March 29th, 2016 10:52 AM by Eileen Denhard
Over the last decade, many of the nation’s cities — from Boston to Seattle — saw their populations grow. “The suburbs are dying,” some cried in response.
Not so fast. A Brookings Institution analysis of U.S. Census data shows that in 2014, the population growth of the suburbs equaled that of urban areas. City living has its appeal, but so does the suburban lifestyle.
However, this is no longer an either/or conversation. Hybrid communities that incorporate the walkability of city living within planned suburban subdivisions are cropping up across the country. Residents of these urban-minded suburbs can walk to schools, restaurants, shops and entertainment options. Some of these communities are also located next to industrial parks, potentially also reducing the commute for local residents.
This phenomenon isn’t just anecdotal: The American Communities Project counts 107 suburban counties that are close to major cities but have taken on many city characteristics.
The Residential Specialist talked to CRSs who have seen the urban suburb flourish. These walkable communities are drawing a range of homebuyers who are willing to pay more to have the best of both worlds.
Read the rest of the story here.
This story, by Gayle Bennett, originally appeared in the November/December 2015 issue of The Residential Specialist.