The 5 Best Housing Markets in the US
October 2, 2009
I know it sounds crazy, but YES! Despite the downward spiral of home values over the past year, there are actually major cities where current market values have been on the rise! Gathering data from Zillow’s second-quarter home value index and comparing it to the same time in 2008, it was discovered that a handful of cities seemed to be immune to the market crash!
Top Five Best Housing Markets for 2008-2009
And the winner is….
1) Boulder, Colorado
Share of Homes with Increased Value: 59.39% Median Home Value: $347,200
This great city is home to successful employers and the University of Colorado. In addition to steady jobs, this area is limited in the number of homes because of the Rocky Mountains which outline the skirts of the city and the vast amount of protected natural areas.
2) Spartanburg, SC
Share of Homes with Increased Value: 56.81% Median Home Value: $106,900
A mere 75 miles west of Charlotte, this bounding city is the first and only city in South Carolina to be named as a Bicycle-Friendly community by the League of American Bicyclists. It is home to three major colleges and universities as well as a few major corporation headquarters including Denny’s and Extended Stay Hotels. Still it maintains the ’small town feel’ featuring historic buildings and bridges that lend great history to this small town.
3) New Orleans, Louisiana
Share of Homes with Increased Value: $53.62% Median Home Value: $148,000
It’s no surprise here that this cities market value is growing. With the impact of hurricane Katrina in 2005, the construction business has been booming. Building houses from the ground up. In addition to more jobs being created daily, this famous parish also receives federal incentives, insurance money and private investments to help restore it to it’s former glory!
4) Binghamton, New York
Share of Homes with Increased Value: 53.61% Median Home Value: $112,300
There’s a reason this city, located in upstate New York, made it to the number three spot in the nation and that is that it remained fairly dormant during the housing bubble where elsewhere prices sky-rocketed. So when bubble finally burst and most other areas saw huge pitfalls in home value, Binghamton stayed pretty level. Another big factor is the town’s University - one of the nations highest ranked public universities.
5) Fayetteville, North Carolina
Share of Homes with Increased Value: 53.23% Median Home Value: $119,800
Fayetteville is right next door to Pope Air Force Base and Fort Bragg and so it heavily relies on military families. But the town also features three colleges and universities, several museums and a historic downtown popular with tourists. Are we starting to notice a trend though with housing markets and universities…? It sounds like if you’re looking for a sure bet in today’s market… you might be best off moving to your nearest college town!
Other honorable mentions go to Pittsburgh, PA with an increased value of 48.80%, median home value of $108,700 and to Little Rock, Arkansas, increased value of 46.96%, median home value of $121,200.