Above: Charlotte, N.C. Photo credit: Flickr user James Willamor.

One of the biggest stories about the way we live in the past decade has been the migration of college-educated young adults to the heart of U.S. cities. It is a trend that has been gaining momentum for the past 30 years, but it has exploded since 2007, according to the American Community Survey from the U.S. Census Bureau.

Five Knight cities were among those experiencing big increases of 25 to 34-year-olds with at least a four-year college degree in their Central Business Districts (CBD) and the neighborhoods in the three-mile radius around the CBD. Philadelphia, for instance, experienced a 66 percent jump, placing it sixth in the nation behind New York, San Francisco, Boston, Chicago and D.C.  Related Links

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The increase in Miami’s young adult population in the heart of the city almost doubled, rising 89 percent. Miami’s percentage increase was the highest in the nation, according to the data, which covers the period from 2007 through 2011.

Charlotte (52 percent), the Twin Cities (32 percent) and San Jose (23 percent) also saw big increases.

Why does it matter?

When it comes to success factors for cities, talent is the first among equals.  There is nothing more important to a city’s success.  Nothing. The percentage of college graduates in any metropolitan area’s population explains—conservatively—58 percent of the metro’s success as measured by per capita income.

Because young people are the most mobile people in our society, they are the people a city is most likely to lose or gain from a move. And the more education people have, the more likely they are to move from one community to another. That explains the new focus mayors and economic development officials everywhere have on attracting and retaining young talent. It is the talent “in play,” and it’s the talent cities have to secure to succeed in a knowledge economy.

Because a solid majority of college-educated young adults say, first, they choose the city they want to live in, then they look for a job, leading-edge economic development thinking now embraces quality of place as a major driver of talent and thus, the economy. 

Only a few decades ago, economic development competition was based on which city could provide the cheapest cost of doing business. Now, it’s all about which cities can attract and keep the talent employers need. The key to that is providing the qualities young adults desire in a city. Based on the data, a vibrant city core with all of the attendant qualities—lively streets and gathering places, lots of choices on how to get around, opportunities for accidental meetings to occur—is an essential part of what young adults are seeking in cities.

Carol Coletta, vice president for community and national initiatives at Knight Foundation