'Tis the season for new neighbors, moving trucks and discarded couches left to scorch on the sidewalk under the summer sun. The annual ebb and flow of tenants has corresponded with a boom in new digs across the four-city, 13-county Richmond Metropolitan Statistical Area in recent years.
What’s driving the growth? A low cost of living and a steady influx of (you guessed it) millennials, says Max Peker, a market analyst for CoStar Group, a Washington, D.C.-based commercial real estate data firm that recently opened an office in Richmond. Here is a closer look at the numbers.
*Data provided by CoStar Group
