Jan 19, 2017, 5:13 PM
The generation’s growth rate in the market is the fastest among the 10 largest U.S. cities.
The rise of millennials across Philadelphia is a popular topic of conversation. Over the last decade, the city’s added more than 135,000 millennials. That growth rate’s the fastest among the 10 largest U.S. cities, and today 29% of the city’s population consists of millennials.
Regionally, Greater Philadelphia also saw large gains. Over the same decade, the region’s millennial population grew by 21%. But how does this stack up to other knowledge hubs? Not only did Philadelphia attract more millennials than San Francisco in the last decade, it attracted more than twice as many as Chicago, and maintained a larger 18-34-year-old population than Boston. All told, millennials now make up 23.4% of Greater Philadelphia.
Fortunately for tech companies, these aren’t just any
millennials—they’re smart ones. Education levels have jumped more in
Philadelphia than in the rest of the country’s 10 largest cities. Since 2010
alone, the share of city residents holding bachelor’s degrees or higher has
grown by 30%, with in-migration of highly educated professionals and strong
local retention of top talent being the biggest factors for growth.
The latest Campus Philly research indicates the region now retains up to two thirds of its graduates immediately following graduation.
Research and author: Clint Randall | Editor: Michael Cronin