When deciding where to purchase your next home, there are a lot of factors to take into consideration. How many bedrooms do you need? Do you prefer open-plan or plenty of doors and hallways? Do you need a big yard for your dog to run around in? One of the biggest factors when purchasing is location. For many, location is not something that can be compromised, perhaps you have a job you plan on staying at, or family that you would prefer to stay close to. However, for some, choosing a new location is all part of the exciting adventure.
The first step in choosing what location to live in is to decide what sort of feel you are going for. Maybe you have small children and are ready to move to suburbia where the schools are top notch. Maybe you’re young and energetic, looking for a big city that matches your personality. Or maybe you’re right in between and needing a bit of both. If you are in that middle ground, an 18-hour city might be just what you are looking for.
Cities such as Los Angeles, New York, and several more, are often referred to as cities that never sleep, or 24-hour cities. 18-hour cities, or second-tier cities, are very similar, however they sleep for a few hours a night. The name 18-hour cities acknowledges that businesses operate outside of the traditional 9-5, however not quite all night long. These cities give a big-city feel without many of the big-city problems and can be a great option for millennials and younger generations who are not quite ready to settle down just yet.
One of the main draws to these cities is the affordability. Home buyers are able to find single-family homes in the 18-hour cities for the same price as apartments or townhomes in the 24-hour cities. This gives the home buyers opportunities to grow their families and their plans without having to make another big move. On average, living in a big city like New York costs more than double per square foot than living in an 18-hour city. For many, the big-city amenities do not warrant their prices, especially when many of said amenities can be found in second-tier cities.
It is no secret that big companies often reside in larger cities with good economies and good business reputations, however even employers are starting to move to the 18-hour cities. Even the most financially successful businesses are looking for cheap places to grow their company, and 18-hour cities also provide a workforce that they know they can appeal to. These second-tier cities are becoming increasingly popular with the millennial generation, and with their tech-savvy skill-sets, they can provide a very strong workforce for the hundreds of tech companies that are moving there.
18-hour cities provide home buyers cheaper properties in more spacious areas that allow for growth of their family. They provide all of the bars and restaurants that can be found in the big cities without the headache of traffic or noise throughout the night. With an influx of businesses in these cities, home buyers are given the opportunity to start a life in a place that still has all of the fun amenities they may find in Los Angeles. Check out some of the most popular 18-hour cities below.
- Median Household Income: $77,382
- Median Rent Price: $1,379
- Unemployment Rate: 4.1%
- Median Household Income: $61,156
- Median Rent Price: $1,179
- Unemployment rate: 3.4%
- Median Household Income: $86,771
- Median Rent Price: $1, 318
- Unemployment Rate: 3.8%
- Median Household Income: $76,643
- Median Rent Price: $1,602
- Unemployment Rate: 3.7%
- Median Household Income: $63,939
- Median Rent Price: $1,343
- Unemployment Rate: 2.3%
Ready to make a move to a new city? Find out how Champion Title and Settlements, Inc. can help at www.championtitle.com