Although “surban” might look like like a typo, it’s not. Rather, surban trend is a description of a suburban area that has the feel of an urban area, with one word that is the convenient melding of two. We see it in celebrity couples all the time, as well as words like “guesstimate” and “chillax.”
Surban describes a hot new trend that, according to the Urban Land Institute, will attract the most households in the next decade. A new book by real estate consultants John Burns and Chris Porter, titled Big Shifts Ahead, includes an entire chapter devoted to this growing trend.
Characteristics of these new neighborhoods include:
- Suburban rather than urban locales
- Good schools and low crime
- Shopping and retail areas within walking distance
- Entertainment areas, including restaurants and bars
Real estate location trends are nothing new. The shift to suburbia happened from the 1950s through the 1980s as homeowners opted for an upscale lifestyle over convenience. The past two decades marked the return to urbanization and the renewal of inner cities. Now “suburban downtown” areas are popping up all over the country.
Find out more about this growing movement, and what it might mean for your real estate career, in our feature article, 2018 Real Estate Trends to Watch: ‘Surban’—That Sweet Spot Between City and Suburb.