NEW YORK—Young and educated people are increasingly opting for life in the city instead of suburbia, according to a report from Downtown Alliance.
Between 2000 and 2010, the number of college-educated people within a half hour commute of Lower Manhattan increased 32 percent from 545,000 to 717,000.
The majority of these movers—101,000—are between 25 and 34 years old.
“These profound demographic changes show that high-value knowledge workers are opting out of the suburban lifestyle, instead flocking to communities in Manhattan, Brooklyn, and New Jersey’s Hudson River waterfront cities,” said Elizabeth Berger, president of the Downtown Alliance for New York, in a statement.
For example, Adam Mietus, a risk officer at Morgan Stanley, moved to Hoboken, N.J., in 2007 from Norwalk, Conn.
“The move changed my commute from two hours to about 30 minutes,” he told the New York Times. “My wife felt like a single parent before the move, and I was barely seeing my 3-year-old daughter during the week.”
Prime neighborhoods for movers include Red Hook, Brooklyn; the Lower East Side; and the Newport section of Jersey City.
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