Zillow launched its annual list of “hottest cities” this week, and the Northeast dominated for the second yr in a row—Connecticut alone took 4 spots within the prime 10. Zillow analyzed housing metrics, together with shopper demand, page-view visitors, house worth development, and the way rapidly houses promote to create the listing.
The most popular city of 2024 general is Manchester, New Hampshire. Zillow notes that regardless of “rising curiosity amongst house buyers,” contributing to house 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 listing are thought of “exurbs,” outlined by Zillow as “charming smaller cities located past the suburbs but inside commuting distance of a serious metropolitan space.”
“In one other yr of upper mortgage charges, areas of affordability and alternative have been heart stage in 2024,” stated Zillow Chief Economist Skylar Olsen in a press release. “With the rise of hybrid work fashions, extra individuals are discovering hidden-gem cities they could have beforehand missed when each day commutes have been the norm. Consumers are searching for out places that supply the right combination of inexpensive dwelling and life-style facilities. Including to the value 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 listing, regardless of it being the No. 1 market in 2021. The Midwest additionally took two spots.
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Manchester, New Hampshire skyline alongside the banks of the Merrimack River in autumn – Getty
Listed here 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 information on particular areas. Here is a take a look at some standouts.
The most well-liked massive metropolis: Toledo, Ohio
The standard house in Toledo is value $121,000, which makes it makes it an “enticing possibility for patrons searching for affordability,” based on Zillow information. Toledo can also be near Lake Erie and has a “thriving artwork scene.”
For giant 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 most well-liked small city: Elizabethtown, Pennsylvania
A two-hour drive from Pennsylvania’s state capital, Philadelphia, the No. 1 small city on the listing is Elizabethtown, which has “picturesque streets, native retailers, and parks,” per Zillow.
Elizabethtown solely has a inhabitants of around 12,000, however houses there usually go beneath contract inside 5 days of being available on the market, the report notes.
Different cities that made the listing 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 most well-liked coastal metropolis: Milford, Connecticut
Milford affords 17 miles of shoreline alongside Lengthy Island Sound, which helped it grow to be the most well-liked coastal metropolis for 2024.
Additionally in Connecticut, West Haven took No. 2, whereas South Portland, Maine, secured the third spot on the listing.
Santa Cruz, California, and Barnstable, Massachusetts, full the highest 5.
Autumn in Milford, Connecticut – Getty