The the average home sold last year was 4% farther from a city center than in 2011. Redfin staffer Taylor Marr reports on Americans choosing the suburbs, which was further demonstrated by a recent survey which showed that fewer than 1 in 12 Americans want to live in a central city location. Still, there are those who want to live in the city. Marr reports on a growing gap between city haves and have-nots. Increasingly, downtowns are becoming home to a whiter and more-educated population, with boomers and millennials showing the greatest participation in this change.
He postulates this:
A better explanation for why people are moving farther out is the scarcity of homes for sale and rising costs, especially in urban cores. Zoning is also partly to blame. Residents of Boston, for example, pay more than three times as much per square foot in order to live in the city center than they do in the metro area as a whole.