Zillow launched its annual checklist of “hottest cities” this week, and the Northeast dominated for the second yr in a row—Connecticut alone took 4 spots within the high 10. Zillow analyzed housing metrics, together with client demand, page-view site visitors, dwelling worth progress, and the way shortly houses promote to create the checklist.
The hottest metropolis of 2024 total is Manchester, New Hampshire. Zillow notes that regardless of “rising curiosity amongst dwelling buyers,” contributing to dwelling values “leaping 7.3% over the previous yr, as much as $415,000,” it’s nonetheless cheaper than Boston, which is simply about an hour by automobile away.
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Although Manchester is New Hampshire’s largest metropolis, most locations on the checklist are thought-about “exurbs,” outlined by Zillow as “charming smaller cities located past the suburbs but inside commuting distance of a significant metropolitan space.”
“In one other yr of upper mortgage charges, areas of affordability and alternative have been middle stage in 2024,” mentioned Zillow Chief Economist Skylar Olsen in a press launch. “With the rise of hybrid work fashions, extra individuals are discovering hidden-gem cities they may have beforehand missed when each day commutes have been the norm. Patrons are in search of out places that supply the correct mix of reasonably priced residing and life-style facilities. Including to the worth stress, new listings can stay sparse within the hottest spots as present house owners proceed to carry on and maintain again.”
Just one West Coast market made the checklist, regardless of it being the No. 1 market in 2021. The Midwest additionally took two spots.
Manchester, New Hampshire skyline alongside the banks of the Merrimack River in autumn – Getty
Listed below are the highest 10 hottest markets of 2024
1. Manchester, New Hampshire
2. Rockford, Illinois
3. Stamford, Connecticut
4. Columbia, Maryland
5. Bridgeport, Connecticut
6. Allentown, Pennsylvania
7. Peoria, Illinois
8. New Haven, Connecticut
9. Waterbury, Connecticut
10. Sunnyvale, California
Zillow additionally revealed knowledge on particular areas. Here is a take a look at some standouts.
The preferred massive metropolis: Toledo, Ohio
The everyday dwelling in Toledo is price $121,000, which makes it makes it an “engaging possibility for consumers in search of affordability,” in response to Zillow knowledge. Toledo can also be near Lake Erie and has a “thriving artwork scene.”
For big cities, San Jose, California, took No. 2, and Wichita, Kansas, holds the third spot.
Toledo Veterans’ Glass Metropolis Skyway Bridge – Getty
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The preferred small city: Elizabethtown, Pennsylvania
A two-hour drive from Pennsylvania’s state capital, Philadelphia, the No. 1 small city on the checklist is Elizabethtown, which has “picturesque streets, native retailers, and parks,” per Zillow.
Elizabethtown solely has a inhabitants of round 12,000, however houses there usually go beneath contract inside 5 days of being in the marketplace, the report notes.
Different cities that made the checklist have been No. 2 Vermilion, Ohio, and No. 3 Roscoe, Illinois.
Elizabethtown, Pennsylvania, October 7, 2020 – Putting in a New Yellow Passenger Vintage Coach – Getty
The preferred coastal metropolis: Milford, Connecticut
Milford affords 17 miles of shoreline alongside Lengthy Island Sound, which helped it turn out to be the preferred coastal metropolis for 2024.
Additionally in Connecticut, West Haven took No. 2, whereas South Portland, Maine, secured the third spot on the checklist.
Santa Cruz, California, and Barnstable, Massachusetts, full the highest 5.
Autumn in Milford, Connecticut – Getty