Denser, More Urban Suburbs
Suburbs in America have become more diverse and urban and, according to an upcoming study from Demographic Strategies for Real Estate, that change is just getting started. An article by Patrick Sisson in Curbed reports, "This archetypical part of the American landscape, which has constantly been evolving, is in for some massive changes over the next decade that will reshape planning, land-use, and the real estate market." The old cliché of the lily-white suburb may need an update as increasingly American minorities and immigrants are choosing to live in them.
Sisson's article says the cause of this evolution is rooted to foundational changes in the country, "Powered by social and demographic shifts involving young workers, immigrants, working women, and retirees, suburbs will get denser, more diverse, and more urban."
While some U.S. politicians may bemoan what they see as blighted inner cities, home buyers around the country seems to see things differently. "The urban lifestyle is becoming more and more popular, so suburban towns and developers are increasingly catering those looking for a more walkable, dense community. A new supply of smaller homes with little or no yards in high-population areas will meet the demand to commute less and live closer to restaurants and entertainment." This doesn’t just mean homes with smaller footprints, it also means more shared dwellings and apartments; high-density suburbs may be yet another reason for the decline in single family homes around the U.S.
Whichever of these causes is the key driver of the change, the country is changing and the suburbs are changing with it.