SAN DIEGO—San Diego is a hotbed for biotech, defense and engineering companies andoffers an endless amount of activities Millennials enjoy doing, so they're willing topay the high cost of living here, JLL seniorresearch analyst Patrick Ashton tells GlobeSt.com. According toa recent report from the firm, ESRI and BLS, nearly one-third ofSan Diego's population is a Millennial, defined as ranging fromages 18 to 34. Of the nation's largest cities, San Diego has thesecond-biggest Millennial share with more than 1 million.
The report also states that San Diego young workingprofessionals are largely responsible for San Diego's populationgrowth of 7.5% from 2010 to 2017. During this time period, thecounty added 160,000 jobs, with 2017 having the lowestunemployment rate in this market in 10 years atbelow 4%. Many of the working Millennials are highly concentratedin the urban live/work/play neighborhoods; between the ages of 18and 34, working Millennials currently have a 40% share of Downtownresidents.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
