The Dallas Arts District is a bona fide magnet for millennials. A new study from apartment search website RentCafé ranks the Arts District as the top ZIP code in Texas for the share of millennial residents.
U.S. Census Bureau data gathered by RentCafé indicates 65 percent of the residents in the Arts District’s 75201 ZIP code, or about 8,800 people, were millennials in 2016. That makes it the No. 1 millennial hot spot in Texas and the No. 8 millennial hot spot in the U.S.
(While the study specifically mentions the Arts District neighborhood, 75201 covers other areas of downtown and Victory Park.)
Kyle Baugh, a Realtor with Briggs Freeman Sotheby’s International Realty, says the Arts District — a walkable area sandwiched between Uptown Dallas and downtown Dallas that offers a mix of apartments and condos — appeals to the live-work-play vibe coveted by many young Dallasites. The 2012 opening of Klyde Warren Park contributed to that vibe, he says.
“The Dallas Arts District offers millennials a diverse community of like-minded artists and artisans who embrace and even thrive in urban living,” says Kenneth Cox, broker-owner of DFW Urban Realty. “I would even go a step further and say the Dallas Arts District is not only one of the top ZIP codes in the country for millennials to live in, but also that Dallas is one of the top millennial cities to live in.”
The RentCafé study bears that out, as downtown Dallas’ 75202 ZIP code comes in at No. 15 on the list of U.S. strongholds for millennials, with a millennial share of 61 percent, or 1,400 residents.
Dallas was the only Texas city with at least two ZIP codes in the top 20. Other Texas ZIP codes that made the list are:
- 77054 in Houston. The neighborhood around the Astrodome has a 63 percent share of millennials, or about 14,400 residents. National rank: No. 12.
- 78751 in Austin. The Hyde Park neighborhood has a 61 percent share of millennials, or about 8,900 residents. National rank: No. 16.
RentCafé ranked ZIP codes in the 30 biggest U.S. cities by the biggest increases in millennial population over a five-year period, the largest share of millennials, and the largest total number of millennials. The study excluded ZIP codes with fewer than 1,000 millennial residents, as well as ZIP codes overlapping with college campuses, military bases, and prisons.
In terms of the fastest-growing ZIP codes for young adults, 78756 in Austin was the only Texas ZIP code in the top 20.
The share of millennials in 78756, — which includes the Brentwood and Rosedale neighborhoods — jumped 34.3 percent from 2011 to 2016, according to RentCafé. In 2016, it was home to about 4,000 millennials.
John Crowe, a broker Realtor with Austin’s Juice Real Estate, says the Burnet Road corridor in 78756 is gaining popularity among millennials due, in part, to its abundance of “charming” updated homes dating back to the 1940s. The Burnet corridor also has seen explosive growth in the number of apartments, restaurants, and bars.
Crowe says that these days in the 78756 ZIP code, a resident “can jump on a Bird scooter, take a short walk or bike to meet friends and family on the deck of the burger-and-beer joint, spend evenings enjoying the high-end sushi or Mexican restaurants, or settle in at the various food trailers and local coffee shops.”
“A gourmet grocery store, plus-sized yards, great schools, green spaces like Ramsey Park, and a solid local library serve as a foundation for young residents, many of whom, live and work in the area and plan to stay as long as the original owners of those 1940s homes did,” he adds.