March 30, 2021
Living in notable cities was once a dream for many. In recent times, however, affordability has become more of a priority than location. Cities like San Francisco and San Jose are projected to be some of the most expensive places to live in the nation. As Americans continue to take a more minimalistic approach to lifestyle, small affordable cities have become more attractive.
According to data provided by realtor.com, consumers were backing down from high-priced housing even before the pandemic. Due to the financial complications inflicted by the stay at home orders, this trend picked up significantly. Citizens are either staying local and fleeing to the outskirts, or moving out of their city altogether. This makes big cities similar to the two listed above more valued as tourist attractions rather than places to call home. According to Forbes, even if citizens decided to move to the outskirts of their original city of choice, they can save up to $578 in rent alone. This contrast is similar with purchasing a home as well. To put this into perspective, Vallejo California is number one on the hot markets list with a median home price of $510,000. Vallejo is a 35 minute commute from San Francisco, which has a median home price in the millions. Even though Vallejo is in the high six digits, that is significantly more attractive than a seven figure price tag.
Overall, the thought of living in a big city is not as dreamy as it used to be. Affordability and minimalistic lifestyles are becoming the new American dream.
Trevon Martin // CIRB Journalism Intern