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News : Realtor.comŽ Names 2017's Hottest ZIP Codes in America

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10/19/2017 | 06:01 am

SANTA CLARA, Calif., Oct. 19, 2017 /PRNewswire/ -- Realtor.com(®), a leading online real estate destination operated by News Corp [NASDAQ: NWS, NWSA]; [ASX: NWS, NWSLV] subsidiary Move Inc., today announced its third annual list of the Hottest ZIP Codes in America, which illustrates the power of millennial gravitation toward affordable suburbs with local "it" factors.


For the second year in a row, Watauga (76148) leads the list, followed by Livonia (48154); Kentwood (49548); Medford, Mass., (02155); Littleton, Colo. (80123); Castro Valley, Calif., (94546); Colorado Springs, Colo., (80922); Overland Park, Kan., (66210); Mira Mesa, Calif. (92126), and Hilliard, Ohio (43026).


Realtor.com(®) analyzed 32,000 ZIP codes based on the time it takes properties to sell and how frequently homes are viewed in each ZIP code. Homes in this year's top 10 hottest markets sell in an average of 21 days - 50 days faster than in the rest of the country. Realtor.com(®) users view home listings in these markets four times more often than those in the rest of the country. One ZIP code was included per metro area.


"While low inventory is a challenge, millennials are the largest generation in U.S. history and they are flexing their muscle when it comes to the housing market," said Danielle Hale, chief economist for realtor.com(®). "Increasingly, the hottest housing markets are the ones that appeal to millennial preferences, and right now the standouts are relatively affordable suburbs with local 'it' factors such as hiking trails, great restaurants, and nightlife. With the largest cohort of millennials turning 30 in 2020, we can expect these types of areas to stay in demand in the years to come."


Key factors heating things up in the top 10 hottest markets:



-- Relative affordability. The median price for a home in these markets is
$360,000 - 1.4 times more than the national median - with prices in five
of the top 10 ZIPs exceeding the national average. However, when
compared to their immediate surrounding metro area, the median home
listing price is lower in six of the top 10 ZIPs and when compared to
the county, eight are lower.
-- Large shares of older millennials. Millennials aged 25 to 34 make up 17
percent of households in the top 10 ZIPs, compared to 15 percent
nationally. Older millennial households comprise a greater share of
households than their national share in eight out of the top 10 ZIPs.
They also make up the largest share of mortgage originations, with
25-to-34-year-olds accounting for 36 percent of mortgages and
35-to-44-year-olds making up 30 percent.
-- High millennial ownership rates. Eight of the top 10 ZIPs have a higher
home ownership rate among 25-to-34-year-olds than in their surrounding
county as a whole. The average 25-to-34-year-old home ownership rate in
top 10 ZIPs is 50 percent, compared to 39 percent in their respective
counties and 41 percent nationally.
-- Strong job markets. The top 10 ZIP codes are located in counties with an
average unemployment rate of 3.6 percent, well below the overall
national unemployment rate of 4.4 percent.
-- High salaries. In nine out of the top 10 ZIPS, the median household
income is higher than the national median. The average household income
among the top 10 is $75,829, 1.3 times the $57,462 national median. This
is true for millennial segment as well; the average household income for
25-to-34-year-olds in the top 10 is $74,635, 1.3 times the $55,871
national median.


Market Highlights - Top 10 ZIP Codes




1. 76148 - Watauga, Texas - Named the
hottest ZIP code for the second
consecutive year, due to its highly
competitive housing market and
desirable amenities. Watauga is an
inner suburb of Fort Worth that has a
young population, a strong economy and
schools that have been rated among the
best in the state. Residents also
benefit from being part of a vibrant,
multicultural metropolis, with great
restaurants and cultural offerings
like the Kimbell Art Museum and Fort
Worth Zoo.
--------------------------------------


Key housing stats: Average home listing
views in ZIP 76148 are up 28 percent
over last year, with homes receiving
five times more views than those in
the rest of the country. Homes in
Watauga sell in 18 days, 5 percent
slower than last year, with a median
list price of $160,441, up 12.4
percent over last year. Tarrant County
is expected to add 28,000 jobs this
year, an increase of 3 percent.


2. 48154 - Livonia, Mich. - A western
suburb of Metro Detroit, Livonia
combines the best parts of suburban
living with close proximity to the
great attractions of the resurgent
Motor City. It's just a half hour from
downtown destinations such as the
Detroit Institute of Art, the historic
Eastern Market commercial district and
the homes of four professional sports
teams. Livonia also is equally close
to many of the major employment
centers scattered throughout the
broader metro area, such as the
headquarters of Ford Motor Company in
Dearborn, Mich. and Beaumont Health in
Royal Oak, Mich. It has also been
ranked among the safest cities in
Michigan and boasts more than 60 parks
spread over 1,389 acres.
---------------------------------------


Housing stats: More than 86 percent of
millennials living in the ZIP own
their own homes, compared to only 44
percent in the surrounding county.
Homes in Livonia sell in 21 days, 25
percent more quickly than last year,
with a median list price of $223,780,
up 12.3 percent over last year. Wayne
County is expected to add 7,000 jobs
this year, an increase of 1 percent.


3. 49548 Kentwood, Mich. - Kentwood is
part of the Grand Rapids area, one of
the fastest-growing parts of the
country. In recent years, Grand Rapids
has become known for its booming
economy, huge annual public art
competition and a great local
microbrewery and dining scene.
Kentwood also is conveniently close to
the Gerald R. Ford airport, which has
been adding direct flights to major
destinations throughout the country.
--------------------------------------


Housing stats: The dominant buyer
segment in Kentwood is millennials,
who hold 42 percent of new mortgages
in the ZIP and have a 62 percent home
ownership rate. Homes in Kentwood sell
in 16 days, 49 percent more quickly
than last year, with a median list
price of $118,833, up 22.4 percent
over last year. Kent County is
expected to add 5,000 jobs this year,
an increase of 2 percent.


4. 02155 Medford, Mass. - Once overlooked
as a sleepy city northwest of downtown
Boston, Medford is now known for its
lively dining options, ample
recreation opportunities at Wright's
Park and along the Mystic River, and
the annual Mystic River Celebration
devoted to the arts. The area is home
to the renowned Tufts University, and
the T provides easy public
transportation access to downtown
Boston. Residents also enjoy a low tax
rate compared to other cities in the
region.
---------------------------------------


Housing stats: The dominant buyer
segment in Medford is millennials, who
make up 38 percent of new mortgage
holders. Homes in Medford sell in 19
days, roughly 41 percent more quickly
than last year, with a median list
price of $541,158, up 12.9 percent
over last year. Middlesex County is
expected to add 18,000 jobs this year,
an increase of 2 percent.


5. 80123 Littleton, Colo. - Situated on
the southwest edge of Denver, ZIP
80123 spans communities including
Littleton, Marston and Columbine
Valley. This suburban hotspot boasts
great shopping options, a fun and
historic downtown area and plenty of
great condo and single-family home
options. That's not to mention its
natural beauty and perfect placement
for outdoor enthusiasts: Littleton
alone features more than 59 parks and
an active trail system. Plus, only a
30 minute drive to the base of the
Rockies, it's one of the Denver
suburbs with the best mountain access.
---------------------------------------


Housing stats: The dominant buyer
segment in ZIP 80123 is millennials,
who hold 34 percent of new mortgages
in the area and have a median
household income of $72,126. Homes in
Littleton sell in 22 days, 19 percent
more quickly than last year, with a
median list price of $533,873, down
3.8 percent compared to last year.
Jefferson County is expected to add
5,000 jobs this year, an increase of 2
percent.


6. 94546 Castro Valley, Calif. - Castro
Valley is a Bay Area community
perfectly located for those who want
to live close to the thriving tech
scene in San Francisco and Silicon
Valley at more affordable prices.
Because of its central location - it
takes about the same time to get to
San Francisco, Silicon Valley and
Berkeley - it's especially good for
couples who work in different parts of
the region.
---------------------------------------


Housing stats: Millennials make up 35
percent of the new mortgage share in
ZIP 94546. Homes in Castro Valley sell
in 23 days, about 8 percent more
quickly than last year, with a median
list price of $728,267, up 6.9 percent
over last year. Alameda County is
expected to add 4,000 jobs this year,
an increase of 1 percent.


7. 80922 Colorado Springs, Colo. - Located
less than 25 minutes from Downtown
Colorado Springs, the Colorado Springs
Airport, and the University of
Colorado at Colorado Springs, ZIP
80922 is about as convenient as it
gets. That's especially true for the
thousands who work at the nearby
Peterson Air Force Base, but the area
is also perfect for those simply
seeking an active lifestyle: El Paso
County has been called one of the
healthiest counties in America.
Recreational activity options abound,
with miles of nearby trails for
hiking, biking, and horse riding.
---------------------------------------


Housing stats: The number of households
in the ZIP grew by 19.5 percent from
2010 - 2017, and it has a home
ownership rate of 80 percent among all
age groups and 68 percent among
millennials. Reflecting the high
concentration of military service
members in the area, 43 percent of new
mortgages in 80922 are guaranteed by
the U.S. Department of Veterans
Affairs. Homes in Colorado Springs
sell in 21 days, about 5 percent more
quickly than last year, with a median
list price of $273,322, up 4.6 percent
over last year. El Paso County is
expected to add 9,000 jobs this year,
an increase of 3 percent.


8. 66210 Overland Park, Kan. - Overland
Park gets high marks for all the major
factors: Top-rated schools,
affordable homes, and easy access to
shopping and attractions like Kansas
City, Mo.'s highly rated Nelson-
Atkins Museum of Art. Near the
juncture of I-435 and I-69, ZIP
66210 also includes Sprint's
headquarters and the Kansas City metro
area's largest office park, the 50-
acre Corporate Woods.
---------------------------------------


Housing stats: Millennials already
comprise 20 percent of the area's
households and are the dominant buying
group in the area, holding 39 percent
of new mortgages. Homes in Overland
Park sell in 24 days, about 22 percent
more quickly than last year, with a
median list price of $236,454, up 0.5
percent over last year. Johnson County
is expected to add 3,000 jobs this
year, an increase of 1 percent.


9. 92126 Mira Mesa - ZIP 92126 encompasses
the San Diego community of Mira Mesa,
which was formerly populated mainly by
military families of the nearby Marine
Corps Air Station, Miramar - where
many Top Gun flight scenes were
filmed. Recently, Mira Mesa has become
a booming area with a diverse populace
and wide variety of independent
stores, restaurants and
microbreweries. Located 15 minutes
from the beach and bordered by a
5,800-acre nature preserve called
Mission Trails, Mira Mesa is also a
prime location for Southern
California-style recreation
enthusiasts.
---------------------------------------


Housing stats: From 2010 - 2017, the
number of households in ZIP 92126 grew
by 7.4 percent, compared to 5.7
percent in the U.S. as a whole. Homes
typically sell within 22 days, about
30 percent more quickly than last
year, with a median list price of
$536,394, up 2.4 percent over last
year. San Diego County is expected to
add 5,000 jobs this year, an increase
of 0.4 percent.


10. 43026 Hilliard, Ohio - A blend of
small-town historical charm, museums
and local eateries, Hilliard offers
great price-per-square-foot home
value and excellent schools. It also
provides residents a mix of small-
town historical charm, museums and
local eateries. On top of that, it's a
quick trip to Columbus, which is home
to Ohio State University, multiple
Fortune 500 Companies and the newly
opened Scioto Mile, a sprawling park
in the heart of the city.
---------------------------------------


Housing stats: The dominant buyer
segment in ZIP 43026 is millennials,
who hold 41 percent of new mortgages
and have a 59 percent home ownership
rate. Homes in Hilliard sell in 25
days, about 37 percent more quickly
than last year, with a median list
price of $259,011, up 24.8 percent
over last year. Franklin County is
expected to add 16,000 jobs this year,
an increase of 3 percent.





Top 50 Hottest Markets in America


Rank ZIP Name Realtor.com

Hotness Score
--- -------------

1 76148 Watauga, Texas 99.44
--- ----- -------------- -----

2 48154 Livonia, Mich. 99.36
--- ----- -------------- -----

3 49548 Grand Rapids, MI 99.19
--- ----- ---------------- -----

4 02155 Medford, Mass. 99.11
--- ----- -------------- -----

5 80123 Littleton, Colo. 98.76
--- ----- ---------------- -----

6 94546 Castro Valley, Calif. 98.70
--- ----- --------------------- -----

7 80922 Colorado Springs, Colo. 98.53
--- ----- ----------------------- -----

8 66210 Overland Park, Kan. 98.38
--- ----- ------------------- -----

9 92126 San Diego, Calif. 98.35
--- ----- ----------------- -----

10 43026 Hilliard, Ohio 98.33
--- ----- -------------- -----

11 95758 Elk Grove, Calif. 98.03
--- ----- ----------------- -----

12 83704 Boise, Idaho 97.85
--- ----- ------------ -----

13 40220 Louisville, Ky. 97.78
--- ----- --------------- -----

14 37214 Nashville, Tenn. 97.72
--- ----- ---------------- -----

15 14623 Rochester, N.Y. 97.44
--- ----- --------------- -----

16 68144 Omaha, Ne. 97.10
--- ----- ---------- -----

17 46815 Fort Wayne, Ind. 96.76
--- ----- ---------------- -----

18 67212 Wichita, Kan. 96.64
--- ----- ------------- -----

19 78247 San Antonio, Texas 96.25
--- ----- ------------------ -----

20 99336 Kennewick, Wash. 96.15
--- ----- ---------------- -----

21 02048 Mansfield, Mass. 96.02
--- ----- ---------------- -----

22 27511 Cary, N.C. 95.57
--- ----- ---------- -----

23 07016 Cranford, N.J. 95.45
--- ----- -------------- -----

24 78758 Austin, Texas 95.27
--- ----- ------------- -----

25 98121 Seattle, Wash. 95.19
--- ----- -------------- -----

26 55423 Minneapolis, Minn. 95.16
--- ----- ------------------ -----

27 63126 Saint Louis, Mo. 94.63
--- ----- ---------------- -----

28 14150 Tonawanda, N.Y. 94.34
--- ----- --------------- -----

29 4106 South Portland, Maine 94.14
--- ---- --------------------- -----

30 28273 Charlotte, N.C. 93.76
--- ----- --------------- -----

31 53129 Greendale, Wis. 93.72
--- ----- --------------- -----

32 32807 Orlando, Fla. 93.29
--- ----- ------------- -----

33 99203 Spokane, Wash. 93.19
--- ----- -------------- -----

34 85225 Chandler, Ariz. 92.89
--- ----- --------------- -----

35 20715 Bowie, Md. 92.54
--- ----- ---------- -----

36 01757 Milford, Mass. 92.42
--- ----- -------------- -----

37 97005 Beaverton, Ore. 91.92
--- ----- --------------- -----

38 03060 Nashua, N.H. 91.80
--- ----- ------------ -----

39 19341 Exton, Pa. 91.78
--- ----- ---------- -----

40 45430 Dayton, Ohio 91.66
--- ----- ------------ -----

41 46322 Highland, Ind. 91.18
--- ----- -------------- -----

42 84123 Salt Lake City, Utah 90.82
--- ----- -------------------- -----

43 55807 Duluth, Minn. 90.51
--- ----- ------------- -----

44 45240 Cincinnati, Ohio 90.46
--- ----- ---------------- -----

45 33624 Tampa, Fla. 90.32
--- ----- ----------- -----

46 80631 Greeley, Colo. 90.25
--- ----- -------------- -----

47 48197 Ypsilanti, Mich. 90.20
--- ----- ---------------- -----

48 37034 Chapel Hill, Tenn. 89.56
--- ----- ------------------ -----

49 28806 Asheville, N.C. 89.43
--- ----- --------------- -----

50 15209 Pittsburgh, Pa. 89.41
--- ----- --------------- -----


For more information about the list, please visit: research.realtor.com.


About realtor.com(®

)
Realtor.com(®) is the trusted resource for home buyers, sellers and dreamers, offering the most comprehensive source of for-sale properties, among competing national sites, and the information, tools and professional expertise to help people move confidently through every step of their home journey. It pioneered the world of digital real estate 20 years ago, and today helps make all things home simple, efficient and enjoyable. Realtor.com(®) is operated by News Corp [NASDAQ: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS(®). For more information, visit realtor.com(®).


Media Contacts:

Realtor.com®

Lexie Puckett Holbert - [email protected]



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