Arabi #6 Fastest Growing Suburb in the USA
Published on July 23, 2018
Realtor.com has named Arabi the #6 fastest growing suburb in America, out of more than 7,000:
#6) Arabi, LA
ZIP code: 70032
Metropolitan area: New Orleans, LA
Median home list price: $249,700
Three-year price appreciation: 86.7%
Three-year home listing increase: 76.3%
“Just about 20 minutes from downtown New Orleans, Arabi is attracting both middle-class families and single, female buyers… They’re coming for the new homes—usually cottages, with high ceilings and porches. Or they want the town’s remaining historical homes, which often date back to the early 20th century and were made out of salvaged wood from ships.”
To find the country’s fastest-growing suburbs, Realtor.com analyzed more than 7,000 ZIP codes, focusing on the ones outside a city’s limits and within an hour’s commute in rush hour to the center of the nearest urban area. They calculated home appreciation over the last three years and the increase in the number of home listings in that same time frame. The website also looked at population growth. Finally, Realtor.com factored in the share of new construction at the county level.
You can read the entire article here.