A new report from real estate search engine Zillow found that 7.7 percent of Cambridge households earning $350,000 or more annually are headed by someone at least 55 years old. That means that the People?s Republic has the second-highest concentration of affluent baby boomers in the U.S., behind only the Washington, D.C., suburb of Arlington, Va.

The housing industry is being pulled in two directions Baby boomers who have the cash flow to invest in real estate are still the priority for many builders. However, the up and coming millennial homebuyers have a new set of requirements for their future homes. So builders are scrambling to create houses tailored toward the new generation.