Patrick Ashton Ashton: “Compared to other California markets, San Diego is a relatively cheaper alternative with a high standard of living.”

SAN DIEGO—San Diego is a hotbed for biotech, defense and engineering companies and offers an endless amount of activities Millennials enjoy doing, so they’re willing to pay the high cost of living here, JLL senior research analyst Patrick Ashton tells According to a recent report from the firm, ESRI and BLS, nearly one-third of San Diego’s population is a Millennial, defined as ranging from ages 18 to 34. Of the nation’s largest cities, San Diego has the second-biggest Millennial share with more than 1 million.

The report also states that San Diego young working professionals are largely responsible for San Diego’s population growth of 7.5% from 2010 to 2017. During this time period, the county added 160,000 jobs, with 2017 having the lowest unemployment rate in this market in 10 years at below 4%. Many of the working Millennials are highly concentrated in the urban live/work/play neighborhoods; between the ages of 18 and 34, working Millennials currently have a 40% share of Downtown residents.


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Carrie Rossenfeld

Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on 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.

More from this author



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.