In Less Than a Decade, You’ll Wish You Bought a Home in These 14 Metros
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In Less Than a Decade, You’ll Wish You Bought a Home in These 14 Metros
Although the housing market is often spoken of in aggregate, variations and pricing and market performance can be very localized. For example, according to data from Zillow, the anticipated one-year growth rate for homes prices in the U.S. as a whole is 1.7%, with a median price of $395,220 expected to be reached in 2033. But in fast-growing markets like Columbia, Missouri, that anticipated rate is 6.4% -- more than three times the national average.
See: These Are the 10 Most Overpriced Housing Markets in the US -- 5 Are in Florida
Learn: 3 Things You Must Do When Your Savings Reach $50,000
To determine which are the most attractive cities in which to buy real estate over the coming decade, GOBankingRates looked at homes that are currently priced below the national median of $333,910 with anticipated growth rates in excess of the projected 1.7% national rate. We issued a caveat that of course home prices don't move in a strictly linear fashion; however, the anticipated one-year growth rate was used primarily to identify housing markets that are moving in the right direction. Cities fulfilling this criteria -- and with prices expected to exceed the national average at some point over the next data -- are included here in the reverse order of their rankings.
14. Dover, Delaware
March 2023 Home Value: $327,620
1-Year Growth Projection: 2.1%
Year Projected Home Value Will Surpass the US Average: 2028
2028 Projected Home Value: $363,496
2033 Projected Home Value: $403,300
Homes in Dover are currently just a touch below the national average. But even though prices aren't growing exceptionally fast, they are projected to break through the national average in just five years.
Read: 5 Expensive Renovations Homeowners Always Regret
More: 10 US Cities With Plenty of Jobs and Cheap Housing
13. Lakeland, Florida
March 2023 Home Value: $312,534
1-Year Growth Projection: 2.6%
Year Projected Home Value Will Surpass the US Average: 2031
2031 Projected Home Value: $383,775
2033 Projected Home Value: $403,991
CBS MoneyWatchThese are the 5 hottest real estate markets in the U.S.
Midsize towns in the South offer a strong mix of job growth and affordable homes, according to a Bankrate analysis.
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