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
Multifamily Housing | May 18, 2021
Multifamily housing sector sees near record proposal activity in early 2021
The multifamily sector led all housing submarkets, and was third among all 58 submarkets tracked by PSMJ in the first quarter of 2021.
Market Data | May 18, 2021
Grumman|Butkus Associates publishes 2020 edition of Hospital Benchmarking Survey
The report examines electricity, fossil fuel, water/sewer, and carbon footprint.
Market Data | May 13, 2021
Proliferating materials price increases and supply chain disruptions squeeze contractors and threaten to undermine economic recovery
Producer price index data for April shows wide variety of materials with double-digit price increases.
Market Data | May 7, 2021
Construction employment stalls in April
Soaring costs, supply-chain challenges, and workforce shortages undermine industry's recovery.
Market Data | May 4, 2021
Nonresidential construction outlays drop in March for fourth-straight month
Weak demand, supply-chain woes make further declines likely.
Market Data | May 3, 2021
Nonresidential construction spending decreases 1.1% in March
Spending was down on a monthly basis in 11 of the 16 nonresidential subcategories.
Market Data | Apr 30, 2021
New York City market continues to lead the U.S. Construction Pipeline
New York City has the greatest number of projects under construction with 110 projects/19,457 rooms.
Market Data | Apr 29, 2021
U.S. Hotel Construction pipeline beings 2021 with 4,967 projects/622,218 rooms at Q1 close
Although hotel development may still be tepid in Q1, continued government support and the extension of programs has aided many businesses to get back on their feet as more and more are working to re-staff and re-open.
Market Data | Apr 28, 2021
Construction employment declines in 203 metro areas from March 2020 to March 2021
The decline occurs despite homebuilding boom and improving economy.
Market Data | Apr 20, 2021
The pandemic moves subs and vendors closer to technology
Consigli’s latest market outlook identifies building products that are high risk for future price increases.
