{"id":35436,"date":"2019-05-30T18:25:31","date_gmt":"2019-05-30T15:25:31","guid":{"rendered":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/?p=35436"},"modified":"2025-04-10T14:17:47","modified_gmt":"2025-04-10T11:17:47","slug":"the-post-recession-housing-pulse-of-medical-centers-nursing-wages-and-home-price-growth","status":"publish","type":"post","link":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2019\/05\/30\/the-post-recession-housing-pulse-of-medical-centers-nursing-wages-and-home-price-growth\/","title":{"rendered":"The Post-Recession Housing Pulse of Medical Centers \u2013 Nursing Wages and Home Price Growth"},"content":{"rendered":"

After looking at the best cities to buy a home in based on your occupation<\/a>, we decided to switch things around and analyze cities from the perspective of one occupation. With roughly 1 in 53 Americans now employed as nurses, we decided to take a look at the evolution of home prices and nursing wages in the nation\u2019s top medical centers in the decade since the recession.<\/p>\n

Why nursing? Not only is it one of the most common professions in the country, but unlike many other job sectors, it\u2019s one that remains thoroughly protected from the threat of automation. Additionally, it\u2019s one of the fastest growing job sectors nationally, projected to grow at more than double the rate of the average industry. According to Bureau of Labor Statistics projections, a 15% expansion<\/a> is expected in the nursing industry through 2026, adding close to 440,000 new jobs nationally. Many of those will be in major medical hubs like New York, Boston and Los Angeles.<\/p>\n

Although not a universally held opinion, there is ample evidence to support the claim that nursing is a recession-proof occupation. A comprehensive BLS report<\/a>\u00a0on\u00a0employment and wage growth in the nursing industry found that between 2007 and 2010 employment grew 7.6%, while the national average employment contracted 5.6%. Moreover, the nursing industry added hundreds of thousands of jobs during a period when other industries shed millions of jobs nationally. Wage growth was also steady at 8.4%, about the same rate as national wage growth.<\/p>\n

Meanwhile, the recession saw home prices tumble, then quickly recover, almost immediately outpacing wage growth. In fact, looking at our target cities, 10 out 12 were already an on upswing in median home prices by 2012, in some cases at spectacular rates \u2013 Phoenix’s median jumped 53% in 2012 alone.<\/p>\n

Follow the evolution of median home sale prices and nursing wages in 12 of the top medical centers in the country in the interactive table below. Scroll though the drop-down list and select your city.<\/i><\/p>\n