Downtown Los Angeles, Playa Vista and Hollywood are the top L.A. neighborhoods for millennial home hunters, according to a new survey by brokerage JLL.
Millennials – people who reached young adulthood around the turn of the millennium – outnumber baby boomers by close to 10 percent in those markets, compared to an average of just 4 percent across other areas, the survey shows.
“The chart supports the notion that millennials want to live where they work and play, and companies are looking to tap into this generation of growing influence,” Taylor Coyne, a JLL research analyst told GlobeSt.com.
The research supports developers’ long-held predictions that young renters will gravitate towards truly mixed-use areas with office and residential components, Coyne said.
“This information, in conjunction with understanding office trends and migration patterns within Los Angeles, could indicate where we need new housing,” she said. [GlobeSt] — Katherine Clarke