Report: Urban area population growth slows

Older Millennials are looking to buy homes and move away to more affordable suburbs and exurbs.

May 20, 2016 |
Report: Urban area population growth slows

Austin, Texas. The population growth of the city has slowed, but a few of its suburbs, including Pflugerville and Georgetown, have experience booms. Photo: Stuart Seeger/Creative Commons

Looks like another generation of Americans finds the suburban life appealing. Recently released Census Bureau estimates found that urban areas accounted for only 20% of the country’s population growth between July 2014 and July 2015. The mark is 1% lower than last year and 6.7% lower than in 2011.

According to Fortune, the older Millennials are now looking to buy their first houses, and suburban real estate is more affordable than urban properties.

Some of the trendier cities for younger adults, including New York City, Boston, and Austin, Texas, have experience slower growth. A few Rust Belt cities, including Chicago, Cleveland and Pittsburgh, lost more residents than they gained last year.

Some suburbs in the west and south experienced a significant population increase. Georgetown, Texas, a suburb of Austin, saw the biggest boom, rising 7.8% to 63,716. Other popular cities included Frisco (6.3 to 154,407), a city near Dallas; Dublin (5.5% to 57,721), which is just outside of the Bay Area; and Broomfield (5.2% to 65,065), located north of Denver.

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