The information provided on this website does not, and is not intended to, act as legal, financial or credit advice; instead, it is for general informational purposes only. Information on this website may not be current. This website may contain links to other third-party websites. Such links are only for the convenience of the reader, user or browser; we do not recommend or endorse the contents of any third-party sites. Readers of this website should contact their attorney, accountant or credit counselor to obtain advice with respect to their particular situation. No reader, user, or browser of this site should act or not act on the basis of information on this site. Always seek personal legal, financial or credit advice for your relevant jurisdiction. Only your individual attorney or advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this website or any of the links or resources contained within the site do not create an attorney-client or fiduciary relationship between the reader, user, or browser and website owner, authors, contributors, contributing firms, or their respective employers.
Credit.com receives compensation for the financial products and services advertised on this site if our users apply for and sign up for any of them. Compensation is not a factor in the substantive evaluation of any product.
If you’re interested in living somewhere that has plenty of growth in jobs and housing, this list is for you.
Realtor.com recently took a look at cities across the country and put together their list of “boom towns” by combining projected measures of job creation, household formation and new construction for 2016 and determining their five-year projected household growth.
The areas who made the list have as much as five times the average job growth of the top 100 counties in the country. And there’s some serious growth happening outside of jobs, too, though. According to the website, household growth in each of these areas is between one and seven times the average growth of the top 100 areas, while new home starts are between one and six times the average growth in the top 100 counties, And each of the top 10 individual ZIP codes are projected to see a growth in households of between 9% and 19% over the next five years, Realtor.com found.
At the top of the list is Phoenix suburb Gilbert, Arizona. The town’s population doubled every five years from 1980 to 2000, and buildout is anticipated in 2030 with a population of 305,000, according to the Town of Gilbert’s website. Gilbert also has one of the highest median incomes in the state of Arizona at $80,080, and a population of three persons per household.
“The strength of the residential real estate market is closely correlated to growth in jobs and households,” Jonathan Smoke, chief economist for Realtor.com, said in a press release. “The good news for these markets is that these growth factors have already started to translate into new construction. At the same time, it may be a year or so before some markets on our list start to see an increase in inventory. If anything, this is a road map for where builders should be thinking about where to break ground next.”
Here’s Realtor.com’s list of the top 10 cities for job and housing growth.
Largest Neighborhood: Power Ranch
Largest Neighborhoods: Historic, Cultural, Elysian Park, Mission Junction
Largest Neighborhoods: Downtown, Arts District, Uptown, Farmers Market
Largest Neighborhoods: Downtown, Midtown, Seaport
Largest Neighborhood: Mountain’s Edge
Largest Neighborhood: Belltown
Largest Neighborhoods: Villages of Rolesville, Carlton Pointe, Cedar Lakes
Largest Neighborhood: Williamsburg
Largest Neighborhoods: The Loop, downtown Chicago
Largest Neighborhood: Atlantic Station
If you’re looking to buy a new home, it’s good to make sure you can meet down payment requirements before shopping for a mortgage. You should also make sure you can handle monthly mortgage expenses and safely cover other ancillary costs, like real estate agent fees, property taxes, home insurance and repairs. And your credit should be in tip-top shape. Scores of 740 and higher generally earn the best terms and conditions on a mortgage. You can see your credit scores for free each month on Credit.com to learn where your credit currently stands.
Thinking of moving out of your current city or state? Check out our list of the most affordable places to live in the U.S.
Image: Printezis
April 11, 2023
Uncategorized
September 13, 2021
Uncategorized
August 4, 2021
Uncategorized