The U.S. housing market continues to show resilience in 2024, with certain regions standing out for their rapid growth and investment potential. Below, we’ve highlighted 21 regions where real estate is booming, backed by current data and trends.
1. Austin, TX
Austin remains a hotspot for tech companies, attracting young professionals and fueling housing demand. Despite a slight drop in median home prices by 6.2% year-over-year, the city remains attractive due to its tech-driven job market and strong rental yields.
2. Raleigh, NC
Raleigh benefits from its position within the Research Triangle, boasting a strong job market in tech and education. Home prices have seen modest growth, with the region remaining competitive due to affordable housing compared to national averages.
3. Nashville, TN
Nashville continues to thrive with its robust entertainment and tech industries. Home prices have risen by 65.6% since pre-pandemic times, reflecting the city’s growing appeal.
4. Phoenix, AZ
Phoenix’s housing market remains strong, with increased inventory and high demand driven by population growth. Despite a rise in price reductions, the market’s long-term potential remains solid.
5. Salt Lake City, UT
Salt Lake City continues to benefit from its status as a burgeoning tech hub. The region has seen home prices climb steadily, with a 25% increase in the last five years, making it attractive for long-term investment.
6. Tampa, FL
Tampa is experiencing significant price appreciation, with a 66.1% increase in price per square foot since 2019. The region’s mix of no state income tax and favorable weather keeps it in high demand.
7. Las Vegas, NV
Las Vegas’ real estate market is rebounding, with home prices increasing by around 4% year-over-year. Strong tourism and entertainment sectors continue to drive demand for both residential and rental properties.
8. Charlotte, NC
Charlotte has seen price per square foot increase by 56.9% since 2019. The city’s appeal lies in its growing financial sector and lower cost of living compared to nearby metros.
9. San Antonio, TX
San Antonio’s housing market has grown 204% since 1998, driven by a growing population and large employers like USAA. The region offers affordable housing options and consistent appreciation rates.
10. Minneapolis, MN
Minneapolis’ stable job market and quality of life continue to sustain its real estate market, with home prices seeing gradual increases in line with national trends.
11. Columbus, OH
Columbus has seen an 11.1% increase in home prices since 2019, reflecting the city’s growing appeal due to its tech sector and strong educational institutions.
12. Kansas City, MO
Kansas City’s central location and growing cultural scene have bolstered its real estate market, with home prices rising steadily in recent years.
13. Indianapolis, IN
Indianapolis offers affordability and strong job growth in sectors like manufacturing and pharmaceuticals, driving steady increases in home values.
14. Richmond, VA
Richmond’s historical charm and growing financial sector have helped push home prices up, with the median price increasing by 44% since 2019.
15. Jacksonville, FL
Jacksonville benefits from its large geographical area and extensive waterfront, leading to consistent demand and growth in home prices.
16. Greensboro, NC
Greensboro’s real estate market has seen steady growth, with home prices climbing due to increased demand from those seeking affordable housing in North Carolina’s Triad region.
17. Denver, CO
Denver continues to be a sought-after location, with home prices seeing a 25.5% increase since 2019. The region’s appeal lies in its strong outdoor lifestyle and growing job market.
18. Atlanta, GA
Atlanta remains a key real estate market, despite a 2.4% dip in median listing prices. The city’s strong job market and affordable living continue to attract buyers.
19. Grand Rapids, MI
Grand Rapids offers a low-cost housing market with a strong job market in manufacturing, healthcare, and technology, making it one of the Midwest’s best-kept secrets.
20. Riverside, CA
Riverside has seen a 13.8% increase in home sales in 2024, driven by affordability compared to nearby Los Angeles. It remains an attractive option for those priced out of more expensive Southern California markets.
21. Knoxville, TN
Knoxville is projected to see up to a 9.5% increase in home prices in certain neighborhoods, thanks to its affordable living and growing appeal to both young families and retirees.
Thriving
These regions are thriving thanks to diverse economies, job growth, and favorable living conditions. Whether you’re looking to buy, invest, or relocate, these booming real estate markets offer plenty of opportunities in 2024.
Featured Image Credit: Shutterstock / goodluz.
The content of this article is for informational purposes only and does not constitute or replace professional financial advice.
The images used are for illustrative purposes only and may not represent the actual people or places mentioned in the article.
For transparency, this content was partly developed with AI assistance and carefully curated by an experienced editor to be informative and ensure accuracy.
