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.
Advertisement
Related Stories
Market Data + Trends
Vacation and Investment Home Market Insights
A recent report finds beach homes to be the most sought-after vacation-home type and that the investment potential of a second home is an important factor in the purchasing decision
Affordability
How Much Income Do First-Time Buyers Need to Afford the Average Home?
The median-priced home is unaffordable in 44 of the 50 largest U.S. metro areas
Affordability
What Is the Relationship Between Urban vs. Suburban Development and Affordability?
A new paper from Harvard's Joint Center looks at whether expanding the supply of suburban housing could, in turn, help make dense urban areas more affordable