More students are graduating from college in 2012 than ever before in the history of the United States. According to Forbes.com, Dallas/Fort Worth is the top metropolitan area for Americans to move to based on net population migration, particularly the “footloose, young” Americans.
With the highest amount of qualified young professionals Dallas has ever seen, many local companies are focusing on recruiting and retaining Millennials, or Generation Y workers. We are frequently asked by clients, “Where do young professionals want to work in Dallas?” Millennials, those born in the 1980s and 1990s, have a significant impact on workplace evolution and are leading technology trendsetters. As a result, young professionals’ preferences are weighing heavily on companies decisions.
23% of Dallas’ population is between 21-34 years old, according to The Neilson Company, but there are certain areas of Dallas with significantly higher concentrations of young professionals. Three neighborhoods in Dallas that have separated themselves from the rest of the city are Uptown/Downtown, The Shops at Legacy in Plano, and the Las Colinas Urban Center, which all have the “live, work, play” atmosphere which young professionals seek.
Not surprisingly, Uptown/Downtown leads the charge in Dallas with a very young population. 13,739 Uptown/Downtown residents are between 21-34 years old, which accounts for 48% of the area population. The neighborhood has endless entertainment options, an overwhelming amount of restaurants and bars, affordable apartments, and cultural opportunities which all contribute to making it the most desirable spot for young professionals. It is truly the leading “live, work, play” area in Dallas.
The Shops at Legacy:
The Shops at Legacy in Plano competes for the young professional talent pool with abundant entertainment and dining options. 21-34 year olds make up 51% of the area’s population, or 1,941 residents, who live within a one mile radius of the Shops at Legacy. The neighborhood will continue to grow in popularity for Millennials as new apartment projects complete construction in the coming years.
Las Colinas Urban Center:
Millennials make up 43% of Las Colinas Urban Center population, for a total of 3,042 residents. The Urban Center is poised to experience an increase in Gen Y population with the additional apartment units currently under construction. This area has traditionally lagged behind other neighborhoods when it comes to after work entertainment options, but the new DART rail stop in Las Colinas and planned Entertainment Center will increase the appeal of the area.
Companies located in Uptown/Downtown, The Shops at Legacy, and the Las Colinas Urban Center are in a strong position to recruit and retain the influx of young professionals, specifically college educated Generation Y workers, relocating to Dallas, due to their “live, work, play” environments. Regardless of your location, opportunities abound for companies to benefit from the energy the young professionals are bringing to Dallas.