I have put together a top ten list of America’s fastest-growing cities, and why you should be checking out their housing markets:
San Francisco, California
San Francisco is one of the largest cultural hubs in America. A solid job market and a great climate are only two of the many reasons San Francisco is a popular city. The city has continued to grow in recent decades because it is in the center of the tech industry. Even if you aren’t a tech whiz, you don’t need to worry. There are many job opportunities in finance, professional services, manufacturing, and the travel industry. Despite the high cost of living, San Francisco continues to be one of the most highly desired places to live in the U.S.
While San Francisco offers higher wages than most of the country, its median single-family home price is over $1,600,000. There are no signs that these prices will drop anytime soon, so home buyers on a budget might want to look elsewhere.
BusinessInsider.com, named Provo, one of the fastest-growing cities in the U.S. Provo, is home to a large tech industry – including a major division of the software company Adobe – and is near Brigham Young University.
The median home price in Provo is currently $305,500. Provo’s home values will probably rise in the coming years, so right now could be a great time to buy.
Seattle offers a similar West Coast culture to San Francisco, but at a more affordable price. The city is home to Amazon and Microsoft and boasts a growing job market with high employment rates.
Many experts think Seattle’s housing market is one of the strongest in the country right now. Median home prices have risen to $777,000. This may seem high compared to others on this list but is lower than some other popular West Coast cities.
Fort Collins, Colorado
Northern Colorado has grown rapidly in recent years, and Fort Collins has seen a large portion of this growth. The city is home to Colorado State University and growing tech industry. Fort Collins also offers plenty of shopping and dining in its beautiful historic downtown.
While Fort Collins’ housing market has seen rapid growth in the past couple of years, this growth is starting to level out. If you are looking for a stable housing market to invest in, Fort Collins might be a great option.
Dallas has been one of the most popular housing markets in the country for years. Its high employment rates and a strong economy have attracted many businesses and their employees to the area.
Although Dallas is no longer growing as fast as it was, its current rates are still some of the highest in the country. The median home price in the area is currently $339,950, and will probably continue to rise in the future.
Sarasota offers unique scenery and a growing job market. The unemployment rate reached the lowest point in over a decade this year. The area is great for beach lovers looking for an ocean escape.
Sarasota’s current median home value is $270,000. If you are looking to stay on budget while relocating to a growing job economy, Sarasota is worth a closer look.
Nashville, Tennessee, has shown steady job growth in several sectors, including the service industry, technology, education, and business management. The city’s musical history means there is plenty of art and culture throughout the area.
Nashville’s median home price is $255,000, and this number is predicted to increase in the next year. With its strong job market, Nashville’s housing could be a great deal for the right home buyer.
Raleigh, North Carolina
Many national companies and their employees are relocating to Raleigh because of its low business costs. Raleigh has been ranked as one of the hottest housing markets in the U.S. While Raleigh’s current housing market is affordable on most budgets, it is expected to rise in the next couple of years.
Related post: Millipedes in North Carolina
Charlotte, North Carolina
There are plenty of science and technology jobs available in Charlotte. The city is filled with historic architecture and has an active uptown shopping and arts district.
Charlotte was ranked as one of the top five of the hottest housing markets. Charlotte’s current median home value is $245,000, but this number will likely rise in the coming years. Homebuyers on a budget could see a substantial return on investment if they purchase a home in this region.
Atlanta’s job and housing markets have improved recently. Both show strong signs of continued growth in the coming years.
Atlanta’s median home price of $218,350 is the lowest featured on this list. While these home prices are expected to rise in the near future, Atlanta’s healthy economy might help you buy your dream home.