Once upon a time, people though that city living is the future. Well, it definitely isn’t, at least not anymore. Suburban life is having a second boom as Millennials move away from cities and their outrageous prices and ending up in a more affordable environment where they can finally afford housing. Plus, many younger people are starting to enjoy the vibe and charm of suburbs that are rapidly changing and adapting to new generations. While the official data is still not available, the recent census reports that Millennials are moving away from cities and giving us a true suburban revival. Here are some of the biggest reasons why we have this migration.
Suburbs are safe
If you’re constantly bombarded by violence and crime that keeps on happening in urban environments, suburbs might be an answer. Many Millennials have families with young kids, and like all parents, they want to do everything in their power to keep their kids safe and secure. Typically, suburbs, especially those more family-oriented, offer better safety when it comes to streets, public spaces and any other aspect of living. And suburbs are not only safer when it comes to violence and crime. They are a much safer choice when it comes to schools—educational establishments are usually of better quality than inner-city schools. Why you might ask? According to experts, property taxes and council rates go towards school funding which benefits suburban establishments. But, no matter the reason, the fact that suburban schools have better facilities, equipment and staff is a reality we need to face.
The prices are lower
Sure, being a homeowner is very difficult for most Millennials. They have huge student loans and have to deal with rising prices of real estate without any rise in wages. However, being the second-largest generation today, Millennials are slowly climbing the corporate ladder and starting their own businesses that allow them to afford homeownership. But, they still can’t afford the property in the cities. Many Millennials state that if they could afford property in their city’s hippest area and stay near their friends, jobs and well-known bars, they would. However, living at a walking distance from cool restaurants in cool neighborhoods isn’t an option for most unless they are willing to double the cost of their mortgage. So, suburbs are the only thing left for them if they want to enter the real estate world.
The classic suburbia is changing
Many people still think that suburbs offer nothing special to their residents. However, if you can’t live without bars, cafés and shops, keep in mind that suburbs develop in a very interesting direction. Millennials can see that there are various shopping centers, shops, parks, rec spaces, gyms and other things being built—that’s everything a modern American family needs. This is a model the US took from other countries. For instance, Sydney is a wonderful place to live and work, but the prices are out of reach for most. Suburbs saw the gap in the market, made some changes and started to attract the younger population that caused the area to grow, develop and become more and more attractive and self-sustainable. If you look up some beautiful houses for sale in Northern Beaches, you will notice an amazing variety of listings, reasonable prices and an abundance of attractions and possibilities. Sydney suburbs are turning into Millennial hotspots that start to resemble cities more and more. These walkable oases are safe, secure and overflowing with energy and character. A similar thing is happening in the States as well and the rise of so-called ‘suburban’ environments is attracting more and more young, lively people.
They provide a better connection with nature
Millennials are a generation that is most eco-conscious, so it’s natural that they crave a better connection with nature. Luckily, with more space available, suburbs have more trees, parks, lawns and gardens where people can nurture their connection with nature. Most trails and hiking treks are also closer to suburban residents.
There are new work options
While some Millennials prefer to work in big cities where the hustle and bustle of the environment give them the motivation to push through, more and more companies are moving their offices to suburbs and taking advantage of space and cost of renting. So, workers are following their employer and moving closer to their offices to reduce the stress of commuting. This provides them with good job opportunities as well as more relaxing lifestyle.
By 2025, Millennials will make up 75% of the workforce, so where they choose to live and raise their families will definitely affect the economy in the long run. If cities want to retain Millennials and their contribution to commerce and corporate engines, their officials need to seriously rethink their policies. And since Millennials have no issues with moving, city economists may take comfort in knowing that if they do what it takes, the population will follow. But for now, suburbs will serve as a lovely and lively home for any Millennials.