Topeka Tops Ranking of Emerging Housing Markets This Fall as Buyers Seek Affordability
-
Topeka, Kansas tops the list as the #1 emerging housing market this fall, with a median home list price of just $250,000.
-
Buyers are seeking out more affordable areas as home prices and mortgage rates continue to rise nationally. Many top emerging markets are in the Midwest.
-
Prices are rising quickly in these markets too - up 19% year-over-year in September. But they remain relatively affordable compared to national prices.
-
Some higher priced markets made the top 20 list, but offer deals compared to nearby larger cities. Manchester & Concord, NH are cheaper than Boston.
-
Only Santa Maria, CA was an outlier - the wealthy area attracts international buyers less concerned about affordability constraints.