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Finding the next hot spot can prove to be a real estate winner for a homeowner. But which cities or towns are poised to be the next big thing in real estate—yet are still affordable to purchase a home now?
Realtor.com®’s research team identified the affordable metros that have emerging young professional cultural scenes—like bike shops, food trucks, breweries, and farmers markets—and where these young buyers can still find relatively affordable homes. They also believe these areas will prove to be a good long-term investment too. Realtor.com® evaluated 300 of the nation’s largest metro areas to also factor in which areas are seeing an increase in its population of 25- to 34-year-olds moving to the area (from 2018 to 2019, the latest Census data available). They limited the list of places to those that had median home list prices of $400,000 or under in November.
Several smaller cities in the Northeast and Midwest and some larger ones in the South landed on their radar.
Here are seven affordable trendy cities that topped their list as ones to watch in 2022:
1. Savannah, Ga.
- Median listing price: $340,403
2. New Orleans
- Median listing price: $348,500
3. Philadelphia
- Median listing price: $312,450
4. New Haven, Conn.
- Median listing price: $329,950
5. Sioux City, Iowa
- Median listing price: $193,450
6. Albany, N.Y.
- Median listing price: $319,900
7. Kalamazoo, Mich.
- Median listing price: $189,000