The majority of people living in Midtown Boston condos are college graduates, white-collar workers, single, and with a median age of 36 according to aggregated data for the 02111 zip code. There are obvious reasons young professionals move downtown high rise luxury condos, like being closer to bars, restaurants, and other nightlife.
Between 2010 and 2018, several new high rise luxury condos were built in the Boston Midtown area. However, there are currently more luxury high rise condos approved and in the pipeline. Although that might seem like a huge increase, the new developments are helping clean up and revitalize the once rundown area.
Live, Work, Play
Moving downtown Boston, which once was an economical decision, has become a cultural one for this generation. Millenials, people ranging from 25 to 34, want to participate within their communities and make their time count—and living in a mixed-use neighborhood is the best way to do that. A Nielsen report from 2014 discovered 62 percent of millennials want to live in an area where they can live, work, and play. And, although buying a condo in downtown Boston might cost more than a house in Winchester i, MA it can be a better value thanks to environmentally-friendly designs and appliances, a decreased reliance on cars, and proximity to, well, everything.
If you’re thinking about packing up and finding a Boston high rise luxury condo or anything in between—don’t wait—vacancy rates are at an all-time low. Give the Downtown real estate experts at Ford Realty a call a and get your condo search started today.