JLL, a real estate research and brokerage firm, has a breakdown showing where exactly these millennials are moving once they arrive. The neighborhoods shouldn’t be surprising to anyone familiar with the District: Shaw, H Street, NoMa, etc. These are the neighborhoods teeming with cranes, new luxury condos and fancy restaurants. But these numbers of how many millennials live in each neighborhood show just which ones have seen the biggest millennial residential boom.
NoMa and Southeast, or the Navy Yard neighborhood, have had the biggest gains in young residents; these very recent condo-heavy neighborhoods also had the fewest millennial dwellers in 2010.
The number of people living in NoMa today seems rather low; JLL’s research department says that’s because NoMa’s population grew so much bigger so fast, census data and maps may not have picked up all of the residential inflow into these new developments. So take that figure with a grain of salt, but note that the proportional growth has been astronomical.
Logan Circle, which this shows as distinct from the U Street corridor, has had a slight net loss of residents between the ages of 25 and 34. This may, according to JLL, have to do with younger residents being priced out and a slightly older demographic moving in.
Steve Spartin, a senior vice president at JLL, said that office buildings and commercial developments are following these younger residents — residents who want a walkable lifestyle, in which they have an easy work commute and entertainment near their homes. Spartin pointed to newly filled office buildings in the Shaw neighborhood, something he said would have been unheard of 10 years ago.
“You see offices in the West End and downtown moving into more emerging neighborhoods,” Spartin said, adding that some suburban offices are moving into the District to be closer to where their workforce lives. “It’s changed the way developers are looking at parcels of land and development in the District.”