cooldcre: October 2011

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Hipsters Invade D.C.!

 

Hipsters Invade D.C.

New U.S. Census Bureau show the DC Metro region added about 7,000 new residents between the ages of 25 and 34 during each of the last three years. It’s a migration of hipsters that ranks sixth highest in the U.S. and claims most of the region’s growth during the past ten years. The 20’s to 30’s demographic now makes up a third of the population.

Why?

The Washington Post cites demographer data showing D.C. has a growing reputation as a cool place for young people to live. Demographer William Frey of the Brookings Institution analyzed census data comparing a two year sample between 2005 to 2007 with one from 2008 to 2010. His findings?

Young people headed for hip metro areas in this order:

Click to enlarge

“Young people are going to places that have a certain vibe,” Frey told WaPO. “If there’s a recession, they want to ride it out in a place like that. And Washington has the extra advantage of being a government town that’s not as hard-hit by rescission as others.” “It’s the economy and hipness.” Read the WaPO story

And where are all these über hip people living?

The 2010 Census data release shows:

District of Columbia

  1. The median age was 33.8.
  2. The average household size was 2.11 people per household.
  3. Among the District of Columbia's occupied housing units, 42.0 percent were owned, compared with 58.0 percent that were rented.

Many rent when they first come to the city, but rents have risen more than three and one half percent since this time last year and with low mortgage rates and tax incentives, first time homebuyers have made up a good share of the homebuying market the past 12 months.

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Comment balloon 0 commentsThe Isaacs Team llc • October 27 2011 04:27PM
Hipsters Invade D. C.!
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