Large cities, which in the past has previously dominated the list of the country’s top real estate markets, are losing their appeal as people discover they can work from anywhere, spend less, and escape dense crowds. This has unleashed a flood of demand for smaller metro areas. Other reasons, such as political beliefs, high taxes, and traffic have caused others to make the move out of state. The state of California, for example, saw the most people in 2021 making the move to relocate out of state.
Here are the top 5 upcoming markets for 2022 you may not know about. The places many people are making the jump to.
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Nashville is a relatively fast-growing city as many transplants are drawn to its warmer weather, lower cost of living, and of course its live music scene. Due to cheaper taxes and more flexible COVID-19 limitations, it has witnessed a record number of house buyers. Nashville will most likely see a record amount of out-of-state homebuyers in 2022.
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Austin has been a popular transplant city for a while now. People are drawn to the lack of income tax in Texas. Many companies including Tesla and Space X made the move here in 2021 due to its low state taxes. Austin is noted for its: pleasant weather, reasonably priced homes, and thriving cultural scene. Not only is Austin the official state capital, but it is also renowned as the state’s cultural capital. Austin’s most well-known attractions include music, art, and cuisine. Austin has everything to offer, from downtown life to calm suburbia.
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The Tampa Bay area, which also includes St. Petersburg and Clearwater, is one of the best places to live in the U.S., particularly for retirees. With assets such as great weather year-round, boasting beaches, theme parks, low state taxes, and low COVID-19 limitations. It's no wonder so many are making the move to Florida.
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Boise’s rise is due heavily to remote workers seeking a more affordable city as their new working arrangements allow them to work from anywhere. With the presence of a higher demand comes higher prices, and that is causing housing prices to increase dramatically in Boise, along with a housing shortage; However, Boise is a great place for people who love the outdoors. With year-round mild weather, plenty of parks, trails, and the Boise River running along downtown.
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Phoenix is already the fifth-most populous city in the United States, almost sometimes a hidden gem. A trend that is not slowing down. Phoenix saw double-digit population growth between 2010 and 2020. This is fueled by the arrival of tech companies and middle-class families from California and other more expensive areas of the country seeking more affordable housing.
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