SANTA CLARA, Calif.,
April 18, 2016 /PRNewswire/
-- Realtor.com®, a leading online real estate
destination operated by News Corp [NASDAQ: NWS, NWSA]; [ASX: NWS,
NWSLV] subsidiary Move, Inc., today released its list of America's
Top 'Boom Towns'. Led by Gilbert,
Ariz. (85297); Los Angeles
(90012), and Dallas (75201), these
neighborhoods are striking it rich when it comes to new home
construction, job creation and an increasing number of households –
the gold mine for housing market growth.
"The strength of the residential real estate market is closely
correlated to growth in jobs and households," said Jonathan Smoke, chief economist for
realtor.com®. "The good news for these markets is that
these growth factors have already started to translate into new
construction. At the same time, it may be a year or so before some
markets on our list start to see an increase in inventory. If
anything, this is a road map for where builders should be thinking
about where to break ground next."
America's Top Boom Towns are demonstrating some of the strongest
growth in jobs, household formation, and housing starts across the
country. Every market on the list has experienced between one and
five times the average job growth of the top 100 counties in the
country. Household growth in each of these areas is between one and
seven times the average growth of the top 100 areas. New home
starts are between one and six times the average growth in the top
100 counties. Most importantly, each individual ZIP code is
projected to see a growth in households of between nine and 19
percent over the next five years.
America's Top Boom
Towns
|
|
Ranking
|
ZIP Code
|
ZIP Projected 5 YR HH
Growth
|
County HH Growth 2016
vs. Top 100
|
County Starts Growth
2016 vs. Top 100
|
County Job Growth
2016 vs. Top 100
|
1.
|
85297 (Gilbert,
Ariz.)
|
15.9%
|
7.6X
faster
|
5.7X more
|
5.8X more
|
2.
|
90012 (Los
Angeles)
|
8.8%
|
6.1X
faster
|
5.0X more
|
7.2X more
|
3.
|
75201
(Dallas)
|
14.9%
|
3.0X
faster
|
3.8X more
|
4.5X more
|
4.
|
33132
(Miami)
|
14.9%
|
3.0X
faster
|
3.0X more
|
4.8X more
|
5.
|
89179 (Las
Vegas)
|
19.4%
|
3.3X
faster
|
3.3X more
|
2.5X more
|
6.
|
98121
(Seattle)
|
11.9%
|
3.1X
faster
|
3.1X more
|
2.3X more
|
7.
|
27571 (Rolesville,
N.C.)
|
12.1%
|
1.7X
faster
|
2.4X more
|
1.3X more
|
8.
|
11249 (Brooklyn,
N.Y.)
|
9.2%
|
1.9X
faster
|
1.9X more
|
2.0X more
|
9.
|
60603
(Chicago)
|
18.9%
|
2.5X
faster
|
1.4X more
|
4.2X more
|
10.
|
30363
(Atlanta)
|
15.7%
|
1.6X
faster
|
2.3X more
|
1.4X more
|
Methodology:
Realtor.com® combined projected measures of job
creation, household formation and new construction for 2016 to
identify the top growth counties. Based on this information, the
top ZIP code for each county was identified based on its five year
projected household growth.
|
Boom Towns
1. 85297 Gilbert,
Ariz.
Largest Neighborhood: Power Ranch
Part of the Phoenix
metropolitan area, Gilbert is
located just over 30 miles east of downtown Phoenix in close proximity to where GoDaddy
and PetSmart® have significant operations. The
sunny neighborhood of 85297 is highly sought after by both
snowbirds and locals for its close proximity to golf courses and
country clubs. The biggest draw for locals is the strong school
district, Higley Unified School District, that's home to Centennial
Elementary, which was ranked No. 1 in the state in 2014.
- ZIP code 85297 is expected to see households grow by 15.9
percent over the next five years, 4.2 times faster than the rest of
Maricopa County, where more than
25,000 new housing starts and in excess of 53,000 new jobs are
forecast for 2016 – that's 5.7 and 5.8 times more than the average
of the top 100 counties in the country,
respectively.
2. 90012 Los Angeles
Largest Neighborhoods:
Historic, Cultural, Elysian Park, Mission Junction
Los Angeles is the
second-largest city in the U.S. The 90012 ZIP code is located in
central Los Angeles and
encompasses several neighborhoods, including Elysian Park, Mission
Junction, Little Tokyo and Chinatown. In recent years, the area has
seen a surge in interest among higher income residents, driven by
vibrant cultural offerings – such as the Walt Disney Concert Hill
and Dorothy Chandler Pavilion – restaurants and nightlife, as well
as new residential
development.
- ZIP code 90012 is expected to experience household growth of
8.8 percent over the next five years. Los
Angeles County is expected to see more than 22,000 new
housing starts and 65,000 new jobs created in 2016, five times and
7.2 times more than the average of the top 100 counties
in the country, respectively.
3. 75201 Dallas
Largest
Neighborhoods: Downtown, Arts District, Uptown, Farmers
Market
Located in downtown Dallas, the
75201 zip code is home to the Dallas Museum of Art, American
Airlines Center—where the city's National Basketball Association
and National Hockey League teams play – and is just steps away from
Baylor University Medical Center. This
neighborhood has undergone a dramatic transformation since the
early 2000s when the "Dallas Trinity River Project" began bringing
parks, trails, and nature centers in the area. Its close proximity
to major employers, shopping, restaurants and Klyde Warren Park make this neighborhood highly
sought after by millennials. Urban condos, lofts, and townhomes are
popping up everywhere.
- Households in 75201 are forecast to grow by 14.9 percent over
the next five years. Dallas County
is expected to see more than 16,000 new housing starts and 40,000
new jobs created in 2016, 3.8 times and 4.5 times more,
respectively, than the average of the top 100 counties in
the country.
4. 33132 Miami
Largest
Neighborhoods: Downtown, Midtown, Seaport
Famous for its beaches and warm climate, Miami is also a hub for finance, commerce,
culture, media, entertainment and the arts. Traditionally, downtown
Miami was a bustling business
center by day that became a ghost town by night, but urban
development with projects such as Miami Worldcenter have brought
tens of thousands of new residents to the area, many of whom are
millennial professionals attracted to the shopping and nightlife as
well as their ability to walk to work.
- ZIP code 33132 is expected to see households grow by 14.9
percent over the next five years. The forecast calls for more than
13,000 new housing starts and 44,000 new jobs created in 2016 in
Miami-Dade County. This is three
times the housing growth and 4.8 times the jobs anticipated on
average in the top 100 counties in the country,
respectively.
5. 89179 Las Vegas
Largest Neighborhoods:
Mountain's Edge
Las Vegas is the most populous
city in the state of Nevada and is
internationally known as a resort destination. Located roughly 14
miles from the Las Vegas strip,
the 89179 zip code primarily encompasses part of a planned
community known as Mountain's Edge. Since the development of
Mountain's Edge began in 2004, it has ranked among the top-selling
master planned communities in the U.S. due to its extensive outdoor
amenities such as its large scale community parks, trails and open
spaces. Two elementary schools – William V. Wright Elementary
School and Carolyn S. Reedom Elementary School – are located within
the community itself and in close proximity to ZIP code
89179.
- Households in ZIP code 89179 are expected to grow by 19.4
percent over the next five years. Clark
County is anticipated to see more than 14,000 new housing
starts and 23,000 new jobs created in 2016 which is 3.3 times
housing growth and 2.5 times the job growth anticipated on average
in the top 100 counties in the country,
respectively.
6. 98121 Seattle
Largest Neighborhood:
Belltown
The 98121 zip code is home to the largest proportion of
residents in downtown Seattle, as
well as the largest retail area. Ten percent of Seattle residents now live downtown,
representing a 12 percent growth in population since 2010. New
residential developments like the 707-unit Insignia Towers and the
area's wide variety of restaurants, bars, and cultural offerings,
have made Belltown a major draw in recent years. This is especially
true for employees of the area's major employers like Amazon,
Microsoft, and Starbucks, who are looking for close proximity to
work.
- ZIP code 98121 is expected to see households grow by 11.9
percent over the next five years. King
County is expected to see more than 13,000 new housing
starts and 21,000 new jobs formed in 2016; that's 3.1 times more
new homes and 2.3 times more jobs than the average of
the top 100 counties in the country, respectively.
7. 27571 Rolesville,
N.C.
Largest Neighborhoods: Villages of
Rolesville, Carlton Pointe, Cedar Lakes
Thirty minutes from Raleigh,
N.C., Rolesville is a
suburb situated along U.S. Highway 401 in northeastern Wake County and is only 30 minutes from
'Research Triangle Park,' the
largest research park in the country with more than 150 companies.
Rolesville is known for its strong
regional economy and prime positioning, with North Carolina State University, Duke University, and The University of North Carolina all less than an hour
away. The realtor.com® Boom Town list isn't the first
honor for Rolesville, which has
ranked as the Fastest Growing North American City (Forbes.com), Top
Housing Market for Investors (Forbes), and Top Public Schools in
the U.S. (Greatschools.org). People come here for the jobs, schools
and nice weather.
- Households in ZIP code 27571 are forecast to grow by 12.1
percent over the next five years. Wake
County is expected to see more than 10,000 new housing
starts and 12,000 new jobs in 2016, that's 2.4 times more new homes
and 1.3 times more jobs than the average of the top 100
counties in the country, respectively.
8. 11249 Brooklyn
Largest Neighborhood:
Williamsburg
ZIP code 11249 encompasses the Williamsburg neighborhood. Over
the past 15 years, the neighborhood has become known as a "hipster"
hotspot because of the many artists and creative-minded millennials
who have moved there. It is filled with restaurants, bars, art
galleries, shops and music venues. Housing developments are popping
up throughout this region, including several new residential
towers, including Rocket Factory Lofts, distributed throughout
Williamsburg.
- ZIP code 11249 is expected to see households grow by 9.2
percent over the next five years. Kings
County is expected to see more than 8,000 new housing starts
and 18,000 new jobs created in 2016; that's 1.9 times more new
homes and two times more jobs than the average of the
top 100 counties in the country, respectively.
9. 60603 Chicago
Largest Neighborhoods: The Loop,
downtown Chicago
Chicago is the economic heart
of the Midwest, and third most populous city in the U.S. Its
metropolitan area includes prominent businesses such as United
Airlines, Boeing, and Kraft, universities like Northwestern, the University
of Chicago, DePaul and
Loyola and cultural institutions such
as the Art Institute of Chicago.
The 60603 zip code extends from Lake
Michigan to South Wells Street and West Madison to the North and West Adams to the South and is in proximity to
businesses and public transportation. In addition to the West
Loop's thriving social scene of popular restaurants and bars,
Google, Uber and Twitter all have offices nearby.
- ZIP code 60603 is expected to see households grow by 18.9
percent over the next five years. More than 6,000 new housing
starts and over 38,000 more jobs are forecast for Cook County in 2016. This translates to 1.4
times more new homes and 4.2 times more jobs than the average
of the top 100 counties in the country, respectively.
10. 30363 Atlanta
Largest Neighborhood: Atlantic
Station
The Atlanta metropolitan area
is home to 5.5 million people and is the 10th-largest metropolitan
area in the nation. The 30363 zip code of Atlantic Station is
located on the site of the former Atlantic Steel Mill, now a
thriving urban community. The neighborhood's luxury condos, such as
The Atlantic, as well as its shopping, restaurants and
entertainment options, are attracting an influx of young
professionals to the neighborhood.
- ZIP code 30363 is expected to see households grow by 15.7
percent over the next five years. Fulton
County is projected to have more than 10,000 new housing
starts and 12,000 new jobs created in 2016; that's 2.3 times more
new homes and 1.4 times more jobs than the average of the
top 100 counties in the country, respectively.
Top 30 Boom
Towns
|
|
Ranking
|
ZIP code
|
Name
|
|
Ranking
|
ZIP code
|
Name
|
1.
|
85297
|
Gilbert,
AZ
|
|
16.
|
37122
|
Mount Juliet,
TN
|
2.
|
90012
|
Los Angeles,
CA
|
|
17.
|
96707
|
Kapolei,
HI
|
3.
|
75201
|
Dallas, TX
|
|
18.
|
29579
|
Myrtle Beach,
SC
|
4.
|
33132
|
Miami, FL
|
|
19.
|
20001
|
Washington,
DC
|
5.
|
89179
|
Las Vegas,
NV
|
|
20.
|
64106
|
Kansas City,
MO
|
6.
|
98121
|
Seattle,
WA
|
|
21.
|
20105
|
Aldie, VA
|
7.
|
27571
|
Rolesville,
NC
|
|
22.
|
68102
|
Omaha, NE
|
8.
|
11249
|
Brooklyn,
NY
|
|
23.
|
19123
|
Philadelphia,
PA
|
9.
|
60603
|
Chicago,
IL
|
|
24.
|
66227
|
Lenexa, KS
|
10.
|
30363
|
Atlanta,
GA
|
|
25.
|
83669
|
Star, ID
|
11.
|
43004
|
Blacklick,
OH
|
|
26.
|
50309
|
Des Moines,
IA
|
12.
|
80202
|
Denver, CO
|
|
27.
|
20871
|
Clarksburg,
MD
|
13.
|
84101
|
Salt Lake City,
UT
|
|
28.
|
46037
|
Fishers,
IN
|
14.
|
97209
|
Portland,
OR
|
|
29.
|
73179
|
Oklahoma City,
OK
|
15.
|
48165
|
New Hudson,
MI
|
|
30.
|
02111
|
Boston, MA
|
About Move, Inc. and realtor.com®
Move, Inc. operates the realtor.com® website and
mobile experiences, which provide buyers, sellers and renters of
homes with the information, tools and professional expertise they
need to discover and create their perfect home. News Corp [NASDAQ:
NWS, NWSA] [ASX: NWS, NWSLV] acquired Move in November 2014, and realtor.com®
quickly established itself as the fastest growing online real
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As the official website of the National Association of
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the nation's leading listing syndicator and centralized
intelligence platform for the real estate
industry; TigerLead®; Top Producer®
Systems; and FiveStreet℠ and Reesio as well as
many free services.
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of 1995. These statements are based on management's views and
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Media Contact:
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805.557.3151
Lexie.puckett@move.com
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SOURCE realtor.com