This NYC Neighborhood Is The City’s Top ‘Millennial Hotbed’Jul 02, 2019
NEW YORK CITY — Hoards of millennials flock the cobbled streets of one New York City neighborhood more than any other and it’s not Williamsburg. It’s not even in Brooklyn.
The Financial District in downtown Manhattan has become the top neighborhood for young New Yorkers in their 20s and 30s, according to a new PropertyClub report.
The real estate website crunched data from the U.S. Census Bureau and found 67 percent of Fidi locals— or two out of every three — is a millennial.
While Brooklyn hosts almost a third of the city’s 3 million millennials, and technically has the most millennials, its neighborhoods in Manhattan and Queens that boast the largest share per neighborhood.
The Garment District, Long Island City, Downtown Manhattan and Soho all made the top five list. And only Brooklyn neighborhood — Greenpoint — made the top 10.
- Financial District in Manhattan with a 67 percent share of millennials
- Garment District in Manhattan with a 64 percent share of millennials
- Long Island City in Queens with a 64 percent share of millennials
- Downtown in Manhattan with a 63 percent share of millennials
- Soho in Manhattan with a 52 percent share of millennials
- Murray Hill, Kips Bay in Manhattan with a 52 percent share of millennials
- Greenpoint in Brooklyn with a 51 percent share of millennials
- Hell’s Kitchen in Manhattan with a 51 percent share of millennials
- Astoria in Queens with a 49 percent share of millennials
- West Village in Manhattan with a 48 percent share of millennials
These top 10 neighborhoods share a few common traits; they’re bustling with restaurants and bars and apartments come with high price tags. In FiDi for example, studios cost about $3,000 a month and the median household income is about $150,000 a year.
This suggests these millennials are pursuing high-paying jobs and don’t mind spending “a significant chunk” of their paycheck on rent, analysts wrote.
“It’s perhaps the living goal of a generation that does not like boundaries and stereotypes and looks for inclusive live-work-play environments,” the report posits. “Like it or not, premium pricing comes with the package.”
Although Manhattan neighborhoods claim the strongest density of Millennials, Brooklyn and Queens neighborhoods still boast the largest numbers.
Williamsburg predictably took first place with 44,866 millennials, Corona in Queens came in second with 39,676 and Ridgewood came in third with 35,212.
- Williamsburg in Brooklyn with 44,866 millennials
- Corona in Queens with 39,676 millennials
- Ridgewood in Queens with 35,212 millennials
- Flatbush in Brooklyn with 34,212 millennials
- Sunset Park in Brooklyn with 33,982 millennials
- Broadway Triangle in Brooklyn with 33,257 millennials
- Bushwick in Brooklyn with 32,666 millennials
- Allerton and Williamsbridge in The Bronx with 32,114 millennials
- East New York and Cypress Hills in Brooklyn with 30,812 millennials
- Elmhurst in Queens with 30,381 millennials