During the COVID-19 pandemic, the housing market shifted towards people wanting to live in larger homes and moving from urban areas to suburban and rural neighborhoods.
American Home Shield reviewed 506,374 listings of houses and condos for sale from Zillow to determine the results of its 2022 American Home Size Index, which showcased the cities in the United States with the biggest homes.
According to Census Bureau data, some key findings from the index showed that the average new homes in the U.S. are now more than 1,000 square feet bigger than in 1973.
The index also stated that fast-growing tech hubs in the Rocky Mountains have the largest homes, and high-density coastal cities have the most expensive real estate, which is what’s driving people to look for cheaper homes elsewhere.
Average home size: 2,760 square feet
According to the American Home Shield index, employment in Colorado Springs grew 5.3% from 2017 to 2021. The new, high-income workers created a demand for larger homes.
With employment growth shifting to smaller, suburban cities and the focus on affordable housing and lower living costs, it makes sense why the Colorado city had a demand for newer, larger homes.
- Colorado Springs, CO
- Aurora, CO
- Raleigh, NC
- Henderson, NV
- Fort Worth, TX
- Nashville, TN
- Austin, TX
- Albuquerque, NM
- Omaha, NE
- Charlotte, NC
The city that ranked in second place for having the biggest homes in the United States was Aurora, Colorado. The average home size in the Colorado city is 2,451 square feet. According to the U.S. Bureau of Labor Statistics, from 2017 to 2021, employment grew in Aurora by 5.7%, and that influx of new workers created a demand for new housing.
The North Carolina city of Raleigh ranked in the third spot for the biggest homes in the United States. According to the index, Raleigh is yet another example of a fast-growing, well-educated area that has allowed wealth to flourish in the midsize city and created a demand for bigger homes. The average home in Raleigh comes in at 2,366 square feet.
(With Inputs from CNBC)
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