In the 50 largest metropolitan areas, 79 percent of people live in the suburbs.
ULI released a new report, Housing in the Evolving American Suburb, and RCLCO developed a new way to analyze suburbs, taking into account factors such as density, housing type, home value, and proximity to downtown.
Among the findings, RCLCO said that in the 50 largest metros, suburbs accounted for:
- 91 percent of population growth
- 85 percent of children and 75 percent of people ages 25 to 34
- 76 percent of the minority population
Also, the median household income in suburbs ($71,000) is much higher than in urban areas ($49,200).
On average, the median home value in urban areas is $365,000 compared with $305,000 in suburban areas (not controlling for home type or size), with substantial variation by region.