Depending on who you ask, the definition of a Millennial can vary based on sources or individual opinions. Is it a 26 year old who is active on social media and hangs out at the local gastropub? Is it the 33 year old junior executive who doesn’t know how to use a fax machine, but loves taking office selfies? Who Millennials ACTUALLY are depends on who you ask, but one thing’s for sure…they definitely are a hot topic in commercial real estate and beyond.
Opinions aside, we have statistically concluded that a Millennial was born between 1982 and 2000 – and that is our final answer! This conclusion is based on personal observation, countless hours of reading about Millennials and the backing of statistical age groupings* provided by the U.S. Census. These stats make the two of us officially part of this category and we could not be prouder.
So…let us tell you a little bit more about our population.
Currently, with the population growth, multiple research firms have supported that Millennials are the largest living generation in the U.S. squeaking out the long-reigning Baby Boomers. With an estimated 84.33 million Millennials in the U.S., we account for just over 25% of the population. With that said, our reign will be short lived. According to Pew Research, within 20 years the nameless generation (15 years old and younger) will become the largest generation.
Millennials in Florida vs. Millennials in the United States
Florida’s Millennial population mirrors the overall Millennial population in the U.S. with five million Millennials in the state of Florida, or 24% of the state’s population. The Orlando-Kissimmee-Sanford MSA (where Kat lives!) is in the middle of the pack with a concentration of 25.5% Millennials. On the upper end of the spectrum, the Tampa-St. Pete MSA (where Michelle lives!) is second in the state at a concentration of 27.1%.
Next Time on the M.O.M. Blog….
Next time…We’ll debunk Millennial education myths
“Millennials are not the brightest crayons in the box.”
Actually, we’re the most educated generation in history. Until next time….
From the Writers
Michelle – I’ve lived in Tampa for 15 years and watched the city grow and adapt to the changing demographics. Neighborhoods such as Hyde Park and Seminole Heights have adjusted to fit the Millennial lifestyle. With innovative minds like Jeff Vinik, Downtown Tampa will be next.
Kathleen – Having relocated here myself, it is obvious as to why, Orlando has a large number of Millennials located within the MSA. With job growth and a thriving and growing urban core it is no surprise that most Millennials, like me, have moved here, and plan to stay here long term as the city lifestyle and professional wants and needs.
*Age groupings of 16/18 to 24 and 25 to 34
**Population comparisons are MSAs 1 million or more residents