While Philadelphia lost thousands of residents during the pandemic, Downingtown saw an influx of individuals and families who chose this suburb as their new home, writes Kennedy Rose for the Philadelphia Business Journal.
According to U.S. Postal Service data, 4,329 families decided to move out of Downingtown, while 5,183 chose this suburb to be their new home. This represents a net gain of 854 households, or 4.67 net change, making it one of the most popular suburbs for people looking to relocate over the past year.
Throughout the region, people migrated more toward the outer suburbs, higher-income neighborhoods, and towns. This trend included places that have a higher population of people over the age of 65 and areas with a higher average educational attainment.
Downingtown soon attracted those looking for higher-income places. Its median household income is more than $100,000. Furthermore, more than three-quarters of households own their homes.
Downingtown saw this increase in households despite the growing home prices, which are reaching record highs as inventory slides to record lows.
Read more about Downingtown in the Philadelphia Business Journal.