The privacy and local nature of the American suburb has become much more desirable over the years, especially during and after the pandemic, but most still miss the energy and amenities of city life. Now, many suburbs are blurring their lines with cities, growing a lot more urban to attract more residents. But, where are the best suburbs that feel like living a city life?
To determine the best suburbs with urban flair, StorageCafe’s new report analyzed 912 cities with populations between 10K and 100K in the 100 largest metropolitan areas and looked at several factors including: residential landscape, housing affordability, new construction and housing diversity, demographics, business environment, shopping and dining amenities, health, education, safety, transportation options, and self storage prices and availability as a way to maximize home space.
The Top 10:
- Edina, Minnesota. Here the housing is apartments, making the housing options pretty diverse. There are also almost 58 businesses per 1,000 residents and about 125 square feet of office space per capita. In addition, the suburb is home to the country’s first fully enclosed, climate-controlled shopping center, Southdale Center.
- Falls Church, Virginia. The housing inventory is equally divided between single-family and multifamily options, and new residential construction is booming in the area. The suburb is actually fifth in new home supply among the suburbs analyzed, with 60 building permits per 1,000 people in 2022. The median household income is over $155K—more than double the national average—and the local economic sector counts over 44 businesses per 1,000 residents.
- Palo Alto, California. There are around 60 businesses registered per 1,000 residents, and its downtown alone generated $3.2 million in sales-tax revenues in fiscal year 2021 – 22, more than in any other downtown in the area. The suburb also has the fourth-highest median income among all locations analyzed—roughly $195K. Additionally, there’s 1,900 square feet of park space per capita.
- Franklin, Tennessee. The suburb has a good business infrastructure and it’s relatively affordable in terms of housing. Also, it has a great downtown area with walkable streets and plenty of shops and restaurants. It’s home to many entertainment events, from street festivals to music events and family-friendly gatherings.
- Venice, Florida. Less than 50% of homes here are single-family residences, ensuring access to varied housing options, and new construction boasts over 42 building permits for new residential units per 1,000 people. The area also has plenty of entertainment opportunities.
- Suwanee, Georgia. The Atlanta suburb offers diverse living options, including high-quality mixed-use developments as well as many culture and entertainment amenities. There’s an active economic and employment market, with around 42 businesses per 1,000 residents and a median household income of $99K. The suburb recently started on a town center, a 25-acre urban-style greenspace.
- Los Gatos, California. Located in the Silicon Valley area, the suburb has a lively business environment—with Netflix headquartered here—a walkable downtown area, plus numerous shopping and dining options. The entertainment is also varied, including art as well as music and food festivals.
- Burlingame, California. The suburb is in the top third of the least expensive suburbs analyzed—with a very active business environment of 54 businesses registered per 1,000 residents, around 250 square feet of office space per capita. The housing inventory is divided almost equally between single-family homes and multifamily ones. The median household income is also over $150K.
- Lone Tree, Colorado. The suburb scored highest for health-related indicators—boasting easy access to healthcare and social assistance—low obesity rates and the highest life expectancy among the 900-plus suburbs analyzed. Additionally, 56% of housing options are single-family homes, while new residential construction is picking up pace at over 34 building permits per 1,000 residents. The business sector is also well developed, with 51 businesses per 1,000 residents and over 1,000 square feet of office space per capita.
- Burlington, Massachusetts. This Boston suburb is relatively affordable and offers an excellent business infrastructure (around 49 businesses per 1,000 residents, 350 square feet of office space per capita, plus coworking spaces). There are many walkable areas in Burlington, such as Third Avenue and the Burlington Mall.
Major takeaway:
When asked what major trends are shaping real estate development, particularly in the suburbs, Yardi Matrix’s Business Intelligence Manager Doug Ressler commented that:
“Live-work-play environments are highly sought-after post-pandemic, with many, particularly millennials and younger generations, seeking new ways of living that prioritize health, well-being and convenience. Real estate developers have been quick to recognize the demand and are responding with new developments that integrate residential, commercial and recreational spaces.”
When asked how suburbs have changed over the past decade and if Boston suburbs have followed a similar pattern, Alex Krieger, professor emeritus of Urban Design at the Harvard University Graduate School of Design commented that: “The word “suburb” no longer represents a singular image of place, as was the case in the post-WWII period, of a relatively modest-sized house and yard in a subdivision with many just like it, tethered to an arterial or highway at some distance from an older city. There are generations of suburbs, and they are changing in different ways, but an overall emerging sensibility among suburban developers is to incorporate some diversity of dwelling types, some variations in density, along with some commercial, civic or recreational amenities. In other words, suburban development today, both new and in the process of being retrofitted, seeks to become just a bit more townlike, rather than simply a realm of homes.”
For the full report, click here.
