by Brandon M. Scott
The allure of the Sun Belt has been undeniable in the last decade. This vast region goes from the coasts of California to the terrains of North Carolina and down to Miami. That became more evident to me on my recent trip to Madrid, Spain. Headed to the lobby I was reading an IG post about HOA’s and how Sun Belt owners are being affected. I get on the elevator, headed down, and on pops another American. We get to chatting and he’s from Nevada. I share the recent the post I saw. His face told the story that HOA communities are being built up all around him and wealthy Californians are driving up the price of homes.
Flying back, I remembered that I had written this article on the sun-soaked belt. I felt these experiences were too serendipitous to put off editing and publishing. Plus, it’s clear that the Sun Belt has become a beacon for many seeking a fresh start and a [brighter] future.
A Decade of Growth
Over the past decade, the Sun Belt has seen a remarkable surge in its popularity. This isn’t about the sunny days or the mild winters; it’s about the promise of growth, both personal and economic. A significant part of the country’s population growth has gravitated towards this region. The sun belt has become a hotspot for real estate investments, business ventures, and cultural mixing. Despite record-breaking temperature in the Sun Belt the areas’ demand is growing, hosting 12 of the 15 fastest-growing citing in the U.S.
Why the Sun Belt Shines Brighter
Several factors contribute to the Sun Belt’s increasing appeal:
- Economic Opportunities: Many businesses are relocating or expanding their operations in the Sun Belt, leading to job creation and economic growth. In fact, a report indicates that between 2012 and 2017, seven out of the top 10 U.S. metro regions with the highest percent growth in real GDP were in the Sun Belt.
- Affordable Living: Compared to other regions, the Sun Belt offers a more affordable cost of living, attracting both young professionals and retirees.
- Cultural Diversity: The influx of people from different backgrounds has enriched the cultural tapestry of the Sun Belt, making it a melting pot of traditions, cuisines, and festivals.
- Retirees: Retirement incomes play a part in where seniors will establish new roots. Besides the cost of living, the taxes and climate are key factors for retirees to the Sun Belt.
The Real Estate Perspective
For real estate enthusiasts and investors, the Sun Belt presents a golden opportunity. The demand for homes, especially in suburban and semi-urban areas, has seen a steady rise. As more people recognize the benefits of living in this region, the population will grow. For example, Mesa, Arizona is #1 in the U.S. with the highest net gain of seniors. Nevada, Texas and Florida took six of the top 10 spots for where retirees are moving. Plus, economic development continues to be a recurring theme.
Whether it’s the modern condos of California, the charming bungalows of North Carolina, of the exotic essence of Miami the Sun Belt has something for everyone.
Brandon Scott is a licensed real estate agent in Washington, DC, Maryland and Virginia. His license hangs with Keller Williams Capital Properties in DC. He’s been involved in the mortgage finance industry for the last 22 years in various fields. You can reach him by email at [email protected]. Subscribe to his YouTube Channel at RealTeaDMV