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Demographics in some of Los Angeles key neighborhoods are beginning to shuffle. A new report from JLL shows that millennials are taking over in neighborhoods like Santa Monica and Culver City, which had been primarily dominated by baby boomers. As millennials move into these market, baby boomers are exiting to lower cost areas, sometimes even out of the state.

“In general, a lot of these changing demographics are the result of two phenomenon- millennials fully entering the workforce and baby boomers retiring,” Matt Kaufman, research analyst at JLL, tells GlobeSt.com. “Yes, millennials are moving to these areas for their local amenities like food and shopping, but many see proximity to work as a key step in maintaining work-life balance. Most of the region’s office jobs are located within the urban areas of Los Angeles, and living within driving range of those opportunities has shown to be a major selling point for these neighborhoods.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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