The suburbs seem to be losing some of their appeal throughout the country. Larger cities and urban areas are trending upward as a place to live and home values reflect this, Zillow reports.
For decades, suburban homes have had higher values than those found in urban areas, but in November 2014, that changed, as the average value of an urban home overtook that of a suburban home.
At the end of 2015, the average American home in an urban area was worth $269,036. That is almost 2 percent higher than the average suburban home value. In addition, since 2012, homes in urban areas have been appreciating more quickly than suburban homes on a year-over-year basis.
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