E160: Want a Balanced Life? Look No Further Than These Locations

A good work ethic is a timeless principle, but the all-work-no-play mentality of the Boomer and Gen X generations is going out of style. Millennials and Gen Z find more value in a healthy work/life balance that prioritizes mental health and personal values.

Well, David Sidoni did some research (as he loves to do) and found studies that highlight the best places to live if you’re looking for a balanced and happy life in 2023. 

Here are some topics from today’s discussion:

• The difference between generational preferences
• How inventory is impacting regional affordability
• A look at the housing market in popular cities
• The best places to live in the United States

Episode Highlights:

[01:25] What The Market Could Look Like in These Popular Regions

Overall, home prices aren’t expected to change too much, but individual markets are exhibiting some interesting patterns. The Midwest is showing some promise with home prices, rents, and mortgage rates staying below the national averages. The key? INVENTORY. Inventory is at a much more manageable number in these areas, keeping the costs on the lower end. Some metro areas, including Austin, Tampa, and Miami, are currently priced high, but are poised to drop later in the year. Price appreciation, inventory, listing prices, and weak labor markets are all key factors that contribute to a region’s affordability. 

[7:30] The Best Places to Sustain a Good Work/Life Balance

Ahhh, a healthy work/life balance. The coveted lifestyle. If this is what you’re looking for, then there are some places that are more conducive to this way of life. Looking at mental health, income, remote working prevalence, commute times, and health insurance, Midwest cities DOMINATED the lists for the best balances of these factors. Also, these cities had more affordable housing options for first-time buyers. Hmm… definitely worth thinking about. The top 10 cities had some of the shortest commute times, best air quality, best insurance coverages, a variety of recreation options, great affordability scores, and high mental health rankings. How cool!

 

Resources Mentioned:

 

https://www.zillow.com/research/10-best-metros-first-time-home-buyers-31855/ 

 

https://www.redfin.com/news/housing-market-predictions-2023/ 

 

https://www.rismedia.com/2023/01/23/top-cities-work-life-balance/