The U.S. housing market is filled with potential financial landmines but if you are looking at a certain area you might want to buy before the buying exceeds your budget.
While some markets have cooled after the pandemic-induced boom, others are poised for significant growth through the end of 2024 and throughout 2025. Various factors, including migration trends, job market expansion, infrastructure development and housing supply constraints, contribute to these regions becoming real estate hotbeds.
GOBankingRates recently conducted a study to find which markets are quickly growing based on increased home value year over year. The statistical growth from 2023 to 2024 can be used as a good indicator of how those markets are projected to continuously grow in 2025. Here are 20 housing markets estimated for growth that you should consider investing in for 2025.
1. Rockford, Illinois
- August 2023 average home value: $176,316
- August 2024 average home value: $195,509
- One-year home value change (%): 10.89%
- One-year home value change ($): $19,194
2. Syracuse, New York
- August 2023 average home value: $215,526
- August 2024 average home value: $238,689
- One-year home value change (%): 10.75%
- One-year home value change ($): $23,162
3. San Jose, California
- August 2023 average home value: $1,411,721
- August 2024 average home value: $1,562,939
- One-year home value change (%): 10.71%
- One-year home value change ($): $151,218
4. Hartford, Connecticut
- August 2023 average home value: $333,625
- August 2024 average home value: $365,085
- One-year home value change (%): 9.43%
- One-year home value change ($): $31,460
5. Binghamton, New York
- August 2023 average home value: $169,454
- August 2024 average home value: $185,020
- One-year home value change (%): 9.19%
- One-year home value change ($): $15,566
6. New Haven, Connecticut
- August 2023 average home value: $342,728
- August 2024 average home value: $372,992
- One-year home value change (%): 8.83%
- One-year home value change ($): $30,264
7. Atlantic City, New Jersey
- August 2023 average home value: $332,870
- August 2024 average home value: $361,554
- One-year home value change (%): 8.62%
- One-year home value change ($): $28,684
8. Trenton, New Jersey
- August 2023 average home value: $389,573
- August 2024 average home value: $423,014
- One-year home value change (%): 8.58%
- One-year home value change ($): $33,441
9. Bridgeport, Connecticut
- August 2023 average home value: $578,561
- August 2024 average home value: $626,365
- One-year home value change (%): 8.26%
- One-year home value change ($): $47,803
10. Norwich, Connecticut
- August 2023 average home value: $359,126
- August 2024 average home value: $388,652
- One-year home value change (%): 8.22%
- One-year home value change ($): $29,526
11. San Diego
- August 2023 average home value: $872,580
- August 2024 average home value: $942,645
- One-year home value change (%): 8.03%
- One-year home value change ($): $70,065
12. Kingsport, Tennessee
- August 2023 average home value: $216,353
- August 2024 average home value: $233,467
- One-year home value change (%): 7.91%
- One-year home value change ($): $17,114
13. Rochester, New York
- August 2023 average home value: $239,538
- August 2024 average home value: $258,227
- One-year home value change (%): 7.80%
- One-year home value change ($): $18,690
14. Manchester, New Hampshire
- August 2023 average home value: $455,143
- August 2024 average home value: $489,533
- One-year home value change (%): 7.56%
- One-year home value change ($): $34,389
15. Utica, New York
- August 2023 average home value: $194,405
- August 2024 average home value: $208,997
- One-year home value change (%): 7.51%
- One-year home value change ($): $14,593
16. Providence, Rhode Island
- August 2023 average home value: $453,172
- August 2024 average home value: $487,161
- One-year home value change (%): 7.50%
- One-year home value change ($): $33,989
17. Worcester, Massachusetts
- August 2023 average home value: $425,668
- August 2024 average home value: $457,399
- One-year home value change (%): 7.45%
- One-year home value change ($): $31,731
18. Scranton, Pennsylvania
- August 2023 average home value: $197,599
- August 2024 average home value: $212,287
- One-year home value change (%): 7.43%
- One-year home value change ($): $14,688
19. Youngstown, Ohio
- August 2023 average home value: $150,977
- August 2024 average home value: $161,939
- One-year home value change (%): 7.26%
- One-year home value change ($): $10,961
20. Green Bay, Wisconsin
- August 2023 average home value: $289,825
- August 2024 average home value: $310,676
- One-year home value change (%): 7.19%
- One-year home value change ($): $20,851
Original Article [Source: www.gobankingrates.com]
