Psychologists say that moving to a new town is one of life’s greatest traumas, right up there with divorce and severe illness. So it would be nice to know that your new home isn’t going to fall off a cliff, valuewise, the moment you move in. Houses are indeed more affordable now than they were a few years ago; prices have declined by more than 14 percent throughout the country since the bubble burst. And with foreclosures growing, employment slowing, and credit tightening, the wizards at Moody’s Economy.com (in conjunction with Fiserv Lending Solutions) predict that nationwide housing prices won’t stop drifting downward until the middle of 2009. Moody’s housing economist Celia Chen, Ph.D., says prices won’t start growing at a normal rate—about 5 percent a year, in lockstep with household incomes—until 2010.
But that’s just on average. When we asked them to predict price trends between now and February 2010 (the farthest they’re willing to project, being cautious economists), only a handful of the markets showed growth rates above 3 percent. A larger group—31 markets out of 380—will see declines of more than 8 percent. Moving to Las Vegas, Miami, Phoenix, Salt Lake City, or Tucson this year? We’d rent.
But prices are only part of the story. You want a great place to live, not just a bulletproof investment. So we paired Moody’s estimates with eight different data sets of our own for 100 of the largest metro areas across the country. We looked at life expectancy, number of doctors and fitness facilities per capita, air quality, education levels, crime, cost of living, and even the ratio of single women to single men.
When the dust settled, 10 cities emerged. They are, by our estimation, the best places to live for men. And the winners are . . .
Continue to read about the best cities for men...
1) San Francisco, CAMoody’s housing appreciation estimate: 0.9%
MHL lifestyle rank: 10
Each year, millions of tourists walk streets lined with enchanting Victorian homes, watch the fog roll across the Golden Gate Bridge, and sip Irish coffees as the sun sets over the ocean, turning this alabaster city into gold. Then they share this thought: Where could I find the money to live here?
It’s no wonder housing prices in San Francisco haven’t dropped nearly as much as they have in other major cities over the past few years. It’s also easy to see why they’ll rebound faster here as well. With hip and brainy locals and a boundless cultural scene, San Francisco earns the #1 spot on this year’s list.
2) San Diego, CA
Moody’s housing appreciation estimate: 1.1%
MHL lifestyle rank: 30
Once a sleepy navy town supported by a thriving red-light district, San Diego is now more like a Disneyland for grown-ups. There’s Beachland, with its 70 miles of coastline, boardwalks, and surf spots; Familyland, with its world-famous zoo and SeaWorld; and Hipsterland, the redeveloped Gaslamp Quarter, with its hopping nightclub scene. With neighborhoods ranging from laid-back Coronado to chichi La Jolla, there’s something here for everyone.
San Diego boasts a low crime rate and an educated workforce attracted to jobs in health care and biotech, not to mention perfect weather. San Diego’s housing market was the first in California to falter, so it should be the first to stabilize, reports Moody’s analyst Steven Cochrane. San Diego is also one of the nation’s only markets where condo prices are expected to increase in 2009.
3) Minneapolis, MN
Moody’s housing appreciation estimate: 0.9%
MHL lifestyle rank: 22
Minneapolis is the next Silicon Valley. Or maybe it’s vice versa. There are so many high-tech companies here, so many smart people, and so much medical R&D going on that Popular Science ranked it the country’s Top Tech City in 2005. And yes, San Francisco, Seattle, and the rest were all in the running.
All those techie geniuses escape the frigid winters by scurrying around downtown in an 8-mile series of sealed, second-floor bridges known as the Minneapolis Skyway. When the weather warms up, they can run or bike along the Chain of Lakes—more than 50 miles of green space encircling the city. With at least 20 lakes and the Mississippi River all within the city limits, waterfront property is easy to find. There are also dozens of museums, a vibrant theater scene, and plenty of indoor sports action at the Metrodome and Target Center.
4) Sioux Falls, SD
Moody’s housing appreciation estimate: 0.7%
MHL lifestyle rank: 3
We’re in a recession? No one got the memo in Sioux Falls, which recently hit #1 on Forbes’ list of the best small places for business. Unemployment rates are low, even as the population continues to rise. New residents don’t come seeking jobs in farming, but in financial services and health care.
Having missed out on the housing boom, Sioux Falls also missed the housing bust, Moody’s reports. That’s not to suggest that the city is isolated culturally. It has a great symphony orchestra, playhouses, and dance companies. The 2-day JazzFest in July draws nearly 100,000 concertgoers. If you can stand the chilly weather, you’ll be rewarded with clean air, clean water, and safe streets. Some nice-looking falls, too.
5) Anchorage, AK
Moody’s housing appreciation estimate: 0.9%
MHL lifestyle rank: 29
Anchorage is the base camp for America’s last true frontier. Bears and bald eagles are easy to spot within the city limits, and moose are so common they’re considered pests. The city itself offers an intriguing balance of wilderness and civilization: As the mayor once observed, it’s the only place in the country where you can catch a 50-pound king salmon, dine at a five-star restaurant, and attend a Broadway play, all without leaving downtown.
Alaska’s economy is thriving, too, thanks to the oil and transportation industries, as well as the military. Average incomes here are among the highest in the nation. Heck, the state pays you to live here: Each resident gets a piece of oil profits each year (more than $3,000 in 2008).
Everyone in Anchorage seems to ski, skate, snowboard, or kayak—sometimes all four—and there’s a surprisingly high ratio of fitness facilities per person. Sure, the weird seasonal patterns can play with your head, but no one complains: In the summer, locals hike, golf, and run under the midnight sun.
Find the cities that ranked 6-10...
6) Omaha, NEMoody’s housing appreciation estimate: 0.6%
MHL lifestyle rank: 15
New York isn’t the only city in America where you can earn a fortune by day and celebrate with a nice slab of porterhouse at night. Just ask Omaha native Warren Buffett, who became the world’s richest man while living in the same house he bought here 40 years ago. His company, Berkshire Hathaway, is one of just four Fortune 500 companies headquartered in Omaha.
Other things you can do in Omaha but not in New York City: park your car for next to nothing; buy a house for an average of $136,000; send your kids to great public schools; and find a gym almost anywhere. (Omaha ranks eighth in the country in fitness centers per capita.)
You can nourish your inner hipster, too. Head down to the Old Market for cool wine bars, vintage vinyl, and cutting-edge art. There’s a burgeoning indie-rock scene (Bright Eyes is from here), and the Omaha Lit Fest attracts scribes from around the country. Omaha’s Community Playhouse is the largest in the United States, and its sprawling zoo is among the best in the world.
7) Fargo, ND
Moody’s housing appreciation estimate: 0.5%
MHL lifestyle rank: 4
How humble is this city? It didn’t even appear in the movie bearing its name—the Fargo in Fargo was actually northeast Minneapolis. But based on our number crunching, we believe some bragging is in order. The city has clean air, low crime, high life expectancy, and an educated workforce. And Moody’s ranks it as the most economically vital of all 380 metro areas it’s studied—a measure of both the city’s current and prospective economic conditions.
Low costs and a humming agricultural sector add up to a strong economy here, but health care and software are big businesses as well. Excellent hunting, fishing, boating, and mountain biking are all within arm’s reach, and the Great Plains has natural beauty to spare: 10 million migratory waterfowl squawk overhead each spring and fall. The city’s motto, “Always warm,” refers to the people, not the climate. Bring your mittens.
8) Little Rock, AR
Moody’s housing appreciation estimate: 0.5%
MHL lifestyle rank: 31
Bill Clinton came from a town called Hope, but when it came time to choose the location of his presidential library, he chose Little Rock. The decision helped transform the downtown from wasteland to hot spot, with chic restaurants, galleries, and lofts connected by a historic streetcar line.
The renaissance provided a sorely needed image upgrade to a town still smarting from an ugly fight over school integration more than half a century ago, in 1957. The site of that fight, Central High School, has grown into one of the nation’s top public schools.
The city benefits from mild winters, affordable housing, clean air, and a low cost of living. It also has a high concentration of hospitals and medical research facilities. Recently, a wind-farm blade manufacturer announced it was expanding here. So Little Rock, with its relative proximity to the windy Great Plains, may eventually become a major alternative-energy hub.
9) Lincoln, NE
Moody’s housing appreciation estimate: 0.3%
MHL lifestyle rank: 9
Washington has the president. Vatican City has the pope. Lincoln has the Cornhuskers. “Weddings, baptisms, reunions, and even funerals are planned around Husker games,” says the sports blogger known as Husker Dan. “It’s true the state doesn’t have any mountains or an ocean or any major league sports teams. So who cares? We have the Cornhusker football team, and not much else matters.”
That’s only partially true. Lincoln is home to a young, well-educated residential base, lively nightlife, and plenty of cultural options. The university is the biggest employer, but banking, IT, and insurance each have a strong presence, as well. Low crime, high air quality, and a low cost of living add to Lincoln’s appeal, so much so that the economists at Moody’s predict sunny times ahead.
10) Cheyenne, WY
Moody’s housing appreciation estimate: 0.4%
MHL lifestyle rank: 35
Cheyenne’s very name conjures up romantic images of cowpokes tending cattle under a big sky, and locals wear the reputation like a shiny six-point badge. Hundreds volunteer each year to staff Cheyenne Frontier Days, the world’s largest outdoor rodeo, and real cowboys can be found year-round at the Outlaw Saloon.
Taxes are so low that Wyoming claims to be the least expensive state in America to do business in. The U.S. Air Force is one of the biggest employers; health care is big here, as well. Air quality is high, crime is low, and the average commute is only 13 minutes. Granted, Cheyenne isn’t known for its culture or entertainment options, but some of the country’s best rock climbing is just a half hour away. And Denver is only a 90-minute drive.
Oh, and there are 10 women here for every nine men. Sweet!