A new study of the largest U.S. metros identified 10 small towns on the verge of becoming "urban powerhouses," by measuring building permit growth, income, home prices, and cultural amenities.
Chris Porter, chief demographer at John Burns Real Estate Consulting, pointed out, “A lot of them are in the South, a region with great affordability, a business-friendly environment, and warmer weather." Also noteworthy was the fact that none of the cities on Realtor.com's list were on the West Coast. Maryland's large Eastern Shore metro, Salisbury, took the number one spot. The metro's population has more than doubled since 2013, prompting a wave of new business openings in the area, including about two dozen breweries.
It wasn't long ago that red-hot (and ultra-expensive) cities such as Seattle, Nashville, TN, and Austin, TX, were considered sleepy or secondary markets. Ah, memories. When cities reach the exclusive and ever-elusive boomtown status, they find themselves bursting with good-paying jobs, world-class culture, and Instagram-worthy foodie havens. Homeowners who got into these magical markets early can sell their homes for mega-profits. But those trying to buy into them post-boom might find the entry price too steep.