Takeaways:
- Most of the “hottest” ZIP codes for housing encompass submarkets or suburbs of larger metros.
- 02176 in Melrose, Massachusetts — a submarket of Boston — is the hottest ZIP for housing in the nation.
- The rankings are determined by the time it takes properties to sell and the frequency in which homes are viewed in each ZIP code.
Most of the “hottest” ZIP codes for housing encompass submarkets or suburbs of larger metros.
According to a recent hotness ranking compiled by Move Inc.’s realtor.com, 02176 in Melrose, Massachusetts — a submarket of Boston — is the hottest ZIP for housing in the nation, followed by 43085 (Worthington, Ohio) and 80122 (Centennial, Colorado). The latter ZIP codes are submarkets of Columbus, Ohio, and Denver, Colorado, respectively.
The rankings are determined by the time it takes properties to sell and the frequency in which homes are viewed in each ZIP code.
Move Inc. notes that Centennial, Colorado, has the nation’s lowest median age of inventory, with homes selling in approximately two weeks.
Other hot ZIPs located outside of larger metros included:
- 75023 — Plano, Texas (submarket of Dallas)
- 48375 — Novi, Michigan (submarket of Detroit)
- 63126 — Crestwood, Missouri (submarket of St. Louis)
- 92010 — Carlsbad, California (submarket of San Diego)
The ZIP code 58103 — Fargo, North Dakota — also made the top 10.
Novi, Michigan; Crestwood, Missouri; and Worthington, Ohio, all rank high in affordability, with the median household able to afford 60 to 70 percent of inventory on the market.
Two hot ZIPs located within primary markets are 78247 San Antonio (the city’s north central district) and 78729 Austin (the city’s north side).
Supply and demand in each top-ranked ZIP is about five times stronger than the rest of the country.
Homes in these communities sell four to nine times faster than the national average, with days on market 20 days lower than their respective metropolitan statistical areas.
Additionally, listings in each area are viewed three to eight times more often than overall U.S. listings, and an average of 2.3 times more than their respective metros.
Unemployment rates in these ZIPs have dropped five times faster than other metros in the country.
Lastly, each of the ZIPs cited provides “favorable conditions” for millennials eyeing a home purchase. The median income of people ages 25 to 34 in these locales is 26 percent higher than their respective metros and 50 percent higher than the national average.
