The Mortgage Bankers Association recently published a report, 7 Key Findings about American Neighborhoods, which offered an introduction to a series on the segmentation of neighborhoods by the type and density of housing within the national real estate market.
They concluded that there are 10 basic housing market types in the United States. They are broken down into:
Urban housing markets:
• Apartment Tower Communities
• High Density Downtowns
• Eclectic Urban Markets
• City Neighborhoods
Suburban housing markets:
• Apartment Suburbs
• Eclectic Suburban Markets
• Suburban Communities
• Off the Beaten Path
Exurban/Rural housing markets:
• Exurban
• Rural
The findings offered a number of highlights of their analysis, specifically, that identify where and how Americans live:
1. Almost one-half of U.S. households live in the suburbs, more than in either urban or exurban / rural communities
2. More households live in suburbs with a mix of housing types than in suburbs with predominately single-family housing
3. Urban housing markets tend to be diverse — in terms of housing type, race, ethnicity and more
4. Owning and renting are both widespread, and each more common in certain types of markets
5. Apartment Tower markets are different than other dense urban areas
6. Given its size, there are more Exurban and Off the Beaten Path households in the New York metro area than in any other
7. Millennials are drawn to dense urban areas, but are a large part of all housing markets; Retirees are less common in urban areas
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