Atlanta and Buckhead can expect a younger and more diverse population within the next 30 years, according to the Atlanta Regional Commission.
The ARC and Livable Buckhead, a nonprofit dedicated to sustainability, reviewed the results of a Buckhead demographics study at an Oct. 29 meeting at the Atlanta History Center.
ARC demographers report that Buckhead’s future will depend largely on the decisions made by “millennials,” Generation X and Generation Y residents. Generation X is made up of people who were between the ages of 29 and 45 in 2010 and Generation Y is made up of people who were between the ages of 10 and 29 in 2010, according to the ARC.
Paul Oliva, with River City Realty, attended the presentation, and said the generational shift in Buckhead’s population was the most surprising for him.
“It’s helpful to know how the traffic is moving in and out in Buckhead, the education level and the ages of people residing here,” Oliva said.
According to ARC, the “millennials” are less likely to buy and more likely to rent. They are also more likely to live in dense, urban areas. Buckhead in 2013 had more 25-to-34-year-old residents than any other metro Atlanta community, ARC found.
“Gen X and Gen Y are key to Atlanta’s growth, and they really like Atlanta,” the report says.
Buckhead’s total population is expected to increase by 44 percent by 2040, adding about 114,000 residents.
Over time, Atlanta will become a more diverse place, according to the ARC report. In 2010, the population of the Atlanta metro area was about 50 percent white, 32 percent black and 11 percent Hispanic. By 2040, it will be about 40 percent white, 30 percent black and 22 percent Hispanic.
Gordon Certain, president of the North Buckhead Civic Association, said the numbers surprised him.
“I think it means an influx from other parts of the country down here, which is good,” Certain said.
Some other findings of the report:
• 85,870 people who work in Buckhead live outside of Buckhead.
• 26,664 people who live in Buckhead work outside of Buckhead.
• Buckhead added 7,510 jobs between 2010 and 2012. It will add another 135,272 jobs by 2040.
• Buckhead’s median household income is $96,734. Its average household income is $137,900. Its per capita income is $71,467.
Atlanta Public Schools serves Buckhead, which has a 52 percent graduation rate. Approximately 75 percent of residents have at least a bachelor’s degree.