Tacoma recently ranked as number 10 on Trulia’s top 10 housing markets to watch in 2016, a list that also included cities like Grand Rapids, MI, Charleston, SC and Austin, TX (see the full report here). Trulia’s rankings were based on a number of different criteria including strong job growth, low vacancy rates and high affordability. I think high affordability was probably key to Tacoma’s inclusion on the list. Though some of our buyer clients that are new to the Tacoma housing market have commented that prices here are high compared to where they’re coming from, the Tacoma housing market clearly remains a great value proposition when compared to Seattle where the median home price is more than twice as high. As the tech industry continues to grow in Seattle, Tacoma will continue to represent a very attractive alternative to call home. Not surprisingly, we’re seeing more and more folks from Seattle making the move to T-Town. I think it’s that demand in particular that led to our inclusion on Trulia’s list of hot market’s to watch in the coming year. To be clear though, Tacoma’s appeal isn’t just about being within commuting distance of Seattle. For those of us lucky enough to live and work in Tacoma, it actually represents a preferable alternative. A vibrant, livable small city with a big metropolitan hub nearby to visit when the mood strikes.
Posted on December 5, 2015 at 10:17 am South Sound Property Group | |