“While several of the cities highlighted in this report might fly under the radar, many are experiencing booming local economies ... complete with a healthy dose of new job prospects and strong home affordability."
Glassdoor, a job-review and insight website, recently released its “Best Cities for Jobs in 2018” list. In this case, the survey revealed secondary markets made a strong showing.
The list weighs how easy it is to get a job, the area’s affordability, and the rate of employee satisfaction. Although midsize cities may be overshadowed by their major metropolitan neighbors, they actually offer far more to residents.
Amanda Stansell is an Economic Research Analyst at Glassdoor. “While several of the cities highlighted in this report might fly under the radar, many are experiencing booming local economies … complete with a healthy dose of new job prospects and strong home affordability.”
Several cities considered “tech and finance hubs” did not appear on the list due to high costs of living. For example, New York City and San Jose, California were both excluded.
The Top 5 Cities for Jobs
Pittsburgh employees have a median base salary of $46,500 and a 3.2 out of 5 job satisfaction rating. Additionally, median home values hover around $141,000.
St. Louis, Missouri
St. Louis employees experience high satisfaction with their city, which scored a 4.3 out of 5. In addition, St. Louis has a median base salary of $48,000, and home values tend to be about $161,400.
With job satisfaction rating a 3.4 and median home values under $153,000, Indianapolis employees’ base salary of $45,000 stretches well. There are also more than 55,000 positions currently available in the city.
The Midwest continues to make a strong showing on the list. In this case, Cincinnati has 61,000+ job openings, a median base salary of $45,000, and a job satisfaction rating of 3.3.
With a satisfaction rating of 4.2, Hartford has nearly 41,000 job openings with a median base salary of $55,000. It also has the highest home values in the top five, at $227,600.
Secondary Market Basics
There is not a cut-and-dry definition for secondary markets in real estate. Traditionally, “24-hour cities”—like New York City—are considered primary markets.
Other less-populated and less-powerful economic areas like Boston, Chicago, or Los Angeles, are relegated to secondary market status. In contrast to primary markets, many refer to these cities as “18-hour cities.”
Examples of secondary markets include Phoenix, Arizona, Philadelphia, Pennsylvania, and San Antonio, Texas. Even though they rank among the largest in the country, experts still consider them secondary markets. This is due to home prices being more affordable than in primary markets.
Plus: With 49,000 job openings and a $50,000 median base salary, Raleigh, North Carolina ranked number eight on the list. Above all: Think Realty and Triangle Real Estate Investors Association (TREIA) have the TREIA Conference & Expo in Raleigh on October 25 -27, 2018! In addition to networking and education, the TREIA Conference & Expo will feature tons of things beneficial to investors. We hope to see you there!