City living trend will change some suburbs

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The average urban home is worth about 2% more than the average suburban home, according to Zillow.

February 11, 2016
City living trend will change some suburbs

Bungalow houses in Chicago. Photo: Robin Amer/Creative Commons.

Real estate research firm Zillow reported the average urban home is worth about 2% more than the average suburban home. This is a change from 2013 when urban homes were worth 1.2% less.

In 2015, urban homes rose 7.5% in value, while suburban homes rose only 5.9%. The trend is indicative of how increasingly attractive large, walkable cities have become for millennials, many of whom are delaying having families. Some suburbs may start to feel more urban as buyers move further from city centers in search of affordable housing. 

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