Zillow launched its annual listing of “hottest cities” this week, and the Northeast dominated for the second 12 months 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 rapidly properties promote to create the listing.
The hottest metropolis of 2024 general is Manchester, New Hampshire. Zillow notes that regardless of “rising curiosity amongst dwelling consumers,” contributing to dwelling values “leaping 7.3% over the previous 12 months, as much as $415,000,” it’s nonetheless cheaper than Boston, which is simply about an hour by automotive away.
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Although Manchester is New Hampshire’s largest metropolis, most locations on the listing 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 12 months of upper mortgage charges, areas of affordability and alternative had been middle stage in 2024,” stated Zillow Chief Economist Skylar Olsen in a press launch. “With the rise of hybrid work fashions, extra individuals are discovering hidden-gem cities they could have beforehand missed when day by day commutes had been the norm. Consumers are searching for out areas that provide 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 homeowners 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.
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 information on particular areas. Here is a have a look at some standouts.
The most well-liked giant metropolis: Toledo, Ohio
The everyday dwelling in Toledo is price $121,000, which makes it makes it an “engaging possibility for consumers searching for affordability,” in accordance with Zillow information. 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 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 outlets, and parks,” per Zillow.
Elizabethtown solely has a inhabitants of round 12,000, however properties there sometimes go beneath contract inside 5 days of being available on the market, the report notes.
Different cities that made the listing had 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 presents 17 miles of shoreline alongside Lengthy Island Sound, which helped it turn into the preferred 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