For homebuyers considering a move to the suburbs or the country, here are some statistics to think about.
The 1920 US Census was the first time that more than 50% of the population was classified as urban. A century later, 80% of Americans now live in urban areas.
While Covid encouraged many folks to escape to the country, most Americans still choose to live in urban areas.
Why? Urban areas offer better-quality infrastructure, amenities, and entertainment, as well as easier access to more employment opportunities, healthcare facilities, public transport and schools.
On the other hand, the disadvantages of living in urban areas include higher-priced housing, smaller homes, and more crowds and noise. Thus, an escape to the country still offers plenty of benefits.
Rural areas also offer an easier opportunity to appreciate pets, especially larger ones like horses. Smaller communities usually enjoy lower crime rates (but not always), and individuals tend to have a wider circle of friends because of the nature of the community.
Homebuyers considering rural employment opportunities may also have the chance – albeit smaller than that of the peak pandemic years – of working from home.
The US Census Bureau noted in October 2023 that fewer than 26% of Americans now work from home following a push by US companies to encourage employees to return to the office.
For urban-based homebuyers trying to decide whether they could move to the country, buying in a smaller regional town may be the perfect compromise.