{"id":424,"date":"2025-03-10T14:04:01","date_gmt":"2025-03-10T18:04:01","guid":{"rendered":"https:\/\/blog.sothebysrealty.com\/2025\/03\/10\/the-growing-draw-of-midwestern-cities\/"},"modified":"2025-03-10T14:04:01","modified_gmt":"2025-03-10T18:04:01","slug":"the-growing-draw-of-midwestern-cities","status":"publish","type":"post","link":"https:\/\/www.sothebysrealty.com\/extraordinary-living-blog\/the-growing-draw-of-midwestern-cities\/","title":{"rendered":"The Growing Draw Of Midwestern Cities"},"content":{"rendered":"

Demand for Rust Belt real estate is booming as people look for affordable luxury alongside a stable pace of life and work<\/span><\/h2>\n

\"\"<\/a>St Louis, Missouri, one of several Midwestern cities experiencing a housing boom. Photograph: Brittney Butler\/Unsplash.<\/span><\/p>\n

The Midwest has seen major booms in its housing markets for several years now. Midwestern cities have consistently ranked among the best places to live in the U.S. and places such as Cincinnati, Ohio; Milwaukee, Wisconsin; and St. Louis, Missouri, are experiencing large demand for luxury real estate with homes selling at a much faster rate than the national average. A <\/span>list<\/span><\/a> published by Realtor.com in August 2024 placed three Midwestern ZIP codes among 2024\u2019s top 10 areas for real estate sales, where properties took an average of 13 days to sell\u2014far quicker than the national average of 42.\u00a0<\/span><\/p>\n

Paul Handle, managing director of Mahler Sotheby\u2019s International Realty based in Milwaukee, says that his region is currently undergoing a \u201crenaissance of sorts\u201d in terms of real estate. \u201cLuxury buyers are increasingly looking at the Midwest because of the incredible value they receive compared with coastal cities. They can purchase expansive properties, often with unique architectural details or waterfront access, for a fraction of the cost they would pay in New York, Los Angeles or Miami. Beyond price, there\u2019s the appeal of a slower pace of life, lower property taxes and more predictable environmental conditions.\u201d\u00a0<\/span><\/p>\n

\"\"<\/a>Milwaukee, Wisconsin<\/span><\/a> | <\/span>Mahler Sotheby\u2019s International Realty<\/span><\/a><\/p>\n

Midwestern states are also drawing a number of homebuyers who want to return to their roots. According to a <\/span>report<\/span><\/a> published by the National Association of Realtors in November 2024, 18% of homebuyers surveyed had moved back to an area in which they previously lived, and this was most common among those moving to the Midwest. For families, Midwestern cities offer excellent schools and an abundance of universities, as well as a pleasant climate for outdoor living.\u00a0<\/span><\/p>\n

Meanwhile, for those in the early and middle stages of their lives and careers, economic opportunities remain strong. A <\/span>2023 Forbes article<\/span><\/a> noted that five of the top states for starting a business that year were Midwestern\u2014Indiana, North Dakota, South Dakota, Illinois and Ohio. (Following this trend, Sotheby\u2019s International Realty opened its first office in South Dakota in December 2024.) With a particular focus on the tech sector, the article drew a direct correlation between the relatively lower cost of living in these states and their desirability among those with the talent and ability to start new companies. It also pointed out that the local talent pool in these areas is bolstered by the presence of some of the country\u2019s best universities.<\/span><\/p>\n

\"\"<\/a><\/span>Maple Grove, Minnesota<\/span><\/a> | <\/span>Lakes Sotheby\u2019s International Realty<\/span><\/a><\/p>\n

Rural Midwestern communities have seen a spike in population since 2020, when the pandemic shifted many people to remote working, but urban Midwestern locales have seen booms in both their populations and the job vacancies that predate the pandemic and are continuing to rise. In addition to population and jobs growth, the cities identified in this study\u2014Cincinnati, Ohio; Columbus, Ohio; Des Moines, Iowa; Fargo, North Dakota; Grand Rapids, Michigan; Indianapolis, Indiana; Kansas City, Missouri; Lexington, Kentucky; Madison, Wisconsin; and Minneapolis\u2013Saint Paul, Minnesota\u2014also fared better in terms of GDP per capita and college-degree attainment.\u00a0<\/span><\/p>\n

\u201cFor those seeking cities with fewer of the challenges that come with larger metropolitan areas, several other exceptional options are available,\u201d says Kathe Barge, associate broker and global real estate advisor, Piatt Sotheby\u2019s International Realty in Pittsburgh, Pennsylvania. Speaking about her native Pittsburgh, Pennsylvania, Barge adds that \u201cboth the city and its surrounding suburbs are seeing a rise in high-end condominium developments and upscale residential communities, offering prospective buyers an appealing mix of historical charm and modern convenience. These new developments are elevating Pittsburgh\u2019s reputation as a destination for luxury living, with a growing number of options for those seeking contemporary luxury amid the city\u2019s rich cultural landscape.\u201d\u00a0<\/span><\/p>\n

\"\"<\/a>Milwaukee, Wisconsin <\/span><\/a>| <\/span>Mahler Sotheby\u2019s International Realty<\/span><\/a><\/p>\n

Barge says many of the newcomers she sees fall into three categories. The first is returning Millennials\u2014those born between the early 1980s and the late 1990s\u2014who were raised in the region, spent time elsewhere and are seeking a more manageable pace of life and more substantive real estate opportunities. Then there are people from the West Coast who are attracted by the region\u2019s growing tech scene, affordable real estate, good schools and lower childcare costs. Finally, there are returning retirees, who left the region for work and are now \u201cseeking the comfort of familiar surroundings, an affordable lifestyle and the benefit of not paying state income tax on retirement earnings.\u201d\u00a0<\/span><\/p>\n

It is clear that the Midwest\u2019s luxury market isn\u2019t just about the cost of property; it is also about investing in a region poised for continued transformation and success. These communities allow their residents to look ahead toward carving out a stable future, with room to grow and a high-end lifestyle.\u00a0<\/span><\/p>\n

Thinking of moving outside the U.S.? Find out <\/i><\/span><\/a>where the world’s wealthiest want to live<\/span><\/i><\/a><\/i><\/p>\n

\"\"<\/a><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

Demand for Rust Belt real estate is booming as people look for affordable luxury alongside a stable pace of life and work St Louis, Missouri, one of several Midwestern cities experiencing a housing boom. Photograph: Brittney Butler\/Unsplash. The Midwest has seen major booms in its housing markets for several years now. Midwestern cities have consistently […]<\/p>\n","protected":false},"author":232770368,"featured_media":343575,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1399,1403],"tags":[1465,1512],"class_list":["post-424","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-home-and-design","category-market-insights","tag-minnesota","tag-wisconsin"],"jetpack_featured_media_url":"https:\/\/www.sothebysrealty.com\/extraordinary-living-blog\/wp-content\/uploads\/2025\/03\/header-1-1.jpg","jetpack_likes_enabled":false,"jetpack_shortlink":"https:\/\/wp.me\/pf4gbL-6Q","jetpack-related-posts":[{"id":427,"url":"https:\/\/www.sothebysrealty.com\/extraordinary-living-blog\/luxury-real-estate-headlines-second-week-in-march-2025\/","url_meta":{"origin":424,"position":0},"title":"Luxury Real Estate Headlines, Second Week in March, 2025","author":"Procurement Admin","date":"March 14, 2025","format":false,"excerpt":"Homes in the News London, England | United Kingdom Sotheby's International Realty An Award-Winning Modernist Home Lists in London for $11.6 Million \u2013 Robb Report The Little Venice townhouse's style influences include Frank Sinatra and French architect Charlotte Perriand. 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Bing Crosby's French Chateau-Style California Mansion Lists for $40 Million \u2013 The\u00a0Wall Street Journal Cairo cool: the renaissance of Downtown \u2013 Financial Times A Jackson Hole\u2026","rel":"","context":"In "Brand News"","block_context":{"text":"Brand News","link":"https:\/\/www.sothebysrealty.com\/extraordinary-living-blog\/category\/brand-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.sothebysrealty.com\/extraordinary-living-blog\/wp-content\/uploads\/2025\/02\/2-7.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.sothebysrealty.com\/extraordinary-living-blog\/wp-content\/uploads\/2025\/02\/2-7.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.sothebysrealty.com\/extraordinary-living-blog\/wp-content\/uploads\/2025\/02\/2-7.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.sothebysrealty.com\/extraordinary-living-blog\/wp-content\/uploads\/2025\/02\/2-7.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.sothebysrealty.com\/extraordinary-living-blog\/wp-content\/uploads\/2025\/02\/2-7.jpg?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/www.sothebysrealty.com\/extraordinary-living-blog\/wp-content\/uploads\/2025\/02\/2-7.jpg?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":344224,"url":"https:\/\/www.sothebysrealty.com\/extraordinary-living-blog\/luxury-real-estate-headlines-first-week-in-july-2025\/","url_meta":{"origin":424,"position":2},"title":"Luxury Real Estate Headlines: First Week in July, 2025","author":"Kate Marburger","date":"July 5, 2025","format":false,"excerpt":"Homes in the News Los Angeles, California\u00a0| Sotheby's International Realty \u2013 Beverly Hills Brokerage Robb Report Heidi Klum Can Be Your Neighbor at This $25 Million Ultra-Modern L.A. 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