Study Ranks Scott’s Addition Area as Number One Trending Millennial Neighborhood in Virginia
One of the fastest growing neighborhoods in Richmond is still at it, picking up yet another accolade. A new study has ranked the Scott’s Addition area and its surrounding ZIP code of 23230 as the number one Millennial Hotspot in Virginia.
Though the boundaries of the ZIP code encompass an area from N. Boulevard west to the Glenside Drive area, one need only look at the growth of Scott’s Addition to see where all the young folks are moving in–and it’s not the suburbs.
The Scott’s Addition neighborhood has added over 2,500 new apartment units over the past several years, and the number continues to grow with new projects underway or planned.
To identify where Millennials live and what are the next Millennial hotspots, online rental listing service Rent Cafe ranked zip codes in the 30 biggest U.S. cities by the highest increases in millennial population over a 5-year period, by the largest share of millennials, and by the highest number of total Millennials, using the most current U.S. Census population estimates. See the full report here.
For Virginia, the 23230 ZIP code was identified as the number one Millennial hotspot in Virginia, with a spike of Millennials of 43.4% over a five-year period. An Alexandria area ZIP in Northern Virginia took the second spot.
As of 2016, there were 2,032 Millennials living in the 23230 ZIP code (721 more than in 2011), and the total Millennial population represents 34% of the total population.