The sheer numbers make millennials — those born between 1981 and 1997 — all but impossible to ignore, explains a report from The Real Deal.

Currently 75.4 million strong, millennials surpassed the Baby Boomer generation last year, according to the Pew Research Center. One in five New Yorkers is a millennial, according to data from the U.S. Census Bureau. And their ranks are growing, thanks to an influx of millennial immigrants to the United States.

Their collective spending power is equally enormous. Millennials spend $600 billion a year — an amount expected to balloon to $1.4 trillion by 2020, according to the consulting firm Accenture.

And in NYC’s real estate industry, there’s a growing recognition that millennials are impacting the market.

Millennials are not making decisions about where they’re going to live in four years. They’re making decisions about where they’re going to live in the next 12 months

With the barrier of entry to buying residential real estate much higher now than it was before the financial crisis in 2008, many New Yorkers (particularly younger ones) have been forced to stay in the rental game. In fact, just 39 percent of millennials nationwide own homes, according to Goldman Sachs — down from 47.5 percent in 2007.

This fact has not been lost on developers who have geared much of their NYC rental product to millennials — whether it’s extra bike storage (one in five millennials bikes at least once a week, according to the Urban Land Institute), USB charging ports in apartments (two-thirds of millennials don’t have landlines, according to the Centers for Disease Control) or co-working space (nearly one-third of millennials are self-employed, according to a 2015 survey by online stock brokerage TD Ameritrade).

Co-working spaces in a residential building are — by far — the most popular amenity among millennials.

Contrary to their reputation, millennials aren’t only renting. NYC’s strong finance, legal and TAMI (technology, advertising, media and information services) sectors have spawned a class of millennial homebuyers.

In fact, more than 100,000 NYC millennials had jobs in law and finance in 2014, according to a recent report from city Comptroller Scott Stringer. And according to real estate giant Zillow, 2.8 percent of NYC millennials earn more than $350,000 — placing them in the top 1 percent of earners here.

Nationwide, the 35-and-under set is the largest cohort of homebuyers, according to the National Association of Realtors.

Yet millennials, many of whom entered the workforce during and right after the Great Recession, aren’t all willing (or able) to plunk down millions of dollars for a Manhattan apartment. Many of those millennials are opening up new areas of the city for developers with their willingness to move deeper into the boroughs — as long as there are public transportation and amenities nearby.

In Crown Heights, Pinnacle Group seems to be going after this group of buyers at 382 Eastern Parkway, where one-bedrooms start in the mid-$500,000s. An April launch party had a steam-punk theme, complete with a bourbon tasting and vaudeville performers.

Millennials aren’t afraid to move to new neighborhoods, particularly if they’re priced out elsewhere. They take the opportunity in places that they think are going to go up in value. The initial investment is a lot less and they can afford it