Forbes contributor Joel Kotkin says the suburbs aren't going out of style anytime soon—in fact, they're gaining popularity. The aging millennial population and influx of immigration are causing these neighborhoods to gain more residents who are looking for child-friendly, affordable, lower-density living.
The biggest growth is occurring in exurban areas, or the "suburbiest" places on the urban outskirts, and suburban communities are actually growing more rapidly than denser, inner ring areas.
Potentially, the greatest source of exurban and peripheral revival lies with the maturation of the millennial generation. Millennials — born between 1982 and 2002 — are widely portrayed as dedicated city dwellers. That a cohort of young educated, affluent people should gravitate to urban living is nothing new.The roughly 20% who, according to an analysis by demographer Wendell Cox, live in urban cores may be brighter, and certainly more loquacious, than their smaller town counterparts, dominating media coverage of millennials. But the vast majority of millennials live elsewhere — and roughly 90% of communities’ population growth that can be attributed to millennials since 2000 has taken place outside of the urban core.