Excerpt from the 3Q18 Witten Advisory: The chart above presents the growth in 20- to 34-year-olds across the 43 major markets. Although this data was just released recently, it actually covers the period from mid-2016 to mid-2017. The green columns show the magnitude of young adult gains in each market, with Dallas ranking #1 with an increase of 22,000 last year. Atlanta was second to Dallas in absolute terms, at just over 20,000.
The line notes the growth rate of 20-34s, where Charlotte saw the fastest growing base of young adults, near 2¼%. Dallas experienced the second fastest growth. Other winners were Austin, Seattle, Nashville – names you’d expect to be drawing lots of young people. The only market with a meaningful drop in young adult population was Chicago, as even greater New York City added to its base of young residents. While young people aren’t the only ones who lease apartments, this visual is a good proxy for apartment demand as well.