Rentals

Millennials driving DC neighborhood growth

Three neighborhoods particularly favored by young professionals
  • According to Jones Lang LaSalle research, three DC neighborhoods are favored by millennials: NoMA, Southeast, Shaw.
  • Residential development is “drastically outpacing” commercial in some newly developed areas.
  • NoMa by far leads the pack, with millennial growth of more than 1,000 percent between 2010 and 2014.

In a recent analysis by Jones Lang LaSalle’s (JLL) research team, the top three DC neighborhoods that are most attractive to millennials stood out among all residential growth. Millennials, for purposes of this report, are those ages 25 to 34. During the years studied, the population of the 10 neighborhoods located along the edges of DC’s downtown core increased 8.4 percent, more than the 4.6 percent increase in the growth of DC proper. According to the research, DC’s emerging neighborhoods are where the millennials are going. NoMa by far leads the pack, with millennial growth of more than 1,000 percent. The Southeast and Shaw neighborhoods round out the top three. “We look at how development patterns are playing into office markets,” Scott Homa, director of research for JLL’s Mid-Atlantic region, said. “When core retail and residential develops first, then employees are drawn into those neighborhoods and office development follows downstream.” In th...