America’s Hottest Spots: The Call of the Midwest

Posted on Aug 6 2019 - 3:30pm by Suzanne De Vita
#0

hottest zip codes

Affordable homes. Jobs. Millennials. The Midwest has 'em all, according to a new ranking by realtor.com®, identifying the most sought-after zip codes in the U.S.

  1. Grand Rapids, Mich. – 49505

List Price (Median): $178,050

  1. Omaha, Neb. – 68144

List Price (Median): $238,950

  1. Boise, Idaho – 83704

List Price (Median): $289,950

  1. Shawnee, Kan. – 66203 (Kansas City Metro)

List Price (Median): $220,050

  1. Rochester, N.Y. – 14609

List Price (Median): $125,050

  1. Livonia, Mich. – 48154 (Detroit Metro)

List Price (Median): $254,950

  1. Melrose, Mass. – 02176 (Boston Metro)

List Price (Median): $629,050

  1. Arlington, Texas – 76108

List Price (Median): $215,050

  1. Goffstown, N.H. – 03045 (Manchester)

List Price (Median): $325,050

  1. Colorado Springs, Colo. – 80916

List Price (Median): $245,050

Related: These Are the Most Expensive Zip Codes in Every State

Of the neighborhoods in the top 10, four are located in the Midwest—an area attractive to millennials, because of burgeoning employment opportunities and practical prices. The area dominates hot housing market rankings, including the National Association of REALTORS®' recent "Most Popular Areas for Millennials," in which Grand Rapids—No. 1 in realtor.com's report—ranked, and SmartAsset's "Best Cities for Living the American Dream," in which five markets in the Midwest ranked in the top 10.

Two contenders in the Midwest in realtor.com's report, Livonia (No. 6) and Shawnee (No. 4), lean smaller, but aren't so far removed—an emerging trend, according to Danielle Hale, chief economist at realtor.com.

"Even though buyers are moving to smaller markets, they are looking to retain an urban lifestyle by living closer to the city center," Hale says. "This tells us that today's homebuyers are trying to have it all—proximity to downtown, room to grow and affordability—and they're finding it outside of the biggest cities in the U.S."

Beyond the Midwestern standouts, what links the neighborhoods in the top 10? Homes priced reasonably relative to the rest of the U.S. Across the top 10, the average home price is $272,000—about $45,000 less than the median nationally, $316,000. In these neighborhoods, for-sale homes move quickly—at an average 17 days—and draw in three times more realtor.com views.

Another common thread? Millennials in spades, and with cash to spend. Compared to the median for millennials nationally, across the top 10, Gen Y earns 13 percent more, and accounts for the majority of mortgages in nine of the 10 zip codes.

On the career front, there are promising prospects, as well, with 4.8 percent or less unemployment, and an anticipated growth in jobs—in five of the top 10, greater growth than the prediction for the U.S. as a whole. For more on the top 10:

hottest zip codes

Credit: realtor.com®

Leave A Response