According to the recent study by Realtor, downtown Miami is one of the top booming towns across America. It was reported that the city is at the number four spot with a projected five-year household growth of about 14.9 percent.
Miami Curbed reports that the site indicated the cities with some of the strongest growth in jobs, housing and household formation. It was reported that the top three locations are Power Ranch, Gilbert, AZ, Historic Cultural Center, Los Angeles, CA and downtown Dallas.
The site said that the markets that they chose are the areas that are currently experiencing the most balanced economic growth. These are the areas that are seeing the job creation that leads to the country's greatest growth within the households. These areas are also seeing more construction projects which are also needed to enable the forecasted growth, as what the site's chief economist, Jonathan Smoke said.
It was said that each of the areas listed has experienced household growth between one and seven times the average growth, and job growth between one and five times the average. Most importantly, each area on the list has a projected growth in the household between 9 and 19 percent over the next five years.
According to the report, Miami alone is a hot market booming in the night activities and housing. Compared with South Beach, Miami's downtown, midtown and port areas are rarely used for the legendary party scene.
In the recent years, it was found out that the urban development projects like Miami World Center have brought new residents to the area. With the increasing number of residents, the area is now booming with businesses and nightlife. These are the things millennial professionals are looking for in a location aside from shopping and restaurants.
