Published by Forbes.com | October 15, 2022
The mass exodus from cities inspired by the pandemic may be over, but suburban markets are still hot.
With many people working remotely, the suburbs continue to be a more comfortable and affordable option without sacrificing access to the city, albeit with a bit of a longer drive or train ride.
Check out these suburban markets that are even giving New York City a run for its money.
The Woodlands, Texas
Established in 1974, The Woodlands was devised by oil magnate, George Mitchell, who sought to create a complete master-planned community unto itself a lushly forested stretch some 28 miles north of Houston.
Today, Mitchell’s dream has been realized as the community has grown to over 118,000 residents and 2,200 businesses, being named the “Best City to Live in America” two years running by Niche. The township saw a sharp rise in popularity during the pandemic, says Teni Kalafian of Houston-based brokerage, Baker & Co., who credits the expanse of remote work as one of the main factors in the township’s growing market.
Paradise Valley, Arizona
Nowhere else in the country is growing more than Arizona—specifically Maricopa County, which encompasses Phoenix and the next suburb, Paradise Valley, where more new residents were added than any other county in the U.S.
Founding partner of RETSY, Angela Philips, says that the increase is in large part due to wealthy homeowners looking to escape high tax burdens.
Cambridge, Massachusetts
On the East Coast, young, wealthy professionals are moving to the Boston suburb of Cambridge, says Catherine Bassick, CEO and owner of Bassick Real Estate Advisors. Long known as the hub for some of the country’s top educational institutions, Cambridge has also evolved into a hotbed for successful startups.
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