Will young professionals leave downtown New Orleans for the suburbs?

by • October 5, 2015 • Multi Family, NewsComments (0)2946

Photo via NOLA Aerial Drone's Facebook Page

Photo via NOLA Aerial Drone’s Facebook Page

We don’t think so. But high costs and low supply, coupled with a desire for a more safe environment, have an impact?

Our friends at nola.com have some more thoughts on it, backed up by some data.

The question posed by nola.com is whether young professionals want to move to the suburbs as they begin to start families and, even if they want to stay in the historic core of the city, will they be able to given the shortage of supply and increased rents.

Marketplace looked at the trends using Census data and other info.  They found that from 2004 to 2014, the homeownership rate dropped from 43% to 35% for for people 35 and younger.

Check out nola.com for more coverage and analysis on the issues.

 

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