When searching for a first home or a new one, millions of Americans are seeking out listings in suburbia, where buyers are likely to purchase more bang for their mortgage bucks.
“For many Americans, moving to the suburbs is a merit of success,” said Kristina Zagame, Author at Today’s Homeowner [1], the news site of the popular eponymous home improvement show. “If you’re moving out of the city, you’re likely trading an apartment for a multi-room house and a yard. If you’re moving from the country, perhaps you’re looking to be closer to the hustle and bustle of a big city without sacrificing too much space.”
The research team at Today’s Homeowner [1] conducted a study of U.S. suburbs and created a data-supported ranking of the best—based on metrics such as housing affordability, inventory, job market and livability (climate risk, entertainment and dining, and so forth)—for first-time buyers.
Bel Air topped the list—no, not TV’s Los Angeles suburb, but Bel Air, Maryland, near Baltimore. Other suburbs with solid showing on Today’s Homeowner’s list included:
- Two suburbs of Wichita, Kansas—Newton and Andover —ranked in the top 10 suburbs (numbers five and nine, respectively).
- Fort Mill, South Carolina (a suburb of Charlotte, North Carolina) earned the highest “livability” score based on entertainment and dining options, low climate risk, and percentage of households with children.
- Nashville, Tennessee; Charlotte, North Carolina; Indianapolis; Austin, Texas; and Washington, D.C. were the other top-ranked suburbs on average.
According to Zagame, who based her summary on Alexis Curls’ review of the data, Southern and Midwestern suburbs scored higher in the rankings for first-time homebuyers.
“Most of the top 100 suburbs are outside of up-and-coming urban areas that offer plenty of dining and entertainment options but still have affordable homes for sale.”
The researchers at Today’s Homeowner suggest home shoppers with location flexibility consider, as they did, the following factors first:
- Lifestyle (preferred climate, terrain, hobbies)
- Budget (median sales prices, cost of living, average wages, cost of moving)
- Career (in-person versus remote work, local labor statistics)
- The city’s potential
Some cities in the top 10 might come as a surprise, the researchers point out, but agents and shoppers should consider the “investment potential” and “up-and-coming” neighborhoods.
“Suburbs with a high inventory of affordable homes may become untouchable in a few years,” they note in the report.
For the complete findings and an explanation of methodology, visit todayshomeowner.com. [1]