Suburban Renewal: What’s Driving It?

Suburban Renewal: Interest Grows Among Younger, First Time Buyers

Young Family Packing

For several years, Millennials and young Gen Xers have been flocking to bigger cities to be close to the action. But with the rising cost of city living, and the fact that they’re starting to have families, they’re being forced to either pay a premium for rent or find affordable housing outside of the city.  (https://www.ahs.com/home-matters/suburban-renewal-interest-grows-among-younger-first-time-buyers?)

These first-time homebuyers are looking for amenity-rich suburbs that have more of an urban feel with Restaurants, nightspots, entertainment, stores and public transportation.  And they aren’t sinking every hard earned penny into their home.  They prefer smaller, more modest single-family homes allowing for room in the budget to do other things they find important.

Riverside’s Downtown area offers much of what these younger generations are looking for in urban to suburban appeal, hence the increased demand for home in the downtown area.  Edith Gingerich, Broker 951-640-3881

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