Younger talent clusters in Philadelphia whereas maturing talent seeks greener (suburban) pastures
A zip code-level analysis of age cohorts throughout the region reveals stark differences in the concentration of younger and more mature talent.
August 21, 2019
- A zip code-level analysis of age cohorts throughout the region reveals stark differences in the concentration of younger and more mature talent. This isn’t just a local phenomenon; following national trends, highly educated millennials (25-34 year olds in this analysis) tend to cluster in increasingly urban locations, with West Chester being the only zip code to crack the top ten outside city limits locally. Conversely, slightly older highly educated persons (ages 35-44) are mostly located in the suburbs with Downingtown leading the way. Queen Village (19147) is the only regional zip code to crack the top 10 for this age cohort .
- These concentrations suggest that employers looking to attract younger talent but unwilling to pay CBD rents will want to look at suburban options close to Manayunk/Roxborough (such as Conshohocken or Plymouth Meeting) and West Chester. For more mature talent, the data shows that they favor towns with SEPTA regional rail stations along major road corridors.
- Younger talent is more concentrated than older talent: 25 percent of the region’s 260,000 highly educated 25-34 year olds reside in the top ten zip codes shown above. However, the 35-44 year old population with advanced degrees is more broadly distributed throughout the region: only 9 percent of the 440,000 persons in this cohort live within the top ten zip codes above. The takeaway: employers seeking younger talent need to focus primarily on the CBD whereas those seeking more mature talent at a later stage in their careers have greater flexibility across the western and northern PA suburbs.
Source: JLL Research, U.S. Census Bureau