We read articles every day about why Millennials are different from other generations. Who are these people? Most all Demographers lump them in the 18-34 age group and have now surpassed the Baby Boomers (ages 51-69) in numbers.
Austin is attracting large numbers of Millennials moving here through job creation from companies like Google, Apple, Oracle, National Instruments and so many more! The University of Texas and Austin Community College attracts Millennials and UT Dell Med is opening with its first set of 50 students! Austin is diversified with so many sectors needing employees. When you drive down virtually any street in Austin you see “Now Hiring” signs.
Austin is laid back and loves its slogan “Keep Austin Weird!”. It’s one of the reasons Millennials are attracted to the easy going lifestyle in Austin.
The influx of Millennials is changing the landscape of Austin in order to accommodate their life styles. They eat out more (10% more than the general population) because they are living in smaller spaces and don’t have time or the inclination to cook (we have so many restaurants and new ones popping up every day). Their work environment is extremely important to them and they enjoy interacting with their co-workers, spending a lot of after work hours together. The work place is changing and lines are blurring between living, working and playing.
Downtown living or suburban pockets centered close to work is popular among the Millennials. The Domain has fast become their “go to” place because it offers them the after work atmosphere they are seeking: causal, outdoor dining, bars, night clubs and places to gather. Only 20 % of young people 18-29 years are married compared to 59% fifty years ago. Many are into the dating scene or mixing in large groups nightly and on week-ends.
There is rapid expansion with a $16 million dollar renovation at the Hill Country Galleria in Bee Caves to provide more public spaces for gatherings with outdoor entertainment. The Oasis offers Millennials outdoor music, and the sight and sounds of “Lake Fun” entertainment. Even the Arboretum is undergoing a facelift with a new outdoor design of seating encouraging places to gather any time of the day. Austin continues to morph itself and we are enjoying the modifications. According to the experts this trend is just gaining in momentum so stay tuned!!
As always, “all about Austin” information is brought to you as a courtesy by Dorie Dillard of Coldwell Banker United; your NW Austin Real Estate Consultant.
I look forward to serving your NW Austin real estate needs and would be honored to earn your trust and business. I am a recognized professional in NW Austin real estate. I’m a good listener and act, not react to your needs. I have systems in place and references at hand. I offer you hands on Professional guidance for all your real estate needs.
Let’s schedule a time to see if we are a good match. Let me put my expertise to work for you...reach out to me at 512-346-1799 or email at dillard@reloaustin.com.
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