flexiblefullpage
billboard
interstitial1
catfish1
Currently Reading

In many cities, downtown housing comes with a hefty premium

Codes and Standards

In many cities, downtown housing comes with a hefty premium

Urban core living costs hundreds of thousands more in largest U.S. cities.


By Peter Fabris, Contributing Editor | May 13, 2019

Courtesy Pixabay

Americans who live in the downtowns of most large cities are paying a big premium for their homes.

Now 10 years after the worst financial crisis in living memory, Property Shark analyzed a decades’ worth of home prices in 34 of the largest cities in the country plus Manhattan and Brooklyn. The real estate blog compared median sale prices in these cities to that of their downtowns since the real estate crash.

In Chicago, urban core dwellers pay $675,000 more than the city median, the heftiest premium in the country. In Philadelphia, Boston, and Manhattan, the downtown premium is well over $300,000. Buying a home in Charlotte’s downtown costs an additional $280,000.

There are exceptions to the downtown premium. Most of California’s downtowns are cheaper than other parts of the city. Long Beach, Bakersfield, and San Jose’s urban cores are some of the most affordable. Los Angeles is the largest U.S. city where the downtown median is lower than in the rest of the city.

Related Stories

| Jan 8, 2015

Gundersen Health System says it is nation’s first net-zero healthcare network

Gundersen Health System, a network of hospitals, medical clinics, and nursing homes in Wisconsin, announced that it is producing more energy than it consumes, making it the first net-zero energy health system in the U.S.

| Jan 8, 2015

Construction industry could be hurt by non-renewal of terrorism insurance bill

Insurance industry experts say without federal terrorism reinsurance in place for 2015, resulting canceled property/casualty insurance coverage and market chaos could be disruptive to the economy.

| Jan 2, 2015

Ohio’s Licking County to hire construction stormwater runoff specialist

Formed to focus on agriculture, the Licking County (Ohio) Water and Soil Conservation District has branched out to oversee construction sites.

| Jan 2, 2015

Standards groups join forces to spur more sustainable parking facility design

The International Parking Institute, Green Parking Council, and Green Building Certification Institute have joined forces to promote the design of more sustainable parking facilities.

| Dec 23, 2014

EPA okays coal ash recycling in construction materials

The Environmental Protection Agency ruled that the use of coal ash produced in power plants can continue to be incorporated into construction materials.

| Dec 23, 2014

Dunkin’ Donuts launches green building certification for its restaurants

Dunkin Donuts has launched a green building certification program to help franchisees build sustainable, energy-efficient restaurants.

| Dec 23, 2014

EPA releases WaterSense draft specification for flushometer-valve toilets

The U.S. Environmental Protection Agency's WaterSense program has released a draft specification for water-efficient flushometer-valve toilets.

| Dec 23, 2014

American Iron and Steel Institute publishes design guide for new profiled steel diaphragm panels standard

The American Iron and Steel Institute (AISI) published AISI D310-14, “Design Examples for the Design of Profiled Steel Diaphragm Panels Based on AISI S310-13.”

| Dec 18, 2014

New federal regulations impact construction firms doing business with Uncle Sam

Federal contractors may be subject to several new rules in 2015 that impact how they are selected for contracts and how they do business with the federal government.

| Dec 18, 2014

ASHRAE/IES energy standard could become more applicable for global use

A proposed addendum to ANSI/ASHRAE/IES Standard 90.1-2013, Energy Standard for Buildings Except Low-Rise Residential Buildings would make the standard more applicable for use around the world.

boombox1
boombox2
native1

More In Category




halfpage1

Most Popular Content

  1. 2021 Giants 400 Report
  2. Top 150 Architecture Firms for 2019
  3. 13 projects that represent the future of affordable housing
  4. Sagrada Familia completion date pushed back due to coronavirus
  5. Top 160 Architecture Firms 2021