Want a quick way to build wealth? Buying in a hot housing market is one of the best ways to increase your investment fast. But there's a careful balance required to actually make money in a trendy city. You have to strike while the iron's hot, knowing that a big boom is probably on the way — but you can't wait until it's too hot because then the moment to make a significant profit is gone.
So, how do you know where to invest? Realtor.com has ranked the hottest housing markets according to price growth and demand. These markets are growing rapidly, but there's likely still room to get in before prices truly take off.
Start planning your strategy because these are the 11 trendiest hotting markets in the U.S. right now.
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Rockford, Illinois
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Median days on market: 43
Median listing price: $242,000
While Rockford has been hanging out in the top five hottest housing markets for the past seven months, this is its first time claiming the top spot. This Chicago suburb saw prices skyrocket 21.3% year-over-year, probably due to its popularity as a place where you can find affordability and access to big city amenities.
Known as the City of Gardens, it's a place where you'll find history, a vibrant downtown, and even a minor-league hockey team. As people look for budget-friendly alternatives to major metropolitan areas, Rockford is poised to continue its rise.
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Manchester-Nashua, New Hampshire
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Median days on market: 48
Median listing price: $557,000
For buyers looking for a primary residence investment, you can't beat house hunting in a place with no state sales tax or state income tax! This area is known as a financial hub in New England, and multiple Fortune 500 companies have presences here, meaning it's positioned to bring in more investment and buyers in the coming years.
There's also a great art scene and access to winter spots, so there's a draw for newcomers looking for a culturally rich or active way of life.
Hartford-West Hartford-East Hartford, Connecticut
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Median days on market: 49
Median listing price: $400,000
Looking to invest somewhere with historic architecture and old houses? Come to Hartford, where you can buy a home in one of the oldest cities in America that also happens to be one of the fastest growing. There's a vibrant business district that houses historic sites next to trendy restaurants, and residents love venturing out to state parks and mountains nearby.
There are both urban, walkable neighborhoods as well as bustling suburbs in the Hartford area so you can choose the way of life that appeals to you.
Lancaster, Pennsylvania
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Median days on market: 45
Median listing price: $415,000
Lancaster has long been known as home to a significant Amish population, and it also happens to be one of the most picturesque areas in Pennsylvania. There are beautiful rural areas, welcoming suburban areas, and a city that has everything from coffee shops to restaurants.
You can invest in the area that feels right to you, whether that's buying a historic home in the country or a unit right in town.
Reading, Pennsylvania
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Median days on market: 43
Median listing price: $330,000
Reading is an area rich in history, from the Reading Railroad to the Allegheny Aqueduct to the manufacturing that led to the city's rise in the 1800s. But today, it's seeing a resurgence, and newcomers are excited to move here thanks to its affordable cost of living.
You have a convenient location to the big city amenities and culture of Philadelphia, yet you get to enjoy a city where it's possible to buy a home for a more budget-friendly price.
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Worcester, Massachusetts
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Median days on market: 49
Median listing price: $500,000
The rolling hills of Worcester are becoming a popular place for home buyers to invest thanks to both its affordable pricing and desirable quality of life.
Just an hour and a half from Boston, this area is known for parks, colleges and universities, restaurants, entertainment venues, and music. It's a vibrant area with a buzzy downtown and quiet suburbs, as well as historic homes that are perfect for investors looking for a project.
Springfield, Massachusetts
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Median days on market: 51
Median listing price: $365,000
Find a place in the heart of it all in Springfield, which is 90 minutes from Boston, a half hour from Hartford, Connecticut, and a quick three hours over to New York City.
While you'll have proximity to all of these Northeast big cities and there are several large companies located in Springfield, you're also just a stone's throw to an outdoor paradise in the Pioneer Valley.
Providence, Rhode Island
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Median days on market: 49
Median listing price: $525,000
Providence is a quintessential New England city, with a walkable downtown, cultural diversity, and a fabulous food scene. Both Brown University and the Rhode Island School of Design are located here, which adds to the culture and brings in young people who decide to stay in the city. Looking for a spot with both urban amenities and charming beaches? Providence is your place.
Racine, Wisconsin
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Median days on market: 47
Median listing price: $334,000
The Great Lakes are a great place to invest in real estate, particularly as people realize they can find stunning beaches right in the Midwest. Racine is on Lake Michigan, and it's within quick driving distance to Chicago, Milwaukee, and Madison.
Here, you'll find the Racine Art Museum, stunning North Beach, as well as multiple entertainment venues for both theater and music.
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Oshkosh-Neenah, Wisconsin
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Median days on market: 51
Median listing price: $300,000
Want to live near the water? Buy in rapidly growing Oshkosh-Neenah, where you'll find Lake Winnebago, the Fox River, and Lake Butte de Morts, all within a short distance.
This affordable Midwestern city is also known for a busy annual event festival as well as cultural institutions like the Grand Opera House and the Paine Art Center and Garden.
Milwaukee-Waukesha-West Allis, Wisconsin
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Median days on market: 45
Median listing price: $357,000
Want a big city vibe with an affordable price tag? Milwaukee is rapidly experiencing a resurgence, and the downtown skyline is changing with every new day.
From nightlife to breweries to restaurants, music, and more, this is a popular region for buyers looking to get in early in a city that's seeing major development. Plus, there's impressive architecture for those eager to find their own piece of history.
Bottom line
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One of the advantages of buying into a trending housing market is the skyrocketing value that can happen if you buy at just the right time. This is a huge bonus when you either go to sell or undergo a large renovation where you need to tap into home equity. You'll find the significant increase in value gives you more buying power on the other end or more wiggle room in renovating your house exactly to your specifications.
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