8legs: Bank of america institute

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Home buyers are flocking to these ‘recession-proof’ Midwest cities

The Bank of America Institute finds the Midwest contains three of the five fastest-growing major metro areas in the latest quarter.
Affordability and large-scale infrastructure projects, like data centers, drive steady Midwest housing appeal amid broader volatility.
Sun Belt momentum decelerates as high prices and cooling migration shift some residents toward affordability.
Renter costs show relief as mortgage costs rise, with rent payments flat year-over-year in October.
Midwest growth is tied to affordability and mega-projects that attract relocations despite a shrinking pool of movers.
Indianapolis and Columbus lead the Midwest growth, with Cleveland also among the top growing metros.
Bank of America data covers domestic outflows in major metros across the country, noting a broader slowdown in movement.
Post-pandemic migration patterns show a flight toward affordability in housing and long-term job stability.
Renters experience a shift as supply increases and demand tightens, helping renters cut costs.
The report indicates Midwest hubs could help stabilize national housing markets amid volatility.

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