Looks like another generation of Americans finds the suburban life appealing. Recently released Census Bureau estimates found that urban areas accounted for only 20% of the country’s population growth between July 2014 and July 2015. The mark is 1% lower than last year and 6.7% lower than in 2011.
According to Fortune, the older Millennials are now looking to buy their first houses, and suburban real estate is more affordable than urban properties.
Some of the trendier cities for younger adults, including New York City, Boston, and Austin, Texas, have experience slower growth. A few Rust Belt cities, including Chicago, Cleveland and Pittsburgh, lost more residents than they gained last year.
Some suburbs in the west and south experienced a significant population increase. Georgetown, Texas, a suburb of Austin, saw the biggest boom, rising 7.8% to 63,716. Other popular cities included Frisco (6.3 to 154,407), a city near Dallas; Dublin (5.5% to 57,721), which is just outside of the Bay Area; and Broomfield (5.2% to 65,065), located north of Denver.
Related Stories
Market Data | Aug 12, 2021
Steep rise in producer prices for construction materials and services continues in July.
The producer price index for new nonresidential construction rose 4.4% over the past 12 months.
Market Data | Aug 6, 2021
Construction industry adds 11,000 jobs in July
Nonresidential sector trails overall recovery.
Market Data | Aug 2, 2021
Nonresidential construction spending falls again in June
The fall was driven by a big drop in funding for highway and street construction and other public work.
Market Data | Jul 29, 2021
Outlook for construction spending improves with the upturn in the economy
The strongest design sector performers for the remainder of this year are expected to be health care facilities.
Market Data | Jul 29, 2021
Construction employment lags or matches pre-pandemic level in 101 metro areas despite housing boom
Eighty metro areas had lower construction employment in June 2021 than February 2020.
Market Data | Jul 28, 2021
Marriott has the largest construction pipeline of U.S. franchise companies in Q2‘21
472 new hotels with 59,034 rooms opened across the United States during the first half of 2021.
Market Data | Jul 27, 2021
New York leads the U.S. hotel construction pipeline at the close of Q2‘21
Many hotel owners, developers, and management groups have used the operational downtime, caused by COVID-19’s impact on operating performance, as an opportunity to upgrade and renovate their hotels and/or redefine their hotels with a brand conversion.
Market Data | Jul 26, 2021
U.S. construction pipeline continues along the road to recovery
During the first and second quarters of 2021, the U.S. opened 472 new hotels with 59,034 rooms.
Market Data | Jul 21, 2021
Architecture Billings Index robust growth continues
AIA’s Architecture Billings Index (ABI) score for June remained at an elevated level of 57.1.
Market Data | Jul 20, 2021
Multifamily proposal activity maintains sizzling pace in Q2
Condos hit record high as all multifamily properties benefit from recovery.
