The Pros and Cons of Urban and Suburban Living
It’s been said that the three most important things in the world of real estate are location, location, and location. Obviously, that’s a bit hyperbolic, but it is important to consider where you’re going to live when looking for a home to buy or rent.
In today’s difficult real estate market, making the right decision is perhaps more crucial than ever. In addition to putting yourself in a position to live in an environment that you love, it can also make a major impact on your financial future.
Every location has its own unique list of pros and cons. With that in mind, if you’re trying to choose between urban living and suburban living, it’s a good idea to carefully evaluate the pros and cons of each.
Whether you’re a first-time homebuyer or you’re selling your home to move to a new locale, these tips can help you make the right decision.
Urban Living
Urban living is great for people who want to live in the heart of a city. While many people think of major cities like New York, Chicago, and Los Angeles, there are plenty of other urban settings that aren’t major metropolitan areas across the United States.
Whether you grew up in a city or you just want to step outside your comfort zone and find out what it’s like to live in an urban environment, there are plenty of pros and cons to consider.
Benefits of Living in the City
One of the biggest benefits of living in the city is that there’s usually something going on.
You’ve probably heard about New York being the “city that never sleeps,” and while every urban locale doesn’t have restaurants and clubs that are open all night, it is true that there are usually more activities that you can easily access.
In addition to the active lifestyle that’s such a hallmark of urban living, you’ll also want to consider the convenience factor.
While most suburban or rural areas are far removed from stores, restaurants, and other necessities (more on that in a moment), most of those amenities are within walking distance in most urban areas.
Urban areas typically have more cultural attractions. While there are undoubtedly some museums and theaters in suburban areas, you’re much more likely to find those things in an urban environment. If you’re someone who appreciates fine art, theater, and other cultural events,
Finally, it’s also normal for there to be more economic and job opportunities in urban areas. Since urban areas tend to have a higher population, many companies choose to operate their businesses there.
This leads to a constantly revolving cycle of people who get jobs with those companies moving to urban areas for work.
Cons of City Living
While the idea of a fast-paced lifestyle may seem appealing, there are some drawbacks associated with living in an urban area.
As we already established, there’s almost something going on in cities, but this also means it’s much harder to get much peace and quiet.
Apartment living is quite common in cities, which means you may end up living in an apartment complex that overlooks a busy street. It also means that you may have to deal with noisy neighbors in the complex.
The increased convenience found in urban settings also comes at a cost. The cost of living is considerably higher in urban areas.
Whether you’re renting an apartment or buying a home, you can expect to pay more each month to live in a city than you’ll pay if you choose a suburban or rural location.
As of 2024, the rental market in America’s major urban locales is astronomically high, as people in New York and Los Angeles are routinely paying more than $2,000 per month for a one-bedroom apartment.
City living is also a bit more isolating than suburban living, which comes as a surprise to many people. It’s easy to assume that if you’re living in an urban area with a higher population, you’ll have access to more people and can therefore make stronger bonds.
That’s not necessarily the case, as the fast-paced lifestyle that’s such a hallmark of these areas often leads to people living more independently.
Rent isn’t the only thing that you may end up paying for if you choose an urban environment. Many apartment complexes charge for parking, so if you like driving yourself around, which isn’t always a necessity in cities, you may end up paying for parking.
Unless you’re prepared to walk most places, which is certainly an option in urban environments, you’ll need to be prepared to pay for public transportation or rideshare services.
Suburban Living
Suburban living is mostly known for being everything that urban living is not. Instead of living in a bustling city, people who choose suburban living typically enjoy a slower pace.
However, just like urban living, suburban living has its own list of pros and cons that you’ll need to think about before committing to making your move.
Benefits of Living in the Suburbs
If you like quiet evenings where you sit on the front porch of your home and enjoy the view, suburban living is perfect for you.
Instead of living near a busy street, living in the suburbs allows you to live in a neighborhood that’s mostly filled with other people who appreciate the same type of lifestyle.
It’s much easier to sleep in on your days off since you won’t be dealing with the chaos of a morning commute right outside your window.
Additionally, if you’re a nature lover, suburban living may be perfect for you. Cities are often referred to as “concrete jungles” because developers have to make the most out of every square foot of land that they can get. This is why you see so much concrete and steel in the city.
Conversely, suburban areas offer beautiful parks and natural scenery. While you may be able to find a park in an urban environment, it’s not likely to be too close to where you live.
The cost of living is also lower in suburban areas.
People who pay rent in urban areas often pay more because they’re in such close proximity to stores, restaurants, and other attractions. In some suburban areas, you can purchase a home for a lower monthly payment than you would have to pay for rent in the nearest urban area.
The lower population of a suburban lifestyle may make you assume that you won’t be able to make friends, but that’s not true at all.
If you choose to live in the suburbs, you’re probably doing so because you don’t necessarily prioritize going “out on the town,” and you’re looking for a safe, quiet place to raise a family. This is also true of the other people who live in your neighborhood, which makes it much easier to make meaningful connections.
Finally, you can expect to enjoy more space, both inside and out. Single-family homes are the most common type of structure in the suburbs, so instead of a one-bedroom apartment, you may find yourself moving into a three-bedroom home.
Additionally, you’ll have a yard instead of living in an apartment above a busy street.
Cons of Suburban Living
If you choose to live in the suburbs, you’ll almost certainly need to buy or lease a vehicle. As we briefly discussed earlier, there aren’t a lot of grocery stores, doctors’ offices, and other necessary services based in the suburbs.
In fact, many local governments designate certain areas for commercial development and other areas as residential, which makes it illegal to open a business in a residential neighborhood.
With this in mind, you’ll need to be prepared to commute to work, school, the store, and virtually everywhere else.
There is also typically less to do in the suburbs. Instead of a fast-paced lifestyle in which you can always find something to occupy your time, people who live in the suburbs often enjoy sitting on the porch with neighbors or simply walking around the neighborhood.
Owning a home in the suburbs may provide more space, but more space also means more maintenance. Unless you can afford to pay for lawn care services, you’ll be responsible for keeping your lawn looking nice.
Additionally, if you purchase a home instead of renting, you’ll have to handle any necessary repairs around your home. If you’re not a “handy” person, this means that you’ll have to hire someone to perform work for you.
Making Your Move
Moving is a major decision that should never be made lightly. Whether you choose urban or suburban living, it’s important that you put yourself in a position to thrive both personally and professionally.