Where Young College Graduates Are Moving

A recent CNBC.com article titled, “Where Young College Graduates Are Choosing to Live” by Claire Cain Miller discusses what cities and what areas of those cities are gaining college graduates.  In a statistic where the percent change in the number of college graduates Aged 25 to 34, from 2000 to 2012, Houston increased by 50% and Austin’s increased by 44% ranking first and fourth respectively. Clearly Texas cities are drawing young graduates in, other cities that performed well in the study are Nashville, Denver, Portland, and Washington. Graduates are looking for cities with a work-play balance and cool cultures. The article goes on to talk about where those same graduates are choosing to live within the city. “The number of college-educated people living within three miles of city centers has surged, up 37 percent since 2000.” This information will help real estate developers know where to build housing for these recent graduates regardless if they are going to buy or rent. The impact of these young people goes much further than where they live. The economic impact provided by this group is tremendous, in areas where college graduates chose to reside more jobs are popping up for waiters, carpenters, architects, and many other careers. The growth of graduates is feeding growth throughout the city. The real estate industry as a whole would benefit if their city is seen as attractive and could be in trouble if viewed otherwise. Real estate professionals and city planners need to take note of these trends and use this information to their advantage. If a city is seen as an attractive place city planners and real estate professionals need to work to keep it that way, and if a city is not attractive these people need to work together to build a more attractive city that will benefit everyone within the community. Overall, it is worth noting the impact that college graduates can have on the economy and culture of a city. Realizing this could make the difference in a successful career for a real estate professional or a successful city for a planner.

Check the full article out at CNBC.com