WASHINGTON — Neighbors told a Wards 7 and 8 council meeting on Tuesday that new U.S. Census data show that there are 3,408 more millennials moving into District of Columbia neighborhoods than moving out. Those counting millennials could be big business for the housing market, which in turn will boost the District’s overall growth projections for the next five years.
“This is a huge development for us,” Washington Association of Realtors vice president Lauren Bell said.
At the same time, Georgetown-area developer Springtree Realty Services President Rosella Lee said in an interview Tuesday that the U.S. Census study “tells you there’s going to be more people moving into the District of Columbia than leaving.”
That shift in migration data for America’s capital city will most likely not be the biggest population “rush” on the East Coast, said David Goldberg, principal at consultant SSA Economics. Goldberg said he estimates the District’s population could rise from 823,000 to 1.2 million, a 30 percent surge in just five years. In August, SSA projected the District’s population would more than double by 2040.