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For empty nesters, the lure of downtown living is obvious. There are more cultural attractions like museums and theaters, more high-quality restaurants, and much less driving. Also, you can make a lot of money if you downsize a large suburban house to a smaller apartment in the city. For each of the 30 largest metropolitan areas in the country, we calculate the expected savings from moving from an exclusive suburb of the city to the center of the city. Transaction costs and property tax adjustments (in the case of San Francisco) are not included. These are the top 10.
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© iStock
For our list of the best urban centers for empty nesters, we considered the 30 largest metropolitan areas in the country (geographic entities defined by theUnited States Office of Management and Budgetfor use by federal agencies in the collection, tabulation, and publication of federal statistics) and calculated the potential savings from moving downtown, based on the cost of property in the suburbs relative to downtown, using data fromTrulia.com, the Oficina del Censo and the Texas Transportation Institute.
No. 1: Los Angeles, California.
Considered suburbs:Palos Verdes Estates, Manhattan Beach, Pasadena
Downtown area:west los angeles
(Video) WEIRD THINGS CAUGHT ON SECURITY & CCTV CAMERAS!The median price per square foot for the suburbs in our Los Angeles index was $555, which compares very favorably with West Los Angeles, where a prime location can be found for $455 per square foot. Downsize a 3,000-square-foot home to a 1,500-square-foot apartment and you could save $982,500. Add in the cost of lost productivity from the appalling traffic in Los Angeles, where the top 20% make $210,000, and that's another $7,900.
Total savings:$ 990.400
Sources: Trulia.com, Census Bureau, Texas Transportation Institute.
Courtesy San Diego Convention and Visitors Bureau
For our list of the best urban centers for empty nesters, we considered the 30 largest metropolitan areas in the country (geographic entities defined by theUnited States Office of Management and Budgetfor use by federal agencies in the collection, tabulation, and publication of federal statistics) and calculated the potential savings from moving downtown, based on the cost of property in the suburbs relative to downtown, using data fromTrulia.com, the Oficina del Censo and the Texas Transportation Institute.
No. 2: San Diego, California
Considered suburbs:Rancho Santa Fe, La Jolla, Del Mar
Downtown area:gaslamp district
Buying a place downtown costs $476 a square foot, so when you move from an upscale suburb where prices are $521 a square foot, expect to pocket $849,000 in equity, based on our downsize example. 3,000 square foot house to a 1,500 square foot apartment. The richest 20% make $197,000 a year here, and when congestion is factored in, commuting costs them $6,000 a year in lost productivity.
Total savings:$ 855.000
Sources: Trulia.com, Census Bureau, Texas Transportation Institute.
© iStock
For our list of the best urban centers for empty nesters, we considered the 30 largest metropolitan areas in the country (geographic entities defined by theUnited States Office of Management and Budgetfor use by federal agencies in the collection, tabulation, and publication of federal statistics) and calculated the potential savings from moving downtown, based on the cost of property in the suburbs relative to downtown, using data fromTrulia.com, the Oficina del Censo and the Texas Transportation Institute.
#3: San Francisco, California.
Considered suburbs:Mill Valley, Kentfield, Larkspur
Downtown area:pacific heights
The San Francisco suburbs of Marin are some of the most expensive in the country, costing $606 per square foot to live there. At $668 a square foot, upscale Pacific Heights isn't cheap, but downsizing a 3,000-square-foot suburban home to a 1,500-square-foot townhome will net you $816,000. Subtract the loss of productivity from the brutality of commuting on Highway 101, and those in the top 20% will see an additional $7,700 in annual savings.
Total savings:$823,700 (not including any property tax adjustments)
Sources: Trulia.com, Census Bureau, Texas Transportation Institute.
(Video) WEIRDEST THINGS CAUGHT ON SECURITY CAMERAS!
©CREDIT
For our list of the best urban centers for empty nesters, we considered the 30 largest metropolitan areas in the country (geographic entities defined by theUnited States Office of Management and Budgetfor use by federal agencies in the collection, tabulation, and publication of federal statistics) and calculated the potential savings from moving downtown, based on the cost of property in the suburbs relative to downtown, using data fromTrulia.com, the Oficina del Censo and the Texas Transportation Institute.
Nº 4: Seattle, Washington.
Suburbs considered: Bellevue, Medina, Clyde Hill
Downtown area:Belltown
It costs $500 per square foot to live in an upscale Seattle suburb and $490 to live downtown, which means cutting your living space in half from 3,000 square feet to 1,500, potentially saving $765,000. Add in the money saved by those in the top quintile by avoiding a daily commute and you'll get another $4,500 as a result of the move.
Total savings:$ 769.500
Sources: Trulia.com, Census Bureau, Texas Transportation Institute.
©DrewCallaghan / Photography.com
For our list of the best urban centers for empty nesters, we considered the 30 largest metropolitan areas in the country (geographic entities defined by theUnited States Office of Management and Budgetfor use by federal agencies in the collection, tabulation, and publication of federal statistics) and calculated the potential savings from moving downtown, based on the cost of property in the suburbs relative to downtown, using data fromTrulia.com, the Oficina del Censo and the Texas Transportation Institute.
No. 5: Philadelphia, Pennsylvania.
Considered suburbs:Devon-Berwyn, Moorestown, Villanova
Downtown area:West City Center (Rittenhouse Square)
At $340 per square foot, even the Main Line suburbs are a bit cheaper than the $361 per square foot you'll pay in downtown West Philadelphia. But moving from a 3,000-square-foot suburban house to a 1,500-square-foot apartment is a difference of $478,500. Add in the traffic savings for a top quintile earner ($3,700) and the change makes for a nice payday.
Total savings:$ 482.200
Sources: Trulia.com, Census Bureau, Texas Transportation Institute.
©iStockPhoto
For our list of the best urban centers for empty nesters, we considered the 30 largest metropolitan areas in the country (geographic entities defined by theUnited States Office of Management and Budgetfor use by federal agencies in the collection, tabulation, and publication of federal statistics) and calculated the potential savings from moving downtown, based on the cost of property in the suburbs relative to downtown, using data fromTrulia.com, the Oficina del Censo and the Texas Transportation Institute.
No. 6: Minneapolis, Minnesota.
Considered suburbs:Excelsior, West Saint Paul, Linden Hills
Downtown area:Midwest
Even in the nicer suburbs of Minneapolis, property is $226 per square foot, which may seem cheap until you realize it's only $154 per square foot downtown. After downsizing a 3,000-square-foot suburban home to a 1,500-square-foot downtown apartment, you'll have $447,000 left over. With minimal traffic delays and the top income quintile earning just $188,000 a year, commute relief saves another $4,200 a year.
Total savings:$ 451.200
Sources: Trulia.com, Census Bureau, Texas Transportation Institute.
© Shutterstock
For our list of the best urban centers for empty nesters, we considered the 30 largest metropolitan areas in the country (geographic entities defined by theUnited States Office of Management and Budgetfor use by federal agencies in the collection, tabulation, and publication of federal statistics) and calculated the potential savings from moving downtown, based on the cost of property in the suburbs relative to downtown, using data fromTrulia.com, the Oficina del Censo and the Texas Transportation Institute.
Nº 7: Chicago, Illinois.
Considered suburbs:Winnetka, Northbrook, Evanston
Downtown area:Near North Side (Gold Coast, Old Town, River North)
Purchase price in Chicago's main suburbs averages $344 per square foot, compared to $400 for downtown residents. Cutting your living space in half results in a savings of $433,000. Add a short walk to work instead of a slow commute, and our revenue model (top 20%) saves $4,700 per year in productivity.
Total savings:$ 437.700
Sources: Trulia.com, Census Bureau, Texas Transportation Institute.
© PAUL J. RICHARDS/AFP/Getty Images
For our list of the best urban centers for empty nesters, we considered the 30 largest metropolitan areas in the country (geographic entities defined by theUnited States Office of Management and Budgetfor use by federal agencies in the collection, tabulation, and publication of federal statistics) and calculated the potential savings from moving downtown, based on the cost of property in the suburbs relative to downtown, using data fromTrulia.com, the Oficina del Censo and the Texas Transportation Institute.
Nº 8: Washington, D.C.
Considered suburbs:Bethesda, Maryland; Alexandria, Virginia; Falls Church, Virginia.
Downtown area:downtown d.c.
(Video) From empty nest to first egg in less than 8 minutes! - BlueTit nest box live camera highlights 2021While suburban properties around the nation's capital are cheaper per square foot than in the city center, going from a 3,000-square-foot home at $376 per square foot to a 1,500-square-foot apartment at $468 per square foot square will save you $426,000. (Move to Georgetown or Dupont Circle, though, and you'll pocket less capital.) The top 20% earn $250,000 a year, resulting in a productivity savings of $7,800 after removing traffic.
Total savings:$ 433.800
Sources: Trulia.com, Census Bureau, Texas Transportation Institute.
©2009 Kevin C. Rose/AtlantaPhotos.com
For our list of the best urban centers for empty nesters, we considered the 30 largest metropolitan areas in the country (geographic entities defined by theUnited States Office of Management and Budgetfor use by federal agencies in the collection, tabulation, and publication of federal statistics) and calculated the potential savings from moving downtown, based on the cost of property in the suburbs relative to downtown, using data fromTrulia.com, the Oficina del Censo and the Texas Transportation Institute.
No. 9: Atlanta, Georgia.
Considered suburbs:Buckhead, Peachtree, Virginia Highlands
Downtown area:castle berry hill
Even if house prices were constant, it's worth moving to downtown Atlanta to avoid traffic. First quarter winners in Atlanta will save $5,800 per year simply by eliminating traffic delays. With the price difference between a 3,000-square-foot suburban home ($237 a square foot) and a 1,500-square-foot ($210 a square foot) downtown property, empty nesters will sell for $395,000.
Total savings:$ 400.800
Sources: Trulia.com, Census Bureau, Texas Transportation Institute.
© Photo AP/Lynne Sladky
For our list of the best urban centers for empty nesters, we considered the 30 largest metropolitan areas in the country (geographic entities defined by theUnited States Office of Management and Budgetfor use by federal agencies in the collection, tabulation, and publication of federal statistics) and calculated the potential savings from moving downtown, based on the cost of property in the suburbs relative to downtown, using data fromTrulia.com, the Oficina del Censo and the Texas Transportation Institute.
#10: Miami, Florida.
Considered suburbs:East Perrine, Fort Lauderdale, Coconut Grove
Downtown area:downtown miami
With the Miami condo market still in free fall, it's probably best to rent. But, if you're determined to buy, suburban prices of $170 per square foot and city prices of $220 per square foot mean downsizing a 3,000-square-foot home to a 1,500-square-foot condo freeing up $178,000. . Top quarter earners can also expect to save $4,700 per year if they can eliminate long commute delays from Miami.
Total savings:$ 182.700
Sources: Trulia.com, Census Bureau, Texas Transportation Institute.
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FAQs
At what age do most people become empty nesters? ›
What are the characteristics of empty nesters? Empty nesters are typically in their later 40s, 50s and 60s.
What are 3 key characteristics of empty nesters? ›Empty nest syndrome refers to the feelings of sadness, anxiety, and loss of purpose that some parents and caregivers feel when their grown children move out of the family home.
Who are more prevalent to empty nest syndrome? ›Empty nest syndrome refers to the grief that many parents feel when their children move out of home. This condition is typically more common in women, who are more likely to have had the role of primary carer.
What makes empty nesters happy? ›They don't neglect themselves
But the happiest empty nesters know that the time of self-sacrifice is over and they make themselves a priority. They reach out to friends, they start new hobbies or pick up old ones, they take time for fitness. This is a time to focus on you and the happiest empty nesters do just that.
The researchers found that women who had live births had telomeres that were an average of 4.2 percent shorter than their counterparts with no children. This equates to around 11 years of accelerated cellular aging, said Anna Pollack, an epidemiologist at George Mason University and the lead researcher of the study.
At what age do children need their mother the most? ›Babies need it for the first three years — especially from their mothers. Several years ago, psychoanalyst and parenting expert Erica Komisar started noticing a trend among American families.
Why do empty nesters divorce? ›Some causes of an empty nest divorce
The marriage was neglected. Many parents are so focused on their children's lives that they forgot their own. Marriages do require romance. After all, that's how your children were born in the first place.
The classic, stereotypical form of empty nest syndrome is considered to strike stay-at-home parents. When a parent, stereotypically a mother, stays home with a child, that parent may have few other sources of identity. When a child no longer needs the parent, they may feel overwhelmed by their own freedom.
What are the psychological effects of empty nest? ›The empty-nest syndrome is a psychological condition that affects both parents, who experience feelings of grief, loss, fear, inability, difficulty in adjusting roles, and change of parental relationships, when children leave the parental home.
What do empty-nesters do with their time? ›Get creative. An empty nest provides the perfect opportunity to explore or rekindle a love of hobbies like painting, calligraphy, knitting, pottery making, woodworking, sewing, cross-stitch … the possibilities are endless!
Do parents enjoy being empty-nesters? ›
Led by Christoph Becker at Heidelberg University in Germany, researchers found that parents were happier, but only after their children had moved out. These empty-nesters experienced less symptoms of depression and greater joy in life.
Are empty nesters lonely? ›Empty nest syndrome is the grief that many parents feel when their children move out of the home. While it isn't a clinical diagnosis, it is a common phenomenon in which parents experience sadness and loneliness. They grieve the loss of a lifestyle and relationship that was part of their identity.
Can you live a happy life without children? ›The path to happiness looks different for everyone. For some people, that path involves children; for others, it doesn't. Sometimes this is a choice; other times, it is an infliction. The important thing to recognize is that a life without children can be steeped in happiness.
How do I reinvent myself as an empty nester? ›- Improve your physical health. Consider joining a fitness class or running club, start meditating or focus on getting more sleep. ...
- Invest in community health. ...
- Find your purpose. ...
- Nurture your social life. ...
- Improve your financial health.
And between the ages of 50 and 60, the “aging trajectory” was up to three times faster. “Men and women age similarly up to the age of 50,” says Sonja Windhager, who led the research. “It's a linear progression. But at the age of 50, for women, it goes really fast.
What age is considered no longer a child? ›How does the Convention on the Rights of the Child define a child? The Convention defines a "child" as a person below the age of 18, unless the relevant laws recognize an earlier age of majority.
What makes you age the fastest? ›Exposure to light is a top cause of premature aging: Sun exposure causes many skin problems. Ultraviolet (UV) light and exposure to sunlight age your skin more quickly than it would age naturally. The result is called photoaging, and it's responsible for 90% of visible changes to your skin.
What age is hardest to parent? ›It's no wonder then that research finds that the hardest years of parenting are the tween, (or middle school if you're in the USA) years. They may be less physically exhausting than the early years, but emotionally they are so much more exhausting.
Are stay-at-home mothers happier? ›For example, mothers employed part time reported better overall health and fewer symptoms of depression than stay-at-home moms, while there were no reported differences in general health or depressive symptoms between moms employed part time and those who worked full time, the study said.
At what age parenting becomes easier? ›They become quite independent as they reach 5-6 years of age, even wanting to help you with some of the chores! This is probably why most parents look at age 6 as the magical age when parenting gets easier.
What do empty nesters want in a house? ›
Empty nesters might be willing to downsize square footage, but they want everything else upsized. For example, older adults want new homes with high-end features: hardwood floors, a high grade of carpet, granite countertops, stainless steel appliances, walk-in showers, and custom cabinetry.
What are the stages of empty nest syndrome? ›In general, empty-nest syndrome is a process with three distinct stages: grief, relief, then joy, says social psychologist Carin Rubenstein, author of “Beyond the Mommy Years: How to Live Happily Ever After . . .
What is the divorce rate after an empty nest? ›The divorce rate among empty nesters has soared from 1-in-10 to 1-in-4 over the last few years According to studies, including one from the University of Louisville at Kentucky. (shot of couple with interviewer) One local couple's empty nest took a toll on their 23-year marriage.
How do I deal with not seeing my child everyday? ›- You should remember that no emotional state is permanent. ...
- Learn ways of managing emotional stress. ...
- Do not be afraid to seek help. ...
- Leave your home from time to time. ...
- Read a lot. ...
- Spend more time with families and friends.
- Long-Distance Parenting Needs To Be a Team Effort. ...
- Agree on a Day and Time Each Week To Connect and Catch Up. ...
- Accept the Timing and Situation You Are In. ...
- Focus on the Positives in Both of Your Lives. ...
- Be Proactive in Supporting the Emotional Needs of Both You and Your Child.
While studies focusing on mental health issues among stay-at-home moms are sparse, one Gallup poll of more than 60,000 U.S. women found that stay-at-home moms experienced depression, sadness, stress and anger at a higher rate than working moms.
How do you cope when your child moves far away? ›- Celebrate His Successes—And Yours. ...
- Be Honest With Yourself and Others. ...
- Take Up a New Hobby. ...
- Volunteer With a Cause You Support. ...
- Get Creative With Communication. ...
- Trust the Process. ...
- Find a Support System That Works for You. ...
- Learn To Be Happy.
Fathers can and do feel bereft when their children leave home. Feelings of depression or grief when children have 'flown the nest' is popularly known as 'empty nest syndrome'. Empty nest syndrome isn't a clinical diagnosis.
What is nest syndrome? ›Empty nest syndrome is the name used to describe the sadness—and sometimes even distress—that parents feel when their children move out. People experiencing empty nest syndrome may display feelings of loss, sadness, anxiety, grief, irritability, and fear and it impacts both men and women.
What do empty nesters eat? ›- Instant Pot Spicy Kale and Sausage Soup.
- Crispy White Beans.
- Pasta Puttanesca with Fresh or Canned Tomatoes.
- Mounds Bar Nice Cream.
- Chard, Cheese and Tomato Oven-Baked Frittata for Two.
- 10-Minute Garlicky Swiss Chard.
- Middle Eastern Salad with Garlic-Yogurt Dressing.
- Spicy Carrot Soup (Instant Pot or Not)
What are the disadvantages of empty nest family? ›
If left untreated, empty nest syndrome can lead to major clinical complications in the form of anxiety, stress, depression, cognitive issues, problems in focus, concentration, hopelessness 'n' helplessness, and so on.
What is the happiest family size? ›In a study conducted by Dr Bronwyn Harman from the Edith Cowan University in Perth, it was found that parents with four or more children are the happiest parents.
How do I deal with not being a mother? ›- Read As Much As You Can. ...
- Seek Support. ...
- Understand Your Grief. ...
- Stages of Grief. ...
- Allow Yourself to Grieve. ...
- Honor Your Grief. ...
- Let Go of Your Grief. ...
- Accept Acts of Love and Kindness.
It's normal to experience a range of emotions about the decision to not have children, including sometimes feeling sadness, regret, or self-doubt. If these feelings become overwhelming or start to have a negative impact on your life or mental health, consider speaking with a therapist.
What is the most important priority for a person in empty nester stage? ›Putting your retirement on the front burner should be a priority during the empty nest years.
What age does everyone move out? ›While there are a lot of factors involved, the average age when people move out of their parent's home is somewhere between 24 and 27. This makes logical sense – it's after many people have completed college and around the time when most people get married and/or are in a long-term relationship.
At what age does having kids get easier? ›They become quite independent as they reach 5-6 years of age, even wanting to help you with some of the chores! This is probably why most parents look at age 6 as the magical age when parenting gets easier.
What is the hardest age with a child? ›It's no wonder then that research finds that the hardest years of parenting are the tween, (or middle school if you're in the USA) years. They may be less physically exhausting than the early years, but emotionally they are so much more exhausting.
What is the divorce rate for empty nesters? ›The divorce rate among empty nesters has soared from 1-in-10 to 1-in-4 over the last few years According to studies, including one from the University of Louisville at Kentucky. (shot of couple with interviewer) One local couple's empty nest took a toll on their 23-year marriage.
Is moving out good for Mental Health? ›You can step back from your day-to-day life, and begin to understand more about yourself – positive or negative habits, toxic relationships, fears, desires, and more. Simply taking the time to understand more about yourself can be extremely valuable, and help you build a happier life and a healthier mental state.
What is the average age to buy a house? ›
...
What is the average age of a first-time buyer?
Year | Average Age of First-Time buyer in London | Average Age of First-Time buyer in England (Excluding London) |
---|---|---|
2017-18 | 34.5 | 32.6 |
2018-19 | 36.7 | 32.1 |
2019-20 | 34.5 | 32.2 |
2020-21 | 33.8 | 32.1 |
Scientists from Indiana University report the average age that humans conceive children over the past 250,000 years is 26.9 years old. Importantly, fathers tend to be older (30.7 years old on average) in comparison to mothers (23.2 years old on average).
Is age 2 or 3 harder? ›If you're already dealing with a tantrum-prone two-year-old, I'm sorry to tell you that having a threenager is even harder.
Is it hard to have kids after 40? ›Just as it's statistically more difficult to conceive after the age of 40, pregnancy itself can also be more challenging as you age. You may have more aches and pains due to joints and bones that are already starting to lose mass with age.
Is having kids after 30 hard? ›Trouble conceiving: Starting in their early 30s, women become less fertile, and it may take them longer to get pregnant. Complications during pregnancy: Women older than age 35 have a higher risk for diabetes and high blood pressure during pregnancy. Older women are also more likely to be pregnant with multiples.
What state is best to raise kids? ›Massachusetts topped the list for the best state to raise a family. The New England state earned a total score of 66.14. It ranked second in both education & child care and affordability. The state is home to some of the country's best schools, including Harvard and MIT.
What is the ideal family size? ›Trends in ideal family size
Two children is always the most popular choice, followed by three children, four or more children, and one child or no children. Chi-square tests, however, indicate a significant difference in responses over time.
Gray (or grey) divorce refers to a divorce involving individuals who are 50 years of age or older. Many high-profile cases, such as Bill and Melinda Gates, Billy Ray and Tish Cyrus, and Arnold Schwarzenegger and Maria Shriver, have brought attention to the growing number of gray divorces.
Why do empty-nesters divorce? ›Some causes of an empty nest divorce
The marriage was neglected. Many parents are so focused on their children's lives that they forgot their own. Marriages do require romance. After all, that's how your children were born in the first place.
Even as the Baby Boomers continue to age, they divorce more than any other age group.