NEW YORK–As Millennials settle into their 20s and 30s they are in search of affordable, yet established tech hubs to which to relocate. Several areas of the US stand to benefit from this generation's search for home, according to new research from TH Real Estate, an affiliate of Nuveen (the investment manager of TIAA). At the same time, commercial real estate investment trends will be affected as well, depending on the lifestyle choices that each area offers. To give one example, many of the areas that TH Real Estate predicts will attract more Millennials are relatively affordable with higher home ownership rates. “Multifamily opportunities, particularly among higher-end luxury properties will be more limited,” it said in its report. There will be exceptions of course, such as in Atlanta, Austin and Dallas, where Millennials are more likely to rent.

So what are Millennials in search of, generally? Affordable mid-sized tech hub cities, select city-center neighborhoods and close-in big city suburbs that offer short commutes and urban amenities, according to TH Real Estate.

TH Real Estate groups these cities into three categories.

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Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.