Is There An Accepted Definition Of "suburban" Versus "rural"?

[Doug in NC]

Client is asking me to explain why my comps are over 2 miles away from the subject, but I have listed the house as being suburban. The house is in a defined neighborhood with other similar high-value houses on multi-acre sites, with HOA dues for light and street maintenance.

I can count on one hand the number of times I have described a property as being rural in my quarter century of appraising. I don't recall ever being taught what a rural property is exactly, but I have always thought of it as being a property that is maybe ten miles from the center of the nearest town with few other houses in sight, because most properties around would involve farming of 100+ acres of land. I guess 2 miles is the arbitrary distance set by someone in the lending industry to attempt to differentiate suburban from rural huh?

 

[Michigan CG]

If you pee in your front yard in suburbia you get arrested, you don't in rural areas.

 

[Meandering]

http://www.ncruralcenter.org/index.php?option=com_content&view=article&id=75

 

[Randolph Kinney]

http://www.ncruralcenter.org/index.php?option=com_content&view=article&id=75

Most counties are rural - Transylvania county is rural.

 

[Meandering]

Most counties are rural - Transylvania county is rural.

If you have a well and septic, you are rural.
If there are cows or cornfields or both, within walking distance, you are rural.
If there are no "I'm with her" signs, you are rural.

 

[Kitarkus]

Client is asking me to explain why my comps are over 2 miles away from the subject, but I have listed the house as being suburban. The house is in a defined neighborhood with other similar high-value houses on multi-acre sites, with HOA dues for light and street maintenance.

I can count on one hand the number of times I have described a property as being rural in my quarter century of appraising. I don't recall ever being taught what a rural property is exactly, but I have always thought of it as being a property that is maybe ten miles from the center of the nearest town with few other houses in sight, because most properties around would involve farming of 100+ acres of land. I guess 2 miles is the arbitrary distance set by someone in the lending industry to attempt to differentiate suburban from rural huh?

I'm late to this game....but if you can stand on your front porch nude and there is nobody there to notice you....its rural.

Many areas I describe as suburban/rural....based upon the presence of master planned developments within a larger rural community which is located outside of the bounds of any metroplex. This can be somewhat subjective I suppose....you can find out whether USDA provides lending in your market area and use this as a basis for a 'rural' description....though many of these areas I still describe as suburban/rural.

It sounds like your lender has a vested interest in whether you report the Subject as rural or suburban.

 

[Riick]

Comps within 2-3 miles - certainly not Rural
Multi-acre sites - certainly not Urban
Which leaves only one choice.
Point this out to the Lender, and tell them to stop worrying. Jeeze

 

[Mark K]

If you can legally deer hunt in your backyard, you're rural.

If not, you're probably suburban.

The well/septic scenario doesn't work in this area. There are well/septic areas inside city limits around here; same with cows/horses.

 

[EddieB]

Fannie denotes urban if comps are blocks. Suburban if comps are within a mile and urban beyond that. I add comments if comps exceed two or three miles stating that distance does not determine neighborhood designation. That works for me at least since I rarely have all comps within one mile

 

[Meandering]

Go with the definitions from the Census Bureau.