The Top 10 Emerging US Real Estate Markets

Coeur d'Alene, Idaho.

Coeur d'Alene, Idaho. iStockphoto.com/Jennifer_Sharp

 

Connecting state and local government leaders

These locations have home prices that are rising, strong economies and a wealth of activities, according to an analysis by Realtor.com and The Wall Street Journal.

Coeur d’Alene, a city in northwest Idaho, is considered the best real estate market in the U.S., according to Realtor.com and the data team at The Wall Street Journal. A popular vacation spot, the median home list price in Coeur d’Alene was $799,000 in March. 

Second on the list of top housing markets was Austin, Texas, where the median home list price was $520,000. Cities that rounded out the top five on the list are Springfield, Ohio ($144,900 median list price); Billings, Montana ($428,500); and Spokane, Washington ($434,900). The rest of the list includes Lafayette, Indiana ($297,450); Reno, Nevada ($562,000); Santa Cruz, California ($1,222,000); Concord ($362,450); and Manchester ($419,950), New Hampshire.

Home prices for these areas were an average $519,100, about 42% higher than the $366,100 median price tag across the 300 metros that were analyzed.

The quarterly Emerging Housing Markets index from Realtor.com/WSJ identified the places with large housing demand, rising home prices, robust economies, well-paid jobs and the amenities that make the location desirable. The list references the country’s 300 largest metropolitan areas, which include the main city and surrounding suburbs, towns and smaller urban areas.

The Covid-19 pandemic has led to more remote work and Americans are seeking out larger homes with more space. New U.S. houses are among the largest in the world, and their size-per-resident has nearly doubled in the past 50 years. 

According to the index, home prices are increasing and the number of dwellings for sale is at a new low. 

“The areas that top our emerging housing markets list are places that have weathered the pandemic relatively well,” said Realtor.com’s Chief Economist Danielle Hale. “Their economies are generally doing better than other markets, and they’re attracting a lot of home shoppers from other areas—likely in part due to the relatively widespread work-from-home flexibility in response to the pandemic.”

But homes in the top 10 markets aren’t cheap. Median list prices are up 27% in the past year compared with 14% nationwide, according to Realtor.com/WSJ. 

Meanwhile, a new report from the National Association of Realtors, which operates Realtor.com, suggests that mid-sized cities could be the ticket for millennials looking to purchase homes. And while some Americans want big homes, it has also been reported that other buyers are seeking smaller, more affordable alternatives in more expensive cities

To see more on the quarterly index click here.

Brent Woodie is an associate editor at Route Fifty.

FEATURED CASE STUDIES
Powered By The Atlas
Crowdfunding Capital for Sustainable Wastewater P3 Project in Los Fresnos, TX
Los Fresnos, TX 78566, USA
Pacifica launches online portal for equitable access to ADU resources and affordable housing needs
Pacifica, CA, USA
San Francisco activates online portal to streamline ADU development and help combat housing crisis
San Francisco, CA, USA

NEXT STORY: Report: Governments Need to Share More Data to Solve Complex Issues, Grow Economy

X
This website uses cookies to enhance user experience and to analyze performance and traffic on our website. We also share information about your use of our site with our social media, advertising and analytics partners. Learn More / Do Not Sell My Personal Information
Accept Cookies
X
Cookie Preferences Cookie List

Do Not Sell My Personal Information

When you visit our website, we store cookies on your browser to collect information. The information collected might relate to you, your preferences or your device, and is mostly used to make the site work as you expect it to and to provide a more personalized web experience. However, you can choose not to allow certain types of cookies, which may impact your experience of the site and the services we are able to offer. Click on the different category headings to find out more and change our default settings according to your preference. You cannot opt-out of our First Party Strictly Necessary Cookies as they are deployed in order to ensure the proper functioning of our website (such as prompting the cookie banner and remembering your settings, to log into your account, to redirect you when you log out, etc.). For more information about the First and Third Party Cookies used please follow this link.

Allow All Cookies

Manage Consent Preferences

Strictly Necessary Cookies - Always Active

We do not allow you to opt-out of our certain cookies, as they are necessary to ensure the proper functioning of our website (such as prompting our cookie banner and remembering your privacy choices) and/or to monitor site performance. These cookies are not used in a way that constitutes a “sale” of your data under the CCPA. You can set your browser to block or alert you about these cookies, but some parts of the site will not work as intended if you do so. You can usually find these settings in the Options or Preferences menu of your browser. Visit www.allaboutcookies.org to learn more.

Sale of Personal Data, Targeting & Social Media Cookies

Under the California Consumer Privacy Act, you have the right to opt-out of the sale of your personal information to third parties. These cookies collect information for analytics and to personalize your experience with targeted ads. You may exercise your right to opt out of the sale of personal information by using this toggle switch. If you opt out we will not be able to offer you personalised ads and will not hand over your personal information to any third parties. Additionally, you may contact our legal department for further clarification about your rights as a California consumer by using this Exercise My Rights link

If you have enabled privacy controls on your browser (such as a plugin), we have to take that as a valid request to opt-out. Therefore we would not be able to track your activity through the web. This may affect our ability to personalize ads according to your preferences.

Targeting cookies may be set through our site by our advertising partners. They may be used by those companies to build a profile of your interests and show you relevant adverts on other sites. They do not store directly personal information, but are based on uniquely identifying your browser and internet device. If you do not allow these cookies, you will experience less targeted advertising.

Social media cookies are set by a range of social media services that we have added to the site to enable you to share our content with your friends and networks. They are capable of tracking your browser across other sites and building up a profile of your interests. This may impact the content and messages you see on other websites you visit. If you do not allow these cookies you may not be able to use or see these sharing tools.

If you want to opt out of all of our lead reports and lists, please submit a privacy request at our Do Not Sell page.

Save Settings
Cookie Preferences Cookie List

Cookie List

A cookie is a small piece of data (text file) that a website – when visited by a user – asks your browser to store on your device in order to remember information about you, such as your language preference or login information. Those cookies are set by us and called first-party cookies. We also use third-party cookies – which are cookies from a domain different than the domain of the website you are visiting – for our advertising and marketing efforts. More specifically, we use cookies and other tracking technologies for the following purposes:

Strictly Necessary Cookies

We do not allow you to opt-out of our certain cookies, as they are necessary to ensure the proper functioning of our website (such as prompting our cookie banner and remembering your privacy choices) and/or to monitor site performance. These cookies are not used in a way that constitutes a “sale” of your data under the CCPA. You can set your browser to block or alert you about these cookies, but some parts of the site will not work as intended if you do so. You can usually find these settings in the Options or Preferences menu of your browser. Visit www.allaboutcookies.org to learn more.

Functional Cookies

We do not allow you to opt-out of our certain cookies, as they are necessary to ensure the proper functioning of our website (such as prompting our cookie banner and remembering your privacy choices) and/or to monitor site performance. These cookies are not used in a way that constitutes a “sale” of your data under the CCPA. You can set your browser to block or alert you about these cookies, but some parts of the site will not work as intended if you do so. You can usually find these settings in the Options or Preferences menu of your browser. Visit www.allaboutcookies.org to learn more.

Performance Cookies

We do not allow you to opt-out of our certain cookies, as they are necessary to ensure the proper functioning of our website (such as prompting our cookie banner and remembering your privacy choices) and/or to monitor site performance. These cookies are not used in a way that constitutes a “sale” of your data under the CCPA. You can set your browser to block or alert you about these cookies, but some parts of the site will not work as intended if you do so. You can usually find these settings in the Options or Preferences menu of your browser. Visit www.allaboutcookies.org to learn more.

Sale of Personal Data

We also use cookies to personalize your experience on our websites, including by determining the most relevant content and advertisements to show you, and to monitor site traffic and performance, so that we may improve our websites and your experience. You may opt out of our use of such cookies (and the associated “sale” of your Personal Information) by using this toggle switch. You will still see some advertising, regardless of your selection. Because we do not track you across different devices, browsers and GEMG properties, your selection will take effect only on this browser, this device and this website.

Social Media Cookies

We also use cookies to personalize your experience on our websites, including by determining the most relevant content and advertisements to show you, and to monitor site traffic and performance, so that we may improve our websites and your experience. You may opt out of our use of such cookies (and the associated “sale” of your Personal Information) by using this toggle switch. You will still see some advertising, regardless of your selection. Because we do not track you across different devices, browsers and GEMG properties, your selection will take effect only on this browser, this device and this website.

Targeting Cookies

We also use cookies to personalize your experience on our websites, including by determining the most relevant content and advertisements to show you, and to monitor site traffic and performance, so that we may improve our websites and your experience. You may opt out of our use of such cookies (and the associated “sale” of your Personal Information) by using this toggle switch. You will still see some advertising, regardless of your selection. Because we do not track you across different devices, browsers and GEMG properties, your selection will take effect only on this browser, this device and this website.