From the Westchester market report: Everyone wants a piece of the millennial pie, and Westchester County is no exception.
The coveted demographic of consumers — those born between 1981 and 1997 — is 75.4 million strong and growing, with reports estimating that the generation’s spending will hit $1.4 trillion annually by 2020. By all appearances, suburban Westchester — dubbed “hipsturbia” by the New York Times for its growing attractiveness to young hipster urbanites — is in a good position to cash in.
Some millennials in search of affordable rents within commuting distance to Manhattan have exhausted their options to the west, east and south and are now looking north — past the Bronx, to Westchester County. And developers have taken note. [more]