While many residents in suburban communities continue to suffer from home foreclosures, falling incomes and a higher cost of living, Levittown is bucking the trend.
That’s according to a new Bloomberg article titled “Suburban Pioneer Levittown Thrives as Imitators Falter,” which says that the town is more economically prosperous than similar suburban towns.
“The town of about 52,000 shows how location and local comforts can overcome the obstacles curbing the nation’s love affair with suburbs, which began when Levittown started selling 800-square-foot, ranch-style homes by the thousands in 1949.
While new research shows that U.S. suburbs are getting older, poorer and more ethnically diverse, Levittown’s home prices have risen, incomes have grown, and poverty levels are far below the national average.”
More specifically, the article says that Levittown is defying a nationwide trend of declining household prices and rising poverty in the suburbs. For example, in Levittown, household income rose 1.8 percent in 2011 from 2000, which is much better than the decline of 12.8 percent nationwide, the article states.
One thing that hasn’t changed, however, is the lack of diversity in the town. According to the article, 81 percent of Levittown is white, with 12 percent Hispanic, 5 percent Asian and just .4 percent black, compared to a 10.5 black rate in Nassau County.
Read the full article online here.
What do you think about the Bloomberg article? Is Levittown doing better than other suburbs across America, or are people struggling here just like in other towns? Tell us what you think in the comments below.