Homebuyers flock to metros with better housing affordability

by Candyd Mendoza11 Apr 2019

People migrate to metropolitan areas because of their housing affordability, net migration, quality of life, and job market scores, according to a U.S. News & World Report survey.

The study surveyed thousands of people throughout the country to find the qualities they considered important in a hometown.

Austin, Texas, topped the survey’s “Best Places to Live in the United States” list for the third consecutive year. Denver followed at No. 2, and Colorado Springs, Colo., at No. 3. Fayetteville, Ark., and Des Moines, Iowa, rounded out the top five.

Minneapolis-St. Paul; San Francisco; Portland, Ore.; and Seattle made the Nos. 6, 7, 8, and 9, respectively. Raleigh and Durham, N.C., tied, completing the top 10. Drops in housing affordability and net migration this year have affected Washington, D.C., which fell from No. 8 to No. 19.

"Our Northeastern cities, which are epicenters of higher education and economic development, are not growing nearly as much as places in Florida, California and Texas," said Devon Thorsby, real estate editor for U.S. News & World Report. "Plus, they are expensive to live in. Top-ranked places have the characteristics people are looking for, including steady job growth, affordability and a high quality of life."