16 Worcester Business Journal | October 30, 2023 | wbjournal.com
BY EMILY MICUCCI
Special to WBJ
Y
outh and magnetism seem like two great
qualities to have in a city, but Worces-
ter's growing young population and stiff
competition for real estate create problems
city leaders must solve, in order for them to
keep attracting people to the city.
e Worcester Regional Research Bureau tracks
these and other city data points in its annual Worcester
Almanac report, as well as other studies highlighting
important demographic shis in New England's sec-
ond-largest city.
Rising to the top in the 2023 Worcester Almanac
are the increasing number of young people who call
Worcester home, and the dearth of available housing.
Its 2020 Census population of 206,518 is the highest
it's ever been, surpassing its previous peak in 1950, and
51% of Worcester residents are under 35 years old.
Meanwhile, the rental vacancy rate is around 3% –
below the 5% to 10% rate considered healthy for the
Younger
and
richer
e rise in Worcester's population
and household income levels
are creating opportunities and
challenges for those seeking to
keep the momentum going
Worcester: Just the Facts
Worcester: Just the Facts is a joint project be-
tween the Worcester Regional Research Bureau
and Worcester Business Journal. For this project,
WRRB provided information in advance from
its annual Worcester Almanac, an important
tool sponsored by UniBank for public officials,
business leadership, and members of the public
covering a wide array of public policy issues in
Central Massachusetts. To read the 2023 alma-
nac, which publishes Oct. 30, visit wrrb.org. All
the information for the charts in this section was
originally researched by WRRB.
The Grid District mixed-use development next to
Worcester Common started bringing its planned 500+
apartments online more than five years ago.
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WO R C ES T E R : J U S T T H E FAC T S
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