What factors influence where you want to live?
Lifestyle, proximity to work, entertainment, restaurants, green space, cost and transportation are several of the many factors that influence where you call home. After visiting Madison, Chicago, Denver and San Francisco, it became apparent that location is one of the highest contributing factors in the search for an urban home.
Location is so important that 38% consider their neighborhood to be part of their home. [13] Lines between homes and public spaces are becoming blurred; more and more people are feeling at home outside of their actual four walls.
We asked the VDTA offices to identify the 5 most important factors in a neighborhood when looking for a new home as seen in the “Most Important Factors in a Neighborhood” chart. Public transportation was reported as being the most important factor when looking for a home, followed by cost of living, crime rate, and proximity to work.
Many are even willing to give up space for location. While touring several urban homes in Denver, the studios and 2 bedrooms were the first to lease due to residents’ willingness to share or have a smaller unit in order to live in the desired location or building.
Location is the leading factor influencing people’s decision to move into small units, according to a new Urban Land Institute report, “The Macro View of Micro Units”, based on an analysis of 400 apartment communities in 35 metros and responses from 3,500 renters. The study found that access to a grocery store ranks as the top priority among people who said they were considering a switch to micro units. [40]
The context surrounding your home in a city has the ability to impact how your time is spent; whether that is commuting to work, walking down the street to the grocery store, or spending time in the park. What is around where you live becomes increasingly important for a healthy work/life balance.
How will location play a role in urban living for future generations?
Location is one of the 13 Principles of Home that seems to be universal. Accessibility, especially in an urban setting, will always influence where people want to call home.
Research shows that “generation z”, defined as anyone born between 1995 and 2012, will heavily rely on public transportation due to decreased interest in having a car. This means that the proximity of public transportation to urban living is extremely important. [38]
Most Important Factors in a Neighborhood
Resources
[13] What is the Home of the Future anyway? — Thomas Ricker
[40] 5 intriguing trends to track in the multifamily housing game — John Caulfield
[38] The Generation Z world: Shifts in urban design, architecture and the corporate workplace — Celine M. Larkin, Melissa Jancourt and William H. Hendrix
