According to a recent realtor.com report, suburbia is where the housing market is hottest right now. With the COVID-19 pandemic creating a push for buyers to seek more space and lower home price tags, Americans are now fleeing dense pricey cities in droves and heading to more affordable suburbs of the nation.
The report specifically revealed which suburbs in the nation are among the top for homebuyers seeking to get the most bang for their buck, nabbing the biggest homes for the smallest price tags. The exact criteria for the list covered the top 10 biggest metro areas in the United States (those within a 25-mile commute of the downtowns), then ranked them according to an analysis of the median listing prices of single-family homes with at least 1,800 square feet. The suburb with the lowest cost per square foot “won”.
Chief Economist for realtor.com, Danielle Hale, commented on this growing trend of Americans relocating to suburbia, and what exactly is fueling it: “Homebuyers these days are looking for more space—for right now, in the midst of a pandemic when we're spending an incredible amount of time at home, but also in the post-pandemic future, when life returns to normal. They are also mindful of expenses given a still-healing economy and elevated unemployment rate, so affordability is top of mind.”
Coming out on top of the list at number 1was Sicklerville, NJ, located right outside of Philadelphia. The number 2 spot was taken by Cedar Hill, TX, a suburb of Dallas. Slots 3, 4, and 5, respectively, were awarded to Palos Hills, IL (13 miles outside of Chicago), Marietta, GA (near Atlanta), and Jersey Village, TX (located a stone’s throw from Houston). Hanover, MA, found just outside of Boston, nabbed sixth place on the list, followed closely by number 7, Pine Island Ridge, FL (a suburb of Miami).
Although it is a suburb of New York City, the suburb of Clark, which is actually found in New Jersey, ranked at number 8 on realtor.com’s list. The final two spots were taken by Ashton, MD (located near Washington, DC), and Fullerton, CA (a suburb of Los Angeles), respectively.