By Joan Mooney
Businesses across America are watching the mil- lennial market closely. They should: The 87 million millennials eclipse even the 76 million baby boomers in their numbers. Because they came of age during the Great Recession and many are saddled with enormous college debt,
they have not yet made their full market force known.
But millennials have already exerted their influence in
many ways. Their transportation preferences could point
to a long-term shift in the way Americans commute to
work, do errands and socialize. And their mode of travel
is already influencing their choice of where to live.
The stereotype is that millennials are living in their parents’ basement because they’re still paying off college loans
and can’t get a professional job. They travel by bus and
bicycle and on foot because they can’t afford a car and
don’t like to drive anyway.
Of course it’s not so simple. A new Community and
Transportation Preferences Survey covering the 50 larg-
est metro areas teases out the nuances of travel and
ransportation and housing
s will shape the nation
housing preferences of millennials and other groups.
The survey, by the NATIONAL ASSOCIATION OF
REALTORS® (NAR) and Portland State University,
sampled 3,000 adults.
Use transit more than other groups
The study found that millennials (defined here as those
born after 1980) use transit much more than older groups.
They are “much more likely than other groups to place
a high priority on providing convenient alternatives to
driving, expanding public transportation and developing
communities where more people don’t have to drive long
distances,” the study says.
Millennials are much more likely to have used transit in
the past 30 days than any other group. Forty percent did
so, compared with just 28 percent for the next highest
group, Generation X (born between 1965 and 1980).
But it’s their least favorite way of getting around, with
only 44 percent saying they like transit.
It turns out millennials do like driving — 71 percent
said so — but they like it less than any other group.
Photos courtesy of Visit Savannah