In the latest edition of our monthly news brief, JLL’s regional team curates the top industry articles to keep you in-the-know. In this month’s edition, JLL spotlights local markets where your paycheck goes the furthest, foreign investment in U.S. CRE and Gensler’s 2016 Workplace Survey findings.
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Paychecks Go the Furthest in Midwest Cities
Local markets including Cincinnati, Cleveland, Columbus, Detroit, Louisville and Pittsburgh all ranked in Glassdoor’s Top 25 Cities Where Pay Goes the Furthest. The study compared each city’s median salary to its median home value, and also included number of available jobs.
Detroit claimed first place with a median base salary of $61,500 and median home value of $123,100, followed by Pittsburgh (No. 3), Cleveland (No. 4), Cincinnati (No. 7), Louisville (No. 10) and Columbus (No. 14).
The pay isn’t the only thing driving interest into these cities. As much of today’s workforce is made up of millennials, more downtown areas are being reinvented to fit their needs and wants. Cities in these regions—including Cleveland, Detroit and Columbus—have redeveloped much of their urban centers to appeal to this population. Many young professionals are also choosing to live in these secondary markets to take advantage of all the downtown perks at a significantly lower cost as compared to other popular markets, like NYC or San Francisco.