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Younger college-educated Americans moving downtown

April 7, 2011 - A new report shows that when Americans call up a moving company, many of them are directing them to new homes downtown.

According to CEOs for Cities, younger consumers with four-year college degrees are now 94 percent more likely to want to live in the centers of major urban areas around the country. That percentage was up from 61 percent when a similar survey was taken in 2000, said the report, showing the growing preference Americans have had for moving to centers for finance, employment and entertainment.

"The market for America's downtowns and close-in neighborhoods just keeps getting stronger," said Carol Coletta, president of CEOs for Cities. "Even Cleveland and Detroit, which for years have watched their populations dwindle, are seeing increases in the number of well-educated young adults in their close-in neighborhoods."

Neighborhoods within three miles of cities' business districts have seen their populations of young, college educated residents grow at a pace twice that of outlying neighborhoods.

Those buyers may want to act quicker if they have moving plans. A recent report from Fortune said dwindling home supply and attractive prices means families ought to consider hiring a moving service and purchasing a new home sooner rather than later.
 

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