America’s Hottest Urban Suburbs
The idea of the American suburbs reflecting a Fifties sensibility of white-picket fences, enclosed backyards, shopping malls and car culture — may be gone forever. But the suburbs themselves are not gone, or anywhere near the end of its role in American culture.
Instead, suburbs are taking a cue from cities. They’re reinventing themselves to appeal to the young people who prefer an urban, live/work/play environment, complete with walkable communities, green spaces and hip, vibrant gathering centers.
The CBRE Group reported that only 30 percent of Millennials live in cities. The other 70 percent are part of a migration from urban areas to the suburbs. Realtor.com found that, from 2010 to 2017, households in the suburbs grew 7.9 percent nationally. Compare this with a 6.6 percent growth in urban areas.
Why? Affordability mostly. But also, it’s still all about location, location, location. It’s those urban-type amenities that young people crave — light rail, hip bars and restaurants, bike and walking trails — even if that urban feel happens to be located in the suburbs.
Realtor.com found the ten hottest suburbs seem to be those that extend out from a metro/urban locale, making them authentic urban suburbs:
Denver, CO (Northeast Denver): The median home price in the neighborhood recently jumped 27 percent.
Dallas, TX (Wylie): The median home price is $352,000 — around $100,000 above the national median.
San Francisco, CA (Dublin): The number of households here grew 25.6 percent from 2010 to 2017.
Austin, TX (Daffan): This burb is experiencing a growth in new residents who are being priced out of Austin. New developments of single-family homes are increasing.
Tampa, FL (Palm River — Clair Mel): Considered safe and affordable, with cheap housing and a strong job market. Incidentally, Tampa is rated the #1 city where people are moving.
Orlando, FL (Vista East): As Orlando becomes more expensive, home seekers are flowing into Vista East, where home prices are slightly more affordable. Lots of construction on the horizon as well.
Miami, FL (Cutler Bay): Incorporated in 2006, Cutler Bay is the youngest city in Florida. Median price: $290,000.
San Jose, CA (Milpitas): The number of households here grew 15.5 percent from 2010 to 2017. Easy access to Silicon Valley and attractive to the tech workforce.
Nashville, TN (Murfreesboro): It’s the 13th fastest-growing city in the United States, according to the U.S. Census. Buyers can still find a home for under $250,000.
Raleigh, NC (Apex): Raleigh has become a Millennial mecca because of its Research Triangle Park, home to more than 200 technology companies, and Duke University. In 2015, Apex was voted the Best Place To Live by Money magazine.
Click here to read more about the rebirth of the suburbs.
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