Providence, Brockton, Fall River, Boston area cities among those identified by investors as ‘growth frontiers’

Imagine if you could approach investing in cities with the same strategies used in stock market trading. American cities operate with striking parallels to corporations—they offer a suite of ‘services’ to their ‘shareholders’ (the residents), they have ‘revenue streams’ from various taxes and funding, and their ‘market value’ fluctuates based on economic health and governance. Unlike companies, however, cities aren’t up for public investment. But what if they were?

If there was a ‘City Exchange,’ where you could buy and sell shares in American cities as if they were stocks, which city would you purchase shares in? Would you invest in the innovation hub of San Francisco, with its tech-driven economy? Or perhaps you’d see value in the steady growth and favorable tax climate of Austin, Texas. Maybe the resilience and historical significance of Boston would be more appealing, especially given its education and healthcare sectors.

The Stock Dork ran a survey of 3,000 investors to create a ‘City Confidence Index’. They asked respondents:

If cities were publicly traded on stock exchanges, which would you most want to invest in?

The top 10 were as follows with descriptions of each:

1. Jacksonville, Florida
Jacksonville emerged as the most investible city in the U.S. It offers a unique investment appeal due to its extensive port facilities, which make it a key player in maritime trade. The city’s strategic location in Florida also serves as a gateway for business and tourism in the Southeastern United States. With a growing population, affordable housing, and diverse economic base including finance, healthcare, and logistics, Jacksonville could be a promising investment for those looking at long-term growth and stability.

2. Fort Lauderdale, Florida
Known for its beautiful beaches, boating canals, and vibrant tourism industry, Fort Lauderdale could be an attractive investment destination. The city’s economy is bolstered by a thriving tourism sector, an expanding aerospace and aviation industry, and a growing technology sector. Fort Lauderdale’s appeal is also enhanced by its proximity to Miami, making it part of a larger, economically dynamic region.

3. Boston, Massachusetts
Boston’s strength lies in its prestigious educational institutions and robust healthcare sector. The city came in 3rd place overall. As a historical city, it also benefits from tourism and a rich cultural heritage. Investment in Boston could be seen as investing in intellectual capital and innovation, with the potential for spillover benefits from research and development in technology, biotechnology, and healthcare sectors.

4. Albany, New York
Albany, the capital city of New York State, has a diversified economy centered around government, healthcare, and education. With its stable job market, growing tech scene, and rich history, Albany presents an opportunity for steady, risk-averse investment. The city’s ongoing efforts in urban revitalization and its strategic location as a gateway to other major Northeast cities add to its appeal.

5. Coral Springs, Florida
Coral Springs, in 5th place, is known for its family-friendly atmosphere, excellent schools, and well-planned neighborhoods. This suburban city, with its focus on community development and quality of life, could attract investors looking for stability and consistent growth. The city’s economic development initiatives aimed at attracting small and medium-sized businesses also make it an attractive investment choice.

6. Santa Barbara, California
Santa Barbara, with its picturesque coastline and Mediterranean climate, is a prime location for tourism and high-end real estate. The city’s economy benefits from a mix of education, technology, and healthcare sectors. Investment in Santa Barbara might appeal to those looking for a combination of luxury real estate, a strong tourism sector, and a stable local economy.

7. Boynton Beach, Florida
In 7th position, Boynton Beach in South Florida offers a mix of coastal living and urban convenience. The city’s redevelopment initiatives, growing retail and business sectors, and attractive real estate market could make it a lucrative option for investors. Additionally, its proximity to larger cities like West Palm Beach and Fort Lauderdale adds to its investment appeal.

8. Providence, Rhode Island
Providence’s investment appeal lies in its rich cultural heritage, educational institutions like Brown University and Rhode Island School of Design, and its growing healthcare sector. The city’s ongoing efforts in revitalizing its downtown and waterfront areas, along with its vibrant arts scene, make it an attractive option for those interested in urban redevelopment and cultural investments.

9. Tucson, Arizona
Tucson’s investment potential is anchored in its unique blend of education (home to the University of Arizona), aerospace and defense industries, and a growing technology sector. The city’s affordable cost of living, coupled with its rich cultural heritage and natural beauty, makes it an attractive option for a diverse range of investors.

10. Columbus, Ohio
Rounding up the top 10 came Columbus. As the capital city of Ohio, it boasts a diverse and robust economy with strengths in education, healthcare, finance, and technology. The city’s large student population, driven by Ohio State University, fuels innovation and a dynamic workforce. Columbus’s ongoing urban development and revitalization projects, combined with a relatively low cost of living, make it an attractive investment destination for those looking at burgeoning midwestern cities.

Massachusetts has 9 other investible cities in America:

41. Newton
As one of the wealthiest cities in the U.S., Newton boasts a highly educated population and a robust economy supported by a diverse range of industries. The city’s economy is diverse, with strengths in sectors such as healthcare, education, technology, finance, and professional services. Newton is home to several prestigious educational institutions, including Boston College, which contribute to a skilled workforce and foster innovation and entrepreneurship. Newton’s real estate market offers opportunities for investment in residential, commercial, and mixed-use properties, driven by high demand, limited supply, and the city’s desirable suburban setting.

53. Lynn
Situated along the North Shore of Massachusetts, Lynn benefits from its proximity to major transportation routes, including highways and commuter rail lines. The city’s economy is multifaceted, with strengths in industries such as healthcare, education, manufacturing, retail, and seafood processing. Lynn’s historical significance as a center for shoe manufacturing has evolved to include emerging sectors such as healthcare services and education, contributing to its economic resilience and diversity. Lynn’s real estate market offers opportunities for investment in residential, commercial, and mixed-use properties. The city’s historic architecture, waterfront views, and cultural amenities contribute to its attractiveness as a place to live and invest.

71. Quincy
Located just south of Boston, Quincy benefits from its proximity to the state capital and its access to major transportation routes, including Interstate 93 and the MBTA Red Line. The city’s economy is diverse, with strengths in industries such as healthcare, education, technology, finance, and maritime commerce. Quincy is home to several major employers, including healthcare institutions, universities, and financial services firms, providing job opportunities and economic stability. Quincy’s real estate market offers opportunities for investment in residential, commercial, and mixed-use properties.

85. Brockton
Situated in Plymouth County, Brockton benefits from its proximity to major transportation routes, including Routes 24 and 28, facilitating connectivity with Boston and other cities in the region. The city’s economy is diverse, with strengths in industries such as healthcare, education, manufacturing, retail, and professional services. Brockton is home to several healthcare facilities, educational institutions, and small businesses, providing job opportunities and economic stability for residents. Brockton’s real estate market offers opportunities for investment in residential, commercial, and mixed-use properties. The city’s historic architecture, cultural diversity, and affordable housing options contribute to its attractiveness as a place to live and invest.

168. Lawrence
Situated along the Merrimack River in northeastern Massachusetts, Lawrence benefits from its access to major transportation routes such as Interstate 495 and its proximity to Boston, Lowell, and New Hampshire, making it a hub for commerce, manufacturing, healthcare, and education. The city’s economy is diverse, with strengths in industries such as manufacturing, healthcare, education, retail, and hospitality. Lawrence has a rich industrial history, with textile mills once dominating its landscape, and today it is home to manufacturing companies, medical facilities, educational institutions like Northern Essex Community College, retail establishments, and cultural attractions, providing job opportunities and economic stability for residents. Lawrence’s real estate market offers opportunities for investment in residential, commercial, and mixed-use properties. 

201. Fall River
Fall River benefits from its access to major transportation routes such as Interstate 195 and its historical significance as a center for textile manufacturing and maritime trade. The city’s economy has evolved over time, with strengths in industries such as manufacturing, healthcare, education, retail, and tourism. Fall River is home to manufacturing facilities, medical centers, educational institutions like Bristol Community College, retail establishments, and historical landmarks such as Battleship Cove, providing job opportunities and economic stability for residents. Fall River’s real estate market offers opportunities for investment in residential, commercial, and waterfront properties.

216. Lowell
Lowell has access to major transportation routes such as Interstates 495 and 93, as well as its role as a hub for education, healthcare, manufacturing, and technology in the region. The city’s economy is diverse, with strengths in industries such as education, healthcare, manufacturing, technology, and tourism. Lowell is home to educational institutions like the University of Massachusetts Lowell, healthcare facilities such as Lowell General Hospital, manufacturing companies, technology startups, and historic sites like the Lowell National Historical Park, providing job opportunities and economic stability for residents. 

228. Springfield
The city’s economy is diverse, with strengths in industries such as healthcare, education, manufacturing, finance, and tourism. Springfield is home to major employers like Baystate Health, MassMutual Financial Group, Smith & Wesson, manufacturing facilities, educational institutions such as Springfield College, and tourism attractions like the Basketball Hall of Fame, providing job opportunities and economic stability for residents. Springfield’s real estate market offers opportunities for investment in residential, commercial, and mixed-use properties. The city’s historic neighborhoods, cultural attractions like the Dr. Seuss National Memorial Sculpture Garden, and recreational amenities contribute to its attractiveness as a place to live and invest.

239. Cambridge
Cambridge’s economy is dominated by industries such as technology, biotechnology, healthcare, education, and professional services. Cambridge is home to major employers like Harvard University, the Massachusetts Institute of Technology (MIT), biotechnology companies, technology startups, healthcare institutions, and research organizations, providing job opportunities and economic stability for residents. Cambridge’s real estate market offers opportunities for investment in residential, commercial, and mixed-use properties. The city’s diverse neighborhoods, cultural attractions like Harvard Square, and thriving arts scene contribute to its attractiveness as a place to live and invest.

Infographic showing the 250 most investible cities in America

“The most prosperous cities will be those that adapt, innovate, and provide an ecosystem where culture, technology, and education converge. It’s not just about the economic indicators; it’s about the spirit of the city and its ability to foster a community that thrives through changes” says Adam Garcia of The Stock Dork.