SAN JOSE, Calif., Aug. 13, 2015 /PRNewswire/ -- Move over
Beverly Hills, 90210. The ZIP
codes 02176 (Melrose, Mass.),
43085 (Worthington, Ohio) and
58103 (Fargo, N.D.) have pushed
past one of the nation's most recognizable postal codes and 32,000
others across the U.S. to top realtor.com®'s list of 10
Hottest ZIP Codes* for 2015.
ZIP codes making the list, announced today by
realtor.com®, a leader in online real estate services
operated by News Corp [NASDAQ: NWS], [NASDAQ: NWSA]; [ASX: NWS],
[ASX: NWSLV] subsidiary Move, Inc., are distinguished by healthy
housing dynamics, strong local employment and neighborhood "it
factors." Realtor.com®'s hotness ranking is determined
by the time it takes properties to sell and how frequently homes
are viewed in each ZIP code.
Top 10 Hottest ZIP
Codes Midyear 2015 (by rank)*
|
|
|
|
Rank
|
ZIP Code
|
Name
|
1
|
02176
|
Melrose,
Mass.
|
2
|
43085
|
Columbus, Ohio
(Worthington)
|
3
|
80122
|
Littleton, Colo.
(Centennial)
|
4
|
75023
|
Plano,
Texas
|
5
|
48375
|
Novi,
Mich.
|
6
|
78247
|
San
Antonio
|
7
|
63126
|
St. Louis
(Crestwood)
|
8
|
78729
|
Austin,
Texas
|
9
|
58103
|
Fargo,
N.D.
|
10
|
92010
|
Carlsbad,
Calif.
|
"Each locale on this list is emblematic of the key trends
driving housing this year – healthy local economics, job
opportunities and affordability," said Jonathan Smoke, chief economist for
realtor.com®. "For first-time home buyers, these
communities provide great opportunities to enter the housing
market, build a career, and raise a family; older generations are
able to build wealth and enjoy a variety of lifestyles."
High Demand, Fast-Moving Supply
In each top-ranked ZIP code, supply and demand are 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 45 percent, or 20 days, lower than
their respective metropolitan statistical areas. Centennial, Colo., has the nation's lowest
median age of inventory, with homes selling in approximately two
weeks. 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
often than their respective metros.
More Money, More Jobs
Income and employment are also contributing to the strong
housing markets in these ZIP codes. Median household income among
the Top 10 is $71,000, 20 percent
higher than their surrounding metropolitan statistical areas and 32
percent higher than the national average of $54,000. Moreover, the share of households
earning $100,000 or more is 32
percent, 22 percent higher than their respective markets and
one-third higher than the national average of 23 percent.
Unemployment rates in these metros have dropped five times
faster than other metros in the country in just the last year.
Detroit and St. Louis are the only metros experiencing
unemployment rates above 5 percent. ZIP codes on this list have an
average of 22 percent lower unemployment than their surrounding
metro areas.
Strong Markets for Millennials
Each of the neighborhoods on this list provides favorable
conditions for millennials considering a home purchase. The median
income of people ages 25-34 years old in these ZIP codes is 26
percent higher than their respective metros, and 50 percent higher
than the national average. In half of these areas, millennials earn
35 percent more than other age groups in the same ZIP code.
Novi, Mich., the St. Louis suburb of Crestwood, Mo., and Columbus suburb, Worthington, Ohio, rank high in affordability
with the median household able to afford 60-70 percent of the
inventory on the market.
"Choosing a neighborhood to call home is not just a product of
economic factors; it's an intensely personal decision," stated
Smoke. "Non-economic 'it factors' such as strong school systems,
short commutes and access to public transportation, as well as
close proximity to shopping and restaurants also play an integral
role in each market's popularity."
Market Highlights – Top 10 Hottest ZIP
Codes
- 02176 – Melrose, Mass. is close to both
Boston and Cambridge and has become a magnet for young
professionals and families due to its relative affordability,
access to public transportation and attractive downtown area.
- Population: 27,690
- Median income for households between the ages 25-34 years old
is $88,000, 67 percent higher than
the average millennial in the U.S.
- Market unemployment dropped by 14 percent year over year in the
last six months.
- Median list prices in June 2015
were 5 percent higher than the surrounding metro, and grew 5
percent year over year in both May and June.
- 43085 – Worthington, Ohio is a major relocation
market. It benefits from being part of the Columbus, Ohio metro, which offers stable
employment and is the headquarters of a number of financial
services and insurance companies – such as Nationwide Mutual
Insurance Company and Huntington Bancshares Inc. – as well as The
Ohio State University.
- Population: 13,837
- Listings receive an average of 1,000 views per month – nearly
three times more views than the rest of the metro, and seven times
more than the national average.
- Market unemployment is one of the lowest in the country – about
40 percent lower than the rest of the metro.
- Median list prices in June were 26 percent higher than the
surrounding metro, and grew 10 percent year over year during the
first half of the year.
- 80122 – Centennial, Colo., a suburb of
Littleton, is centrally located south of Denver at the intersection of I-70, which
traverses the girth of the U.S. from Ohio to Utah,
and I-25, which cuts a swath from New
Mexico to Wyoming.
Centennial boasts a major retail
presence and proximity to the area's largest employer, Lockheed
Martin, and a new Charles Schwab
campus opened in October 2014 that is
expected to employ approximately 2,000.
- Population: 30,457
- Median income for 25-35 year old households is $88,000, 67 percent higher than the average
millennial in the U.S. and 48 percent higher than the average
millennial in the metro area.
- Houses spend approximately two weeks on the market – the
shortest number of days on market in the U.S.
- Market unemployment dropped 20 percent year over year in the
last six months.
- 75023 – Plano, Texas is a suburb of Dallas, and home to the corporate headquarters
of Dell Services, Dr. Pepper Snapple Group, Ericsson and Frito-Lay
Inc., as well as the future headquarters of Toyota Motors
USA. Plano is also home to a new $2 billion, 240 acre mixed-use development,
Legacy West, which is bringing more businesses and thousands of new
jobs to the area.
- Population: 46,733
- Listings receive nearly 1,200 views per month on average, 2.4
times more views than the rest of the metro and eight times more
than the national average.
- Civilian labor force unemployment dropped 22 percent year over
year over the last six months.
- Share of $100,000 earning
households is 36 percent and will increase to 40 percent by 2020
based on the latest five-year projections from Nielsen
Demographics.
- 48375 – Novi, Mich. is near the General
Motors Technical Center in Warren,
Mich., the General Motors Proving Grounds in Milford, Mich., as well as the Ford
headquarters in Dearborn, Mich.,
and is home to some of the region's largest healthcare systems. It
is centrally located with quick access to highways, the
Detroit airport and a re-emerging
downtown Detroit. The Novi Community School District is also a major
draw for this ZIP code.
- Population: 22,189
- Median income for 25-34 year old households is $80,000, 50 percent higher than the average
millennial household in the U.S.
- Civilian labor force unemployment is 57 percent lower than in
the rest of the metro, and has dropped by 30 percent year over
year.
- Median list prices in June were 22 percent higher than the
metro.
- 78247 – San Antonio. Located in the city's North
Central district, 78247 is within San Antonio city limits that offers a suburban
feel. San Antonio is home to the
corporate headquarters of USAA, Valero Energy Corporation,
Rackspace, NuStar Energy L.P. and Harland
Clarke. Coined "Military City USA," San
Antonio has a large military presence with about 100,000
people employed by the armed forces.
- Population: 49,514
- Households and population have grown 7 percent in the past five
years, two times faster than the rest of the country.
- Share of $100,000 earning
households is expected to grow by 15 percent by 2020.
- Median list prices in June were 33 percent lower than the
metro, and grew 7 percent year over year during the first half of
the year.
- 63126 – Crestwood, Mo. is a suburb of
St. Louis. Home prices and quality
of schools combined to propel Crestwood to No. 7 on the Top 10 list. The
average cost of a home is about half the price of the neighboring
ZIP codes of historic Kirkwood and
Webster Groves. Crestwood is the most inexpensive community
that feeds into Lindbergh Schools – a district that has received
national honors and several state awards.
- Population: 11,942
- Median income for 25-34 year old households in this ZIP code is
$73,000, 40 percent higher than the
average millennial household in the U.S. and 38 percent higher than
the average millennial in the metro area.
- Civilian labor force unemployment is one of the lowest in the
country and about 40 percent lower than the surrounding metro.
- Home ownership rate is one the highest in the country at 84
percent, almost 20 percent higher than the U.S.
- 78729 – Austin, Texas. One of 78 ZIP codes in
Austin, 78729 is located on the
city's north side, incorporating the residential Jollyville
neighborhood, which offers prime access to many of the city's major
tech companies, including Apple, IBM and Dell. Jollyville feeds
into one of the best school districts in the area, Round Rock ISD,
and offers affordably priced homes, perfect for first-time buyers.
- Population: 26,906
- Median income for 25-34 year old households in this ZIP code is
$73,000, 40 percent higher than the
average millennial household in the U.S.
- Share of $100,000 earning
households is expected to grow 23 percent by 2020.
- Population of millennials ages 25-34 is 23 percent, 75 percent
higher than the U.S. average.
- 58103 – Fargo, N.D. A ZIP code that incorporates
many smaller residential neighborhoods, 58103 is just southwest of
Fargo's downtown district. It is
located just miles from the North Dakota State
University campus, and provides many housing options for
first-time home buyers. Ranked as the fourth fastest growing
metropolitan area by the U.S. Census Bureau, Fargo is home to robust healthcare,
technology, agriculture and education industries with corporate
offices for Microsoft and Sanford Health.
- Population: 48,859
- Median household income has grown 7 percent year over year, and
is forecasted to grow 17.5 percent by 2020, nearly three times
faster than the national average.
- Civilian labor force unemployment is one of the lowest in the
country.
- Population of millennials ages 25-34 is 20 percent, 50 percent
higher than the U.S. average.
- 92010 – Carlsbad, Calif., nicknamed the "Village by the
Sea," is a tourist destination known for its Legoland theme park.
It has four ZIP codes, two of which are right on the coast and
extremely pricey. Prices in this region have been steadily
increasing over the last 18 months. Located farther from the beach
than the others, 92010 offers buyers a big selection of
multi-family units, which is a way to get into the real estate
market for under $600,000.
- Population: 14,986
- Share of $100,000 earning
households is 35 percent, 55 percent higher than the U.S.
average.
- Median household income in this ZIP code is $71,000, 16 percent higher than in the rest of
the metro.
- Median list prices were $664,000
in June, 33 percent higher than the metro. They also grew 10
percent year over year during the first half of the year.
Top 50 Hottest ZIP
Codes Midyear 2015 (by rank)*
|
|
|
|
|
|
|
|
Rank
|
ZIP Code
|
Name
|
|
Rank
|
ZIP Code
|
Name
|
1
|
02176
|
Melrose,
Mass.
|
26
|
50010
|
Ames,
Idaho
|
2
|
43085
|
Columbus,
Ohio
|
27
|
20151
|
Chantilly,
Va.
|
3
|
80122
|
Littleton,
Colo.
|
28
|
28273
|
Charlotte,
N.C.
|
4
|
75023
|
Plano,
Texas
|
29
|
97214
|
Portland,
Ore.
|
5
|
48375
|
Novi,
Mich.
|
30
|
67212
|
Wichita,
Kan.
|
6
|
78247
|
San Antonio,
Texas
|
31
|
94503
|
American Canyon,
Calif.
|
7
|
63126
|
Saint Louis,
Mo.
|
32
|
97078
|
Beaverton,
Ore.
|
8
|
78729
|
Austin,
Texas
|
33
|
62629
|
Chatham,
Ill.
|
9
|
58103
|
Fargo,
N.D.
|
34
|
48103
|
Ann Arbor,
Mich.
|
10
|
92010
|
Carlsbad,
Calif.
|
35
|
95687
|
Vacaville,
Calif.
|
11
|
94115
|
San Francisco,
Calif.
|
36
|
80501
|
Longmont,
Colo.
|
12
|
07028
|
Glen Ridge,
N.J.
|
37
|
95661
|
Roseville,
Calif.
|
13
|
37210
|
Nashville,
Tenn.
|
38
|
03110
|
Bedford,
N.H.
|
14
|
14625
|
Rochester,
N.Y.
|
39
|
68701
|
Norfolk,
Neb.
|
15
|
66214
|
Overland Park,
Kan.
|
40
|
98112
|
Seattle,
Wash.
|
16
|
91354
|
Valencia,
Calif.
|
41
|
30269
|
Peachtree City,
Ga.
|
17
|
94954
|
Petaluma,
Calif.
|
42
|
23233
|
Henrico,
Va.
|
18
|
59102
|
Billings,
Mont.
|
43
|
06092
|
West Simsbury,
Conn.
|
19
|
95008
|
Campbell,
Calif.
|
44
|
49534
|
Grand Rapids,
Mich.
|
20
|
80603
|
Brighton,
Colo.
|
45
|
21042
|
Ellicott City,
Md.
|
21
|
02048
|
Mansfield,
Mass.
|
46
|
68144
|
Omaha,
Neb.
|
22
|
27560
|
Morrisville,
N.C.
|
47
|
46804
|
Fort Wayne,
Ind.
|
23
|
14221
|
Buffalo,
N.Y.
|
48
|
01772
|
Southborough,
Mass.
|
24
|
93433
|
Grover Beach,
Calif.
|
49
|
93004
|
Ventura,
Calif.
|
25
|
40205
|
Louisville,
Ky.
|
50
|
32792
|
Winter Park,
Fla.
|
*Methodology: Ranking for this list is based on
realtor.com®'s Combined Hotness Index for the Jan. –
June 2015 time period. The index
scores all ZIP codes with 14+ active listings and ranks them on the
basis of realtor.com® listing views (to assess demand)
and median age of inventory (to assess supply). Each of these
metrics is equally weighted and averaged out over the six-month
period. This report utilizes data from realtor.com®
listings database, where 90 percent of its for-sale listings are
updated every 15 minutes from more than 800 multiple listing
services (MLS).
Supporting Resources
- Read more about realtor.com®
- Follow @realtordotcom on Twitter
- Like realtor.com® on Facebook
About Move, Inc. and realtor.com®
Move, Inc., a subsidiary of News Corp, is a leading provider of
online real estate services. Move operates the
realtor.com® website and mobile experiences, which
connect people to the most important and accurate information they
need to find their perfect home and to the REALTORS®
whose expertise guides consumers through buying and selling. As the
official website of the National Association of
REALTORS®, realtor.com® empowers consumers to
make smart home-buying, selling and renting decisions by leveraging
its direct, real-time connections with more than 800 multiple
listing services (MLS) via all types of computers, tablets and
smartphones. In addition to the industry's most comprehensive and
accurate information, Move's network of websites provides consumers
a wealth of innovative tools, including Doorsteps®,
Moving.com™, SeniorHousingNetSM and others. Move
supports real estate agents and brokerages by providing many
services to grow their businesses, including ListHub™, the nation's
leading listing syndicator and centralized intelligence platform
for the real estate industry; TigerLead®; Top
Producer® Systems; and FiveStreetSM; as well
as many free services. Move is based in the heart of Silicon Valley
– in San Jose, Calif.
Forward-Looking Statements
This document contains certain "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. These statements are based on management's views and
assumptions regarding future events and business performance as of
the time the statements are made. Actual results may differ
materially from these expectations due to changes in global
economic, business, competitive market and regulatory and other
factors. More detailed information about these and other factors
that could affect future results is contained in News Corp's
filings with the Securities and Exchange Commission. The
"forward-looking statements" included in this document are made
only as of the date of this document and we do not have any
obligation to publicly update any "forward-looking statements" to
reflect subsequent events or circumstances, except as required by
law.
Contact:
Move, Inc. – Lexie Puckett, (805)
557-3151, Lexie.Puckett@move.com
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/10-zip-codes-rise-above-32000-to-create-realtorcoms-2015-list-of-hottest-us-housing-locales-300128019.html
SOURCE realtor.com