Newest Neighborhoods in the US
Over the past decade, a shift in population toward more affordable parts of the U.S. has caused new-home construction to increase in previously underpopulated areas. In some areas, specifically in the Sun Belt, new-housing inventory growth has created brand new neighborhoods. In just one decade, housing inventory in some ZIP codes has grown by as much as 1,300%, according to a recent report from RentCafe.
The report, which seeks to identify the newest neighborhoods in the U.S., analyzed housing inventory and population growth across 32,000 ZIP codes to figure out the areas that saw a surge in new housing units of at least 51%.
What are the nation’s newest neighborhoods?
Overall, the top 50 newest neighborhoods include 17 ZIP Codes in Texas, seven in Colorado, and four in Florida.
However, Chino, Calif., saw the most growth over the last decade. In this metro, housing inventory grew by 1,318%, while population ticked up by 402.1%. Additionally, Timnath, Colo., saw inventory increase by 532% and population grew by 557.4% over the past decade, followed by Lewis Ranch, Colo., and then Fulshear, Texas, with respective inventory growth of 463% and 490%. Meanwhile, the population in these two metros grew by a respective 503.4% and 482.7%.
More new neighborhoods are springing up in the South than in anywhere else in the U.S.
The South is seeing increased construction activity, and it’s also where 30 of the top 50 new neighborhoods are located. Specifically, 21 of these new neighborhoods are located in the South Central region and nine are in the Southeast.
Meanwhile, the West is home to 14 of the newest neighborhoods, with half in Colorado. The remaining five are located in the Midwest.