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By Susanne Dwyer

Culturally unsheltered and experience-happy, hipsters have massed in markets that meet their preference for “unconventional.” These hubs typically have an array of eateries, a hole-in-the-wall on every corner, and a lively music scene. (You probably never heard of it.)

Hipsters also live, however, in some of the hottest housing markets in the nation, according to recent research by realtor.com® and Yelp—markets with mainstream appeal, and demand to match.

“Although their opinions about their music and fashion may be out of the norm, when it comes to real estate, hipsters have a knack for getting it right,” says Javier Vivas, director of Economic Research for realtor.com. “Based on our research, there’s clear evidence that hipster popularity in markets like Austin, Texas, has led to mainstream interest and higher home prices over time. Whether it’s the farm-to-table restaurants or urban renewal projects that were already underway, a concentration of hipsters seems to be an indicator of a hot housing market.”

The No. 1 hipster housing market, the research reveals, is Columbus, Ohio—43202, or the Clintonville community, specifically. The neighborhood in the capital of The Buckeye State has brick and mortars that cater to hipsters in excess, with many businesses outside the norm or “underground.”

“Yelpers are great at identifying up-and-coming areas and businesses, which allows us to predict trends as well as uncover detailed data on what’s happening in local economies right now,” says Carl Bialik, data editor at Yelp. “While ‘hipster’ is something of a cliché, it turns out to be a useful term to uncover the types of businesses and attributes we often associate with ‘cool’ hunters, such as visually appealing interiors and less touristy parts of town.”

Hipsters, still, are mostly out West: in California, as well as Seattle (the original hipster hub), the research shows. The Haight in San Francisco (94117), Long Beach (90814) and North Park in San Diego (92104) all rank highly for hipsters, as well as Capitol Hill in Seattle (98122) and Colorado Springs in Colorado (80903).

Across the top 10 hipster markets, millennials comprise an average 22 percent of the population, and millennial realtor.com searches for homes are 1.2 times more than the existing millennial population, suggesting demand in the segment. Homes sell in an average 30 days, and unemployment is between 2.7 and 4.6 percent.

The complete top 10:

1. Columbus, Ohio (43202)

2. Seattle, Wash. (98122)

3. San Diego, Calif. (92104)

4. Fort Wayne, Ind. (46802)

5. Rochester, N.Y. (14620)

6. San Francisco, Calif. (94117)

7. Long Beach, Calif. (90814)

8. Louisville, Ky. (40217)

9. Grand Rapids, Mich. (49506)

10. Colorado Springs, Colo. (80903)
    

For more information, please visit www.realtor.com.

Suzanne De Vita is RISMedia’s online news editor. Email her your real estate news ideas at sdevita@rismedia.com.

For the latest real estate news and trends, bookmark RISMedia.com.

The post Go Figure: Hipsters Are in Mainstream Markets appeared first on RISMedia.

…read more

From:: Real Estate News

By Susanne Dwyer

Culturally unsheltered and experience-happy, hipsters have massed in markets that meet their preference for “unconventional.” These hubs typically have an array of eateries, a hole-in-the-wall on every corner, and a lively music scene. (You probably never heard of it.)

Hipsters also live, however, in some of the hottest housing markets in the nation, according to recent research by realtor.com® and Yelp—markets with mainstream appeal, and demand to match.

“Although their opinions about their music and fashion may be out of the norm, when it comes to real estate, hipsters have a knack for getting it right,” says Javier Vivas, director of Economic Research for realtor.com. “Based on our research, there’s clear evidence that hipster popularity in markets like Austin, Texas, has led to mainstream interest and higher home prices over time. Whether it’s the farm-to-table restaurants or urban renewal projects that were already underway, a concentration of hipsters seems to be an indicator of a hot housing market.”

The No. 1 hipster housing market, the research reveals, is Columbus, Ohio—43202, or the Clintonville community, specifically. The neighborhood in the capital of The Buckeye State has brick and mortars that cater to hipsters in excess, with many businesses outside the norm or “underground.”

“Yelpers are great at identifying up-and-coming areas and businesses, which allows us to predict trends as well as uncover detailed data on what’s happening in local economies right now,” says Carl Bialik, data editor at Yelp. “While ‘hipster’ is something of a cliché, it turns out to be a useful term to uncover the types of businesses and attributes we often associate with ‘cool’ hunters, such as visually appealing interiors and less touristy parts of town.”

Hipsters, still, are mostly out West: in California, as well as Seattle (the original hipster hub), the research shows. The Haight in San Francisco (94117), Long Beach (90814) and North Park in San Diego (92104) all rank highly for hipsters, as well as Capitol Hill in Seattle (98122) and Colorado Springs in Colorado (80903).

Across the top 10 hipster markets, millennials comprise an average 22 percent of the population, and millennial realtor.com searches for homes are 1.2 times more than the existing millennial population, suggesting demand in the segment. Homes sell in an average 30 days, and unemployment is between 2.7 and 4.6 percent.

The complete top 10:

1. Columbus, Ohio (43202)

2. Seattle, Wash. (98122)

3. San Diego, Calif. (92104)

4. Fort Wayne, Ind. (46802)

5. Rochester, N.Y. (14620)

6. San Francisco, Calif. (94117)

7. Long Beach, Calif. (90814)

8. Louisville, Ky. (40217)

9. Grand Rapids, Mich. (49506)

10. Colorado Springs, Colo. (80903)
    

For more information, please visit www.realtor.com.

Suzanne De Vita is RISMedia’s online news editor. Email her your real estate news ideas at sdevita@rismedia.com.

For the latest real estate news and trends, bookmark RISMedia.com.

The post Go Figure: Hipsters Are in Mainstream Markets appeared first on RISMedia.

…read more

From:: Finance and Economy

By Susanne Dwyer

Cities and municipalities across the U.S. are scrambling to put together their portfolios. Amazon, the world’s largest online retailer, is looking for a second headquarters. Those up for consideration will include metropolitan areas in North America with at least 1 million people, a stable business climate, urban or suburban locations with the potential to attract and retain strong technical talent, and communities that think big and creatively.

What will it take to win the affection of Amazon and bring billions of dollars to the local economy? While many would love to call their city a home for Amazon, some locations make more sense than others, especially when it comes to finding the right people for the 50,000 jobs the behemoth merchandiser intends to create.

Realtors Property Resource® (RPR) specializes in attribute-based site selection by using datasets such as public records, traffic counts, business points of interest, demographic and psychographic insights, and consumer spending data. As the nation’s largest real estate data platform, offered exclusively to REALTORS®, RPR can easily identify where a client’s ideal consumer base lives through the library of data found within Esri, an RPR partner and leader in GIS software.

“A deep dive into the study of people and their patterns produces a meaningful analysis taking the past, current and future into account, reducing risk and ensuring site selection with the ‘right’ talent,” says Emily Line, vice president of Commercial Services for RPR. “Retaining and recruiting employees is far more costly in the grand scheme of things. Price per square foot for the brick and mortar will likely be less of a factor as Amazon selects their second home.”

The team at RPR set out to analyze the “people data” and insights in support of three top contenders for the new headquarters. Let’s see how they stack up.

Chicago, Ill.

• 3 percent (395,310) have Bachelor’s degrees
• 8 percent (274,250) have Graduate degrees
• 1% percent (170,622) have a background in Technology, Engineering or Information Sciences
• Residents’ income is close to the U.S. average (average household income $74,367)
• Residents spend a large portion of their wages on rent (average rent $1,340), clothes and the latest technology
• Unemployment rate is slightly above 5 percent
• Residents live close to their jobs and usually walk, bike, take the train or grab a taxi to get around the city
• Residents are highly mobile, well-educated, live alone or with a roommate
• Residents prefer environmentally safe products
  

Additional Insights
One of the fastest-growing segments, the popularity of urban life continues to increase for those in their late 20s and 30s. This segment is willing to take risks and work long hours to get to the top of their profession. They become well-informed before purchasing the newest technology. Image is important to these consumers.

Austin, Texas

• 6 percent (171,900) have Bachelor’s degrees
• 18 percent (104,554) have Graduate degrees
• 4 percent (69,397) have a background in Technology, Engineering or Information Sciences
• Average household income is $81,998
• Average monthly rent is $920
• Labor force participation rate is exceptionally high at 75.4 percent
• Unemployment is low at 3 percent
• Almost one in five residents move each year
• Close to half of all householders are under …read more

  From:: Real Estate News

By Susanne Dwyer

Cities and municipalities across the U.S. are scrambling to put together their portfolios. Amazon, the world’s largest online retailer, is looking for a second headquarters. Those up for consideration will include metropolitan areas in North America with at least 1 million people, a stable business climate, urban or suburban locations with the potential to attract and retain strong technical talent, and communities that think big and creatively.

What will it take to win the affection of Amazon and bring billions of dollars to the local economy? While many would love to call their city a home for Amazon, some locations make more sense than others, especially when it comes to finding the right people for the 50,000 jobs the behemoth merchandiser intends to create.

Realtors Property Resource® (RPR) specializes in attribute-based site selection by using datasets such as public records, traffic counts, business points of interest, demographic and psychographic insights, and consumer spending data. As the nation’s largest real estate data platform, offered exclusively to REALTORS®, RPR can easily identify where a client’s ideal consumer base lives through the library of data found within Esri, an RPR partner and leader in GIS software.

“A deep dive into the study of people and their patterns produces a meaningful analysis taking the past, current and future into account, reducing risk and ensuring site selection with the ‘right’ talent,” says Emily Line, vice president of Commercial Services for RPR. “Retaining and recruiting employees is far more costly in the grand scheme of things. Price per square foot for the brick and mortar will likely be less of a factor as Amazon selects their second home.”

The team at RPR set out to analyze the “people data” and insights in support of three top contenders for the new headquarters. Let’s see how they stack up.

Chicago, Ill.

• 3 percent (395,310) have Bachelor’s degrees
• 8 percent (274,250) have Graduate degrees
• 1% percent (170,622) have a background in Technology, Engineering or Information Sciences
• Residents’ income is close to the U.S. average (average household income $74,367)
• Residents spend a large portion of their wages on rent (average rent $1,340), clothes and the latest technology
• Unemployment rate is slightly above 5 percent
• Residents live close to their jobs and usually walk, bike, take the train or grab a taxi to get around the city
• Residents are highly mobile, well-educated, live alone or with a roommate
• Residents prefer environmentally safe products
  

Additional Insights
One of the fastest-growing segments, the popularity of urban life continues to increase for those in their late 20s and 30s. This segment is willing to take risks and work long hours to get to the top of their profession. They become well-informed before purchasing the newest technology. Image is important to these consumers.

Austin, Texas

• 6 percent (171,900) have Bachelor’s degrees
• 18 percent (104,554) have Graduate degrees
• 4 percent (69,397) have a background in Technology, Engineering or Information Sciences
• Average household income is $81,998
• Average monthly rent is $920
• Labor force participation rate is exceptionally high at 75.4 percent
• Unemployment is low at 3 percent
• Almost one in five residents move each year
• Close to half of all householders are under …read more

  From:: Finance and Economy