Over the past few years, the housing market has been a story of haves and have-nots.
Those who already own a home are in a good place, as the recent rise in values has left them flush with equity. But millions of renters have been deprived of prices for owning a home. Many wonder if they will ever be able to afford their share of the American dream.
Fortunately, the answer is “yes”, especially for those who want to move to a more affordable location.
Recently, The Wall Street Journal and Realtor.com joined forces to publish their Emerging Markets Housing Index for summer 2022.
The index singles out some of the best cities for those looking for great communities with a bright future. Many of the markets on the list offer a “critical dose of affordable housing,” the report said.
Other markets that made the top 10 have higher priced homes, but are still “good places to buy a home for owners and investors, with price appreciation expectations complementing vibrant communities and diverse,” according to the report.
Here are the top emerging real estate markets in the United States
10. Visalia-Porterville, CA
Average home price in June: $415,995
Population: 468 680
This inland region of California has it all: living in the city near Sequoia National Park.
A few years ago we noted that Visalia-Porterville was among the happiest communities in the United States
9. Topeka, Kansas
Average home price in June: $225,000
Population: 230 878
If you’re looking for affordability, don’t overlook Topeka: it recently compiled a list of the “10 Cheapest Places to Buy a Home in America.”
8. North Port-Sarasota-Bradenton, Florida
Average home price in June: $598,500
Population: 854 684
Older home buyers may want to take a look at this area of Florida. The Gulf Coast region made the list of “25 Best Cities to Retire in Florida.” Just beware that the price here is higher than many other places on the list.
7. Rapid City, South Dakota
Average home price in June: $409,900
Population: 144 514
If you’re thinking of moving to Rapid City, don’t wait: the city is #1 on the list of “10 Small Housing Markets That Are Hot Now,” so competition for housing here is rapidly heating up. .
6. Raleigh, North Carolina
Average home price in June: $499,950
Population: 1.42 million
This state capital is the largest city on the list. Raleigh would be a great choice for someone who wants to live downtown in a more digestible portion of the big metros.
5. Billings, Montana
Average home price in June: $544,000
Population: 183 799
Seniors on the go should consider Billings, home to Montana State University. Those who are 65 or older can get a tuition waiver when taking courses.
4.Fort Wayne, Indiana
Average home price in June: $286,400
Population: 416 565
In a sea of overpriced real estate markets, Fort Wayne is an island of affordability. It finished #1 on the “10 Best Cities to Buy an Affordable Family Home” list.
3. Johnson City, TN
Average home price in June: $350,000
Population: 204 540
If you love hiking and great scenery, Johnson City might be calling your name. It is located just west of the Blue Ridge Mountains.
2. Burlington, North Carolina
Average home price in June: $380,150
Population: 171 346
If Raleigh is too big for your tastes, another nearby North Carolina city – Burlington – might be a great option. The city is home to Laboratory Corporation of America, one of the largest biomedical testing companies in the world.
1. Elkhart-Goshen, Indiana
Average home price in June: $279,450
Population: 206 161
Just a few years ago, we pointed out that Elkhart had one of the fastest job growth rates in the United States. The vast majority of recreational vehicles in the country are manufactured here.
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