Even as some companies go to the big cities looking for young talent, others are headed to denser suburbs to find millennials with families who are attracted to suburbia:
Fresh college graduates might be attracted to downtown bars and carless commutes, but these days, for older millennials starting families and taking out mortgages, a job in the suburbs has its own appeal. “What people find is that the city offers a high quality of life at the income extremes,” said Lamphere, who is chief executive of Van Vlissingen & Co., a real-estate developer based in the Chicago suburb of Lincolnshire, Ill. “The city is a difficult place for the average working family.”
Many employers, hoping to attract millennials as they age, are trying to marry the best of urban and suburban life, choosing sites near public transit and walkable suburban main streets. “What’s desired downtown is being transferred to suburban environments to attract a suburban workforce,” said Scott Marshall, an executive managing director for investor leasing at CBRE Group…
None of this means the suburbs will supplant central cities as job hubs. After all, jobs traditionally based in cities-jobs in professional industries as well as the service jobs that support them-are growing faster than those typically based outside of them, according to Jed Kolko, chief economist at Indeed.
At the same time, Americans are more likely to live in the suburbs today than they were in 2000, and even the young, affluent ones drawn to cities tend to move once their kids reach school age, Kolko’s research shows. Many of those workers will suffer long commutes into the city center. Others will opt for jobs closer to their suburban homes.
Which of these two patterns is more true: (1) employers chase locations in a cyclical nature with more moving to the suburbs after World War II and then returning to the city or some cities in more recent years as certain urban locations became trendy and/or desirable or (2) employers since World War II have regularly gone back and forth between cities and suburbs depending on their employee needs and changes within metropolitan regions. Since I do not study this exact topic, I do not know which explanation the data matches (or if there is even a third option). Yet, certain interested parties – the media, city and suburban leaders, and companies often like to push a particular narrative to help their side look better.
Indeed, this article suggests a third option: employers want to find millennials who want both the suburban life – nice, safe, quiet communities – and the urban life – exciting cultural scene. Certain suburbs do offer this kind of lifestyle and some academics have argued this is the way the suburbs are going: even as some will still be interested in spreading the edges of suburbia further and further out, at least a few suburbs will become denser and influential small cities. I’m not sure this is entirely tied to millennials as such locations could appeal to older suburbanites who want a more walkable area and may not require single-family homes.
In other words, the jury is still out on this as a possible trend.