Grand Rapids is No. 9 'hottest hipster market' in US
Grand Rapids is one of the top 10 “hottest hipster markets” in the country.
The realtor.com Yelp “Hottest Hipster Markets in America” ranking puts Grand Rapids in ninth place among the most in-demand housing markets for buyers looking to embrace the hipster culture.
"Based on our research, there's clear evidence that hipster popularity…has led to mainstream interest and higher home prices over time,” said Javier Vivas, director of economic research, realtor.com. “Whether it's the farm-to-table restaurants or urban renewal projects that were already underway, a concentration of hipsters seems to be an indicator of a hot housing market."
Grand Rapids’ “public art installations and extensive craft brewery scene” make it a big draw for homebuyers with hipster interests, according to realtor.com and Yelp. The city attracts “artists, musicians and young families and has a strong LGBTQ community, which puts on the highly anticipated Grand Rapids Pride event every summer.” Realtor.com also designated Brewery Vivant as the city’s “hipster hotspot.”
The median home price in Grand Rapids is $387,000, according to realtor.com. The average household earns $63,308 a year, with an unemployment rate of 3.2 percent. Millennials make up 13.8 percent of the population, contribute to 25.4 percent of all page views in the area on realtor.com and have a median household income of $67,680.
The companies said millennials — people ages 25 to 34 — in the top 10 markets make up an average of 22 percent of the population, higher than the national population share of millennials, which is 13 percent. Additionally, these markets are continuing to draw interest from a younger crowd, as the millennial age group is viewing property listings at a rate 1.2-times greater than the share of millennials already living in the area, indicating strong interest from other millennials wanting to move into these neighborhoods.
The realtor.com Yelp “Hottest Hipster Markets in America” ranking was developed by gathering Yelp data to rank ZIP codes by the greatest gap between the share of business reviews in the ZIP containing the word hipster and the share of business reviews in the ZIP's city. The market “hotness” index was then calculated for each market, based on realtor.com page views and days on market. Markets were then ranked based on a composite index made up of both the Yelp data and the realtor.com hotness index. Only one ZIP code per metropolitan area was included.
To 10 “Hottest Hipster Markets in America”
1. Columbus, Ohio (43202)
2. Seattle (98122)
3. San Diego (92104)
4. Fort Wayne, Indiana (46802)
5. Rochester, New York (14620)
6. San Francisco (94117)
7. Long Beach, California (90814)
8. Louisville, Kentucky (40217)
9. Grand Rapids (49506)
10. Colorado Springs, Colorado (80903)