After five contentious rounds, at last... the final matchup. Let's just get right into it.
Denver. The Mile High city is where exploding prosperity is leading to a housing shortage--too many people want to move to Denver and get in on its new tech boom. In a lot of ways Denver is vying to be the next Silicon Valley and is actively growing its innovative sector. It's especially tempting for the young creative class that drives the modern economy, thanks to a formula of cleanliness, infrastructure, and culture. Hell, as one of those pesky Millennials myself I can say... Denver is great! Numbers-wise, it's also super tough to beat thanks to ten percent appreciation, above average wages, and low unemployment.
Dallas. At a time when the rest of the nation was wrapt in the midst of an unrelenting housing boom and prices in cities like LA were hitting triple digit growth, Dallas stayed modest. Starting midway through 2013, the cut in housing supply resulting from the downturn and an economic boom led to Dallas popping up as one of the hottest housing markets in the nation. As of this moment, it's growing steadily above the national average, with exceptionally low unemployment and higher than average wages. In all, the Texan economy is still holding on despite low oil costs thanks to newfound diversity in different sectors from healthcare to manufacturing. And according to Realtor.com, Dallas-Fort Worth is expected to be the second hottest housing market in the nation this spring. Our competitor for the championship with Denver comes in at #4.
Denver vs. Dallas. In this final round, we have the clash of two cities whose real estate markets are on fire, putting pressure on the supply to provide enough housing for everyone trying to move in. What this means for existing homeowners is higher appreciation and shorter wait time when their houses go on the market--and added pressure for buyers to land a home quickly before competition ramps up further. Okay, so stacking up our numbers, it becomes quickly apparent that Denver has the edge. There's only one metric where Dallas wins and that's regionally adjusted salary--your $55,918 in Denver nets you $58,356 in Dallas. You still get a higher median salary in Denver at $62,830 however. Denver has the highest housing appreciation in our tourney and beats Dallas in all three quality of life metrics.
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Winner: Denver. Cut the net down, Denver. You earned it.
| About Nicholas Brown: Based in Los Angeles, CA, Nicholas Brown has been writing since 2008. He holds a Master of Arts in English from Northeastern University. His professional interests include sustainable living, personal finance, real estate and investment trends. He writes for JustRentToOwn.com. |
