of its population, downtown added 1,300 college-educated people ages 25 to 34, up 49 percent.
“It tells us we’ve been on the right track,” says David Egner, president and CEO of Detroit’s Hudson-Webber Foundation. Three anchor institutions – Wayne State University, Henry Ford Health System, Detroit Medical Center – recently launched “15 by 15,” a campaign to bring 15,000 young, educated people to the downtown area by 2015.
Among the lures are cash incentives: a $25,000 forgivable loan to buy (need to stay at least five years) downtown or $3,500 on a two-year lease.
Preference for urban living among young adults – especially the well-educated – has increased sharply, data show:
• In 2000, young adults with a four-year degree were about 61 percent more likely to live in close-in urban neighborhoods than their less-educated counterparts. Now, they are about 94 percent more likely.
• In five metropolitan areas – Boston, Chicago, New York, San Francisco, Washington – about two-thirds of young adults who live in the city center have at least a four-year college degree. Less than a third of the nation’s 25- to 34-year-olds do.
“This is no longer anecdotal,” Coletta says. “Every metro area has good suburbs, but if you don’t have a strong downtown and close-in neighborhoods, then you’re not offering a choice that many of them are seeking. Offering that choice is a real competitive advantage for cities.”
© Copyright 2011 USA TODAY, a division of Gannett Co. Inc., Haya El Nasser.