Since the 1960’s, suburbs represented a better quality of life and a place to raise a family away from the problems of the city. As cities grew more expensive, and the “American Dream” transformed societal standards, many people sought refuge in the suburbs, but the cost of living there remained relatively low for many years. However, this has changed recently, as suburban areas have become more expensive, leading to the increased demand for affordable housing options. 

According to the Pew Research Center, “The pandemic year of 2020 resulted in more people moving out of U.S. cities than moving into them, while suburbs had more people moving in from other U.S. communities than out.” The pandemic sparked the appeal of suburban life as more people wanted out of cities as a way to isolate themselves from COVID-19. Many families found this to be the perfect excuse to relocate and act on permanent movements they’ve been wanting to make. A lot of the time, when people move out of cities, a major factor in the decision is that the cost of living can get quite expensive there. Suburbs were a way for families to escape this financially demanding lifestyle. This puts families in the position where they may want to leave the city but are unable to afford a home elsewhere. These people are stuck in financial hardships, no matter where they live. 

Prices of suburban homes were a lot cheaper pre-COVID-19. According to Harvard University Joint Center for Housing Studies, “Home prices rose at an unprecedented pace after the start of the COVID-19 pandemic, the result of record-low interest rates, the continued aging of millennials into prime homebuying years, and a historically limited supply of housing available for purchase. Zillow, for example, reported that typical home values in the US increased 36 percent between March 2020 and March 2023, from $244,000 to $332,000.” While the average suburban home already costs a lot, with this increase, buying a new home in the suburbs is too expensive for even middle-class families. Another issue contributing to the lack of affordable housing in suburbs is zoning regulations. In many suburban communities, local rules limit the construction of smaller homes, apartment buildings, or multi-family housing. Rent in a city is absurdly high, but buying a house can be just as expensive. The removal of rentable apartments and houses in the suburbs is detrimental to these people who work hard and can barely make ends meet, while feeding the rich with more and keeping the appeal of their sterile-looking “modern” neighborhoods. According to the Urban Institute, “We find that recent housing wealth gains are largely driving median wealth disparities. Because of supply shortages, home prices went up, and rent prices also increased faster than incomes. This resulted in a higher housing cost burden among renters. Left with limited savings after paying for housing, renters have also not benefited from the strong financial market in the past several years, which further fueled the gap.” While it is understandable that prices of everything are rising these days, so it should be expected for home prices to increase, the way these prices are rising is not normal. Are the citizens expected to suffer through this in hopes of randomly gaining a bunch of money to pay for these expenses?

This issue also affects the younger generation greatly. Many millennials and members of Generation Z are entering the housing market for the first time, but these insane prices and limited inventory make it difficult to purchase a home. Even those with stable jobs may struggle to save enough money for a down payment while also dealing with student loans and increased living expenses. Because of this, some young adults are forced to rent longer, live with family, or move to dangerous areas or areas far from their workplaces. Renting in the long term is not a great investment because with the same or now more amount of money, you could be paying each month for something that you actually own. Renting an apartment is like throwing money down the drain after a long time. Not to mention that many rented homes aren’t always in the best condition.

While suburbs were once considered a more affordable escape from city life, these prices are appalling and continuously growing. Without changes to housing policies and increased efforts to build more affordable homes, the dream of suburban home ownership may continue to become more difficult to achieve. Addressing these challenges will be important in ensuring that suburbs remain places where families of different income levels can live and thrive.