It’s no secret that certain metro areas are in hot demand from home buyers right now, but demand for the suburban life is also picking up steam.
Suburbs took a hit during the housing crisis and Great Recession, but many are experiencing a solid economic recovery and improvements to school systems, making some areas standouts across the country, according to new data Coldwell Banker Real Estate.
The real estate company recently released its list of “Top Booming Suburbs in America” after rating 1,500 communities based on their employment rate compared to the national level, as well as their proximity to grocery stores, banks and other amenities. The neighborhoods also had to be close to good schools and have a safe and easy commute to work.
Washington state has the most suburbs in the top 10, followed by Utah. Suburbs in Florida, Louisiana and Tennessee also made the top 10. With that in mind, here’s a look at Coldwell’s top five booming American suburbs.
1Cottage Lake, Washington
Located about 20 miles outside of downtown Seattle , Cottage Lake ranked No. 1 on the list largely because of its proximity to jobs and strong labor market. The area’s growth in employment year-over-year stands at 3.5%. Not only does Cottage Lake have its fair share of IT, finance, insurance, medical and biotech companies, but it’s also close to a plethora of companies located in downtown Seattle.
This suburb will also appeal to people who like to live on a lake and care about the environment and a good glass of wine. According to Coldwell, Cottage Lake promotes sustainability and is home to wine making and agriculture industries.
If you are looking for a fast-growing suburb then you need not look further than Prairieville, La., which came in at No. 2 in the rankings. According to the real estate firm, this suburban neighborhood is one of the fastest growing in the state, and home to more than 25 specialty chemical and petrochemical plants. It doesn’t hurt that this suburb, which is a 30-minute commute to Baton Rouge/Ascension County, has a year-over-year employment growth rate of 2.7%. Because of the plants and reciprocal industries, its resident labor force specializes in manufacturing, education, health and social services.
3Fruit Cove, Florida
Just a 30-minute commute to Jacksonville/St. Johns County, Fruit Cove is an ideal place for people who want to live in a suburb and want a job. Fruit Cove boasts a 3.6% growth rate in employment, higher than any of the other top five neighborhoods and is home to a plethora of small and large businesses and specialty shops.
This unincorporated suburban neighborhood has a diverse amount of industries including finance, health care, technical and construction. Even if it has big city attributes and aspirations, residents say the small town feel is what drew them to the area.
This fairly new suburb, incorporated in 1999, screams high end thanks to its several upscale communities, local symphony orchestra, three private golf courses and a public beach all within five miles.
Jobs are focused in the technology and aerospace industries, and this suburb saw 3.5% growth in employment year-over year.
Sammamish is also an easy commute, just 30 minutes from Seattle-Tacoma-Bellevue/King County. And expect friendly neighbors: Sammamish was bestowed the Friendliest Town in the United States by Forbes in 2012.
5Mercer Island, Washington
Rounding out the top five is another Seattle suburb on a lake. Mercer Island is not only the most populated island on a lake within the U.S., but it’s also the 50th largest city in Washington. Mercer Island is connected to Seattle by the second longest floating bridge in the entire world, making the commute a 20-minute ride. Professional services is the leading industry for Mercer Island, which saw employment grow 3.5% year-over year. Other popular industries on the island include finance, retail and education.