Huffington Post reports that small cities are growing faster than normal, as a lack of affordable housing in big cities is driving homebuyers to search elsewhere.
Cities with fewer than 200,000 residents grew faster than larger metropolises between 2017 and 2018 as high housing prices chased many people away from big cities and their closest suburbs.
The biggest cities grew by a collective 326,000 people, less than half the number earlier in the decade, and less than the number for smaller cities — 421,000 for cities with populations between 10,000 and 50,000.
And small towns of fewer than 10,000 people grew more quickly than earlier in the decade, attracting more than 142,000 new people last year, according to a Stateline analysis of U.S. Census Bureau estimates, driven in part by retirees seeking affordable housing.
Advertisement
Related Stories
Sustainability
Mention of Eco-Friendly Home Features Is on the Rise in Sales Listings
Home listing descriptions using eco-friendly terms have been rising over the past five years in line with growing consumer interest in the environment and energy efficiency
Design
What Gen-Z Buyers Really Want in a Home
The fervor of planning for Millennials in the home building industry has now pivoted to Gen Z. So, what does this new generation want?
Building Materials
Lumber Leads Building Materials Prices Higher in March
Overall, the cost of building materials rose during March, with softwood lumber, gypsum products, and concrete all seeing price increases. Only steel mill materials saw price drops