When the planet’s largest online marketplace goes shopping, you know it’s a big deal. Amazon is scouring the country for the superlative spot to build its second headquarters—and 200-plus locations are courting the Seattle-based company in hopes of snagging the honors. With estimates that Amazon’s second hub will create upwards of 50,000 new high-paying jobs, who wouldn’t want Jeff Bezos and crew to tag their town as the “it” locale?
While several factors will help that special city clinch the win, two others are sure to help seal the deal, according to Pro Teck Valuation Services in its Home Value Forecast report released Thursday.
The company’s report notes that Moody’s recently culled five categories—business environment, human capital, cost, quality of life, and transportation—to come up with the top 10 cities certain to nab the H2Q honors.
Moody’s anticipates one of these 10 cities (listed in order) will have what it takes to grab this brass ring:
- Austin, Texas
- Atlanta, Georgia
- Philadelphia, Pennsylvania
- Rochester, New York
- Pittsburgh, Pennsylvania
- New York, New York
- Miami, Florida
- Portland, Oregon
- Boston, Massachusetts
- Salt Lake City, Utah
According to Pro Teck, home prices and forecasted appreciation in the five top-rated metros will help set the victor apart from the pack.
Of the top five, Austin and Atlanta are the two hottest markets, with the CBSA level average home prices at $310,000 and $200,000, respectively, Pro Teck says. Both markets have bounced back well since the housing crisis, showing significant appreciation since 2011, it notes.
Pittsburgh, Philadelphia, and Rochester have all posted only modest growth since the crisis, Pro Teck says. While not as fiery as Austin and Atlanta, 50K new jobs would surely stimulate home appreciation in those metros.
Besides their robust real estate markets, Austin and Atlanta also boast an educated workforce and affordable housing, making them likely picks, Pro Teck says. Both have traffic and public transit problems, it adds, but those issues plague most places these days.
In light of all the evidence, which city would Pro Teck choose? Atlanta, the company proclaims. (We’re sure most Atlantans will think that’s pretty peachy.)
To view the full report, click here.