The Bureau of Labor Statistics reports that the healthcare sector alone will generate 3.2 million new wage and salary jobs between 2008 and 2018, mostly due to a rapid growth in the elderly population. And a growth of 12 percent is expected in the educational services industry over the same period. As a result, multifamily owners are starting to offer affordable, quality housing for growing numbers of healthcare and education workers in cities like New Haven, Conn., where education and health services account for 27.8 percent of total jobs.
With more employees in these sectors expected to rent in upcoming years, Ryan Severino, senior economist at New York-based Reis, Inc., thinks that education and medicine will continue to influence the rental market. “Even with the advent of things like online educational resources, cybermedicine, and medical tourism, these industries are more insulated against competition from technology and cheaper labor around the world,” he says. “It is unlikely that they would experience the erosion in jobs that have occurred in other sectors of the economy that were vulnerable to technological innovation, obsolescence, and cheap, competitive global labor.”
Here are the top 10 U.S. cities for education and healthcare jobs: