Frisco Among Best Places To Live In America
As millennials age, it’s not a question of whether they will settle down. It’s a question of where. After all, the generation-long chided as eternal renters are finally buying houses of their own. Of all the homebuyers in the U.S., more than a third were millennials in 2017, according to a study by the National Association of Realtors.
But they aren’t buying in the cities they’ve called home for over a decade. While millennials still prefer to rent in urban centers, those who want to own a home are packing their bags and moving — largely to the suburbs — when the time comes.
It’s not a lifestyle choice that’s driving buyers from big cities, it’s a matter of affordability. Millennials, in general, are moving where they still have the ability to buy. Whether you’re a millennial in the market for the first time or just looking for a thriving spot to resettle your family, the list below might help you make a choice:
As you can see, the top 50 spots are not filled with a New York or San Francisco, even though these cities all have a population of 50,000 or greater. As it turns out, the best places to find a job, buy a house, and settle down are large suburbs or small cities where the cost of living is proportional to income.
Take, for example, this year’s top spot: Frisco, Texas. What was once a tiny rail town had become the fastest-growing city in the U.S. by mid-2017, according to the Census Bureau. While there’s a lot to love about Frisco, part of its appeal is the city’s relatively low cost of living compared with its higher incomes and booming job growth. A typical Frisco family could pay off a new home in less than half the time it would take a Bostonian one to do so.
Frisco has company: A recent Census report shows that, while overall mobility is down and growth is slowing in the Northeast, the population in parts of the South and West is booming. In 2017, 10 of the 15 fastest-growing cities were in Southern states, with seven in Texas alone.