For the past 10-15 years, the formerly less desirable neighborhoods of urban centers have regularly become populated by city residents willing to urban homestead as these areas have become gentrified.
Growing families who resisted the move to the suburbs were attracted by the larger space that their money could buy. They were also attracted by the interesting industrial architecture that was being converted into spacious, well designed, family-sized homes. The expression, “build and they will come”, became “convert industrial architecture and they will flock to these areas”.
This was especially true in areas around Minneapolis, Cleveland, and the neighborhoods in Manhattan, Brooklyn and Queens that abut the rivers, i.e. Tribeca, the Lower East Side, Dumbo, Williamsburg, and more recently Long Island City in Queens.
Since the recession of 2008 however, there has been a new type of migration and people have become willing to relocate much further away from the urban centers on either coast to the inland cities. The Redfin data analysis in “Why Cities Grow: The Data Behind the Story“, by Nela Richardson shows that home prices are significantly lower for higher quality homes in these upscale neighborhoods where good job possibilities also exist.
These cities include Oklahoma City (now the 12th fastest growing city in the U.S. in spite of the frequency of tornados), Columbus, Ohio, San Antonio and El Paso, Texas, and Provo, Utah amongst others. Job growth in these cities seem to also be a motivating factor; companies who need well educated, middle class employees are following this migration by establishing offices in these regions.
Are you noticing an increase of people moving into your city?