SANTA CLARA, Calif.,
Nov. 17, 2020 /PRNewswire/ -- As the
global pandemic reaches new heights across the United States, Americans are likely to be
spending even more time at home this winter. With home
shoppers already searching for more space in a housing market that
has yet to slow down, today realtor.com® revealed the
top suburbs that offer the most affordable space near the nation's
10 largest metros.
"These areas just outside of the urban centers of the largest
metros offer homebuyers more space for the money. Potential buyers
who've been dreaming of more space for work and play don't have to
look far to save 29% per square foot on average or get 25%-65% more
square footage for the same price as a home closer to downtown,"
said realtor.com® Chief Economist Danielle Hale. "For a 2,000-square-foot home,
this could mean 500-1,300 additional square feet."
Realtor.com® identified the top suburbs that offer
the most affordable space by analyzing list prices and median price
per square foot for single-family homes within 25 miles of the
nation's 10 largest metros.
The biggest savings out of the 10 largest metros can be found in
Fullerton, Calif., where
homebuyers can find a 2,000-square-foot single family home for
$304,000 less, on average, than in
nearby Los Angeles. Also offering
significant savings is Clark,
N.J., right outside of New York
City, where buyers can save almost a quarter of a million
dollars, on average, on a 2,000-square foot home, or get an
additional 1,025 square feet for the same budget compared to
similar city homes.
For those looking for more space, here's where to head (ranked
by median listing price):
1) Sicklerville,
N.J.
Urban Metro: Philadelphia
Median Listing Price: $282,000
Savings Per Square Foot: 20%
(Suburb: $118 / Urban: $148)
Median Income: $89,300
A 30-minute drive southeast of Philadelphia, Sicklerville is a community located within
Winslow Township in Camden County, N.J. With a population of
53,099 and 10 constituent neighborhoods, Sicklerville is the 22nd largest community in
New Jersey. Sicklerville offers easy access to the
outdoors with the New Brooklyn County Park for playing sports and
canoeing, and the Winslow Fish and Wildlife Management Area for
fishing, hunting and bird watching.
2) Cedar Hill,
Texas
Urban Metro: Dallas
Median Listing Price: $352,000
Savings Per Square Foot: 23%
(Suburb: $124 / Urban: $161)
Median Income: $76,600
Located within Dallas,
Cedar Hill is "the city in a
park," and has become a destination for nature enthusiasts, hikers,
cyclists, mountain bikers, boaters, campers and adventure
competitors. Cedar Hill offers
extensive shopping, and a variety of diverse dining options for its
48,463 residents. On average, there are 229 days of sunshine per
year in which to enjoy the Dogwood Canyon Audubon Center or Cedar
Hill State Park on Joe Pool Lake. The area boasts a strong school
system, including Cedar Hill Collegiate Academy (GreatSchools
rating 9/10).
3) Palos Hills, Ill.
Urban Metro: Chicago
Median Listing Price: $379,000
Savings Per Square Foot: 24%
(Suburb: $139 / Urban: $184)
Median Income: $65,700
Palos Hills is a southwest
suburb of Chicago, offering a
dense suburban feel with most of its 17,195 residents owning their
homes. An array of restaurants, coffee shops and parks -- including
Bennett Park, where they offer
outdoor movies and fishing -- make this town a draw for young
professionals and retirees. The area is also home to many young
families due to its top-rated school system, which includes Oak
Ridge Elementary School (GreatSchools rating 10/10).
4) Marietta,
Ga.
Urban Metro:
Atlanta
Median Listing Price: $440,000
Savings Per Square Foot: 21%
(Suburb: $143 / Urban: $181)
Median Income: $96,500
A 25-minute drive to Atlanta,
Marietta is one of Georgia's most
populous cities, with a population of 67,000. The city offers an
historic downtown, shops and restaurants, and Glover Park is home
to outdoor festivals, concerts, weddings and special events.
Marietta Square hosts art strolls,
parades and farmers markets. The area boasts a desirable school
system which includes Lassiter High
School (GreatSchools rating 10/10).
5) Jersey Village,
Texas
Urban Metro: Houston
Median Listing Price: $447,000
Savings Per Square Foot: 36%
(Suburb: $126 / Urban: $198)
Median Income: $85,400
A suburb of Houston,
Jersey Village is located in
west-central Harris County, and
has a population of 7,620. The area abounds with parks, golf
courses, community events, farmers markets and recreational pools.
It is also nearby to Traders Village Houston, home of the largest
flea market in Texas.
6) Hanover, Mass.
Urban Metro: Boston
Median Listing Price: $670,000
Savings Per Square Foot: 34%
(Suburb: $231 / Urban: $350)
Median Income: $129,100
While Hanover is a 30-minute
drive to Boston, the town's 14,000
residents maintain a "country town" atmosphere. Hanover offers shopping malls, parks, trails
and sports fields. Ponds, streams and rivers, which join the
historic North River as it flows
to the Atlantic Ocean, provide both summer and winter recreational
opportunities such as fishing and canoeing. Hanover has highly-rated schools, including So
Shore Vocational Technical High School (GreatSchools rating
7/10).
7) Pine Island Ridge-Plantation,
Fla.
Urban Metro: Miami
Median Listing Price: $679,000
Savings Per Square Foot: 34%
(Suburb: $224 / Urban: $341)
Median Income: $75,000
Pine Island Ridge is a 35-minute drive to Miami, and has a population of 5,199, with the
average age of a homeowner being 55 years old. Recreational
activities on offer include an aquatic center, parks,
programs/camps and special events. Also, you can hike beautiful
trails and explore tree tops at the Pine Island Ridge Natural Area
and the Pine Island Ridge Trail.
8) Clark, N.J.
Urban Metro: New York City
Median Listing Price: $798,000
Savings Per Square Foot: 34%
(Suburb: $242 / Urban: $366)
Median Income: $111,400
Clark is a township in southern
Union County, N.J., with a
population of 15,943. The community honors historic moments with
the Dr. William Robinson Plantation Museum and 9/11 Memorial.
Clark's abundance of parks offers
recreational activities like fishing, trails and fields for playing
sports. Clark has highly-rated
schools, including Arthur L Johnson High School (GreatSchools
rating 7/10).
9) Ashton-Sandy Spring,
Md.
Urban Metro: Washington, D.C.
Median Listing Price: $844,000
Savings Per Square Foot: 39%
(Suburb: $178 / Urban: $294)
Median Income: $153,300
Made up of two neighborhoods -- Ashton and Sandy Spring -- this community is located in
Montgomery County, with a
population of 5,628. The town is home to the Sandy Spring Museum
and Sandy Spring Slave Museum, which both provide social and
cultural activities like concerts, workshops and events. The
Adventure Park at Sandy Spring
offers residents ziplining, rope rigs and wooden bridges to
explore.
10) Fullerton,
Calif.
Urban Metro: Los Angeles
Median Listing Price: $1,155,000
Savings Per Square Foot: 27%
(Suburb: $418 / Urban: $570)
Median Income: $109,900
Located in northern Orange
County, Fullerton is a
30-minute drive to Los Angeles and
has a population of 139,640. It is home to a vibrant music scene,
and has a small but diverse theater community, including The
Muckenthaler Cultural Center which houses art galleries and a
theater group, and The Fullerton Museum Center has educational
programs on offider. Fullerton
maintains more than 50 city parks, including Hillcrest Park, Chapman Park and the Orange
County Regional parks. The area boasts a desirable school system,
which includes Troy High School
(GreatSchools rating 10/10).
For up-to-date home listings in these cities, please visit
realtor.com®.
Methodology
Realtor.com® analyzed list prices for
single-family homes, 1,800 square feet or larger, in the nation's
largest metros and suburbs within 25 miles of the downtown centers
of each. Eligible suburbs had a median listing price within 20%
above or below their urban center. The suburbs were then ranked by
the lowest median price per square foot. Suburban and urban ZIP
codes in the nation's 100 largest metropolitan areas were
classified based on household densities.
About realtor.com®
Realtor.com® makes buying, selling and living in
homes easier and more rewarding for everyone.
Realtor.com® pioneered the world of digital real estate
20 years ago, and today through its website and mobile apps is a
trusted source for the information, tools and professional
expertise that help people move confidently through every step of
their home journey. Using proprietary data science and machine
learning technology, realtor.com® pairs buyers and
sellers with local agents in their market, helping take the
guesswork out of buying and selling a home. For professionals,
realtor.com® is a trusted provider of consumer
connections and branding solutions that help them succeed in
today's on-demand world. Realtor.com® is operated by
News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move,
Inc. under a perpetual license from the National Association of
REALTORS®. For more information, visit
realtor.com®.
Media contact:
Janice McDill,
janice.mcdill@move.com, 312.307.3134
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SOURCE realtor.com