7 Cities Whose Economies Will Thrive in 2024
Written by
Karen Doyle
Edited by
Cynthia Measom
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A lot of factors come into play when deciding where to live. You want to be near your work — although this is less important than it used to be, with lots of people working from home. You may have a particular climate in mind. Or if you have children (or plan to), you might choose a place with good schools.
Another factor to consider is whether the local economy is on an upswing. There are a lot of factors that can go into this, but BestPlaces considered factors like home price appreciation, job and salary growth, amenities, culture and crime rate. Based on these factors, here are five cities where the economy is likely to thrive in 2024.
Bangor, Maine
Home prices are rising in Bangor, while the cost of living is staying relatively flat. And it’s 16% below the national average. Bangor has good schools, and young professionals are moving there for the restaurant scene and outdoor recreation.
Charlottesville, Virginia
Charlottesville has seen high job growth in the past few years, and home prices have appreciated as well. With a moderate climate, Charlottesville boasts a lot of outdoor activities and attractions like golf, hiking trails, vineyards and orchards.
Appleton, Wisconsin
Appleton has a low unemployment rate, and homes appreciated almost 5% in the past year. Nature lovers will want to check out Appleton for its parks and wildlife preserves and the Fox River that bisects the city.
Iowa City, Iowa
Home prices in Iowa City have risen nearly 10% in the past year, but the median price of a home sold during that time remains below $300,000. Iowa City is home to the University of Iowa and also has a thriving art scene.
Ithaca, New York
Ithaca ranks high for small business growth, so entrepreneurs might want to check it out. It also has a beautiful location in the Finger Lakes region of New York and is home to Cornell University and Ithaca College.
Portland, Maine
Portland is known for its high quality of life, with little crime and lots of activities. It has a thriving art and theater scene, and some of the best restaurants in the region. Its bustling waterfront offers scenic views, great dining and entertainment, and outdoor activities.
Ames, Iowa
Homes in Ames appreciated over 7% in the last year, one of the highest rates on the list. It’s a college town, home of Iowa State University, and also a hub for high tech innovation and health care.
Takeaway
This list is not exhaustive. There are many other cities whose economies will do well this year. Whether you’re moving for a job, or because you’re starting a new phase of life, look for a thriving economy in the places you’re considering.Â
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