Traditionally young people flock to big cities to start off on their own. But according to Business Insider, recently, increased housing prices and competition in the job market have led millennials to smaller cities. They created a list of the top U.S. cities young folks are flocking to, based on data from mortgage, personal finance and real estate analytics companies. They include Charlotte, North Carolina, which “grew by nearly 11,000 in 2015.” Seattle, Washington saw the biggest increase of millennials, than any other city on the West Coast, adding about 10,000 to its population within the past two years. Additional cities include Oakland, California, Fargo, North Dakota and New Orleans, Louisiana.
Another national study touts Springfield as a good place for would-be homeowners or real-estate investors to buy housing.
A Forbes staff writer and a blogger in its unpaid “contributor network” teamed up to generate a list of 20 “Best Buy Cities” headlined “Where To Invest In Housing In 2018.”
Springfield, a newcomer to the magazine’s list, ranked No. 8, between the Atlanta and Fort Worth-Arlington, Texas markets.
“If you are looking for a quick flip these may not be the markets for you,” wrote Forbes real estate and tech correspondent Samantha Sharf.
“Rather, these are the places where that growth appears most sustainable over the medium to long term.”
According to the Forbes “Best Buy Cities” post, Local Markets Monitor CEO Ingo Winzer drew up the list from a pool of 330 U.S. markets, selecting only ones with a population of 500,000 and greater.
Springfield showed up among the top 20 markets that scored best in five measures examined by Winzer:
- 1-year job growth (this measure was used to assign rankings)
- 3-year population growth
- 1-year home price growth
- Local Market Monitor’s 3-year home price forecast
Forbes noted that Springfield homes are 17 percent undervalued compared to historical price and income norms. Local Markets Monitor forecasts Queen City home prices to grow 14 percent in the next three years.