3 Ohio Cities Top Zillow's List of Hottest Housing Markets of 2024 - Here's Why

The housing market has had quite a ride over the past two years, and new winners are emerging in 2024. This is something you want to pay attention to if you're looking for ways to build wealth through real estate.

Whether you're contemplating the purchase of your dream home, planning to dive into real estate investments, or simply curious about the market's trajectory, you'll want to know where the hottest real estate markets are for the new year.

Zillow's analysis considered factors such as local home value growth, how fast (or slow) houses are snatched up, job growth per new home permitted, and growth in owner-occupied households.

This data-driven approach provides a transparent view of the factors influencing the real estate landscape, offering a foundation for the selections made.

• Typical Home Value: $248,445
• Mortgage Payment (5% Down): $1,792
• Typical Rent: $1,257
• Days on Market: 14

Buffalo, New York, takes the lead in the 2024 housing market, leaving many intrigued. The city boasts not only affordability but also significant job growth, making it an attractive destination for those seeking a financial balance.

Buffalo might be a bit off the beaten path but offers potential homebuyers opportunities for both stable employment and homeownership.

• Typical Home Value: $270,826
• Mortgage Payment (5% Down): $1,959
• Typical Rent: $1,527
• Days on Market: 11

Cincinnati is the first Ohio city on the list, but it shows why the state is a potentially good investment. It might not have the most affordable homes, but they are high on the list and they don't stay on the market long.

Typical Home Value: $301,138

Mortgage Payment (5% Down): $2,177

Typical Rent: $1,431

Days on Market: 11

Columbus is the second Ohio city on the list. As a hub for The Ohio State University, it continues to be a strong potential place to invest in real estate. 

• Typical Home Value: $268,125
• Mortgage Payment (5% Down): $1,944
• Typical Rent: $1,468
• Days on Market: 19

Indianapolis continues to be a strong city economically, with many large employers and a high quality of life. 

• Typical Home Value: $455,609
• Mortgage Payment (5% Down): $3,288
• Typical Rent: $2,039
• Days on Market: 14

Providence remains the hub of the state of Rhode Island for many business activities, and the homes can be much more affordable than other cities in the region. 

• Typical Home Value: $373,212
• Mortgage Payment (5% Down): $2,701
• Typical Rent: $1,903
• Days on Market: 26

Atlanta has been one of the fastest growing large cities for years, and it continues to be a popular destination of the south. 

• Typical Home Value: $371,844
• Mortgage Payment (5% Down): $2,688
• Typical Rent: $1,791
• Days on Market: 16

Charlotte is home to businesses such as Truist and Honeywell. It's also a nice airline hub and offers a lot of strong employment options. As a result, many people in the region continue to move nearby. 

• Typical Home Value: $215,597
• Mortgage Payment (5% Down): $1,556
• Typical Rent: $1,330
• Days on Market: 12

Cleveland is the next Ohio city on the list, showing that the state is a strong potential investment regardless of the size of the city. 

• Typical Home Value: $388,048
• Mortgage Payment (5% Down): $2,806
• Typical Rent: $2,013
• Days on Market: 23

Orlando is known as the home to Mickey Mouse and industry conferences, but it can also be a strong housing market. The home value is still low for a Florida city. Miami, for example, boasts a median home value that this nearly $200k more. 

• Typical Home Value: $375,338
• Mortgage Payment (5% Down): $2,717
• Typical Rent: $2,091
• Days on Market: 24

Tampa showcases diverse opportunities for both homebuyers and investors. It's right down the highway from Orlando but favors the gulf coast. Depending on where you want to live, it could be a great option for the beach lover in you. 

Ohio emerges as a powerhouse in the hottest housing markets list for 2024, boasting cities like Cincinnati and Columbus. What sets Ohio apart, and why does it consistently claim multiple spots on the list? Economic dynamics, job growth, and unique features make Ohio a notable contender.

Zillow says inventory is moving extremely quickly in Cincinnati and that Columbus is home to the fastest expected rise in owner-occupied households. Both figures are an indication of families moving in and overall population growth. 

The state's real estate potential goes beyond individual cities, reflecting a broader regional strength that draws attention from both homebuyers and investors.

The East Coast is very well represented in the 2024 housing market rankings, with cities like Providence and Charlotte making a significant impact. The East Coast's allure extends beyond individual cities, reflecting a collective strength that positions this region as a focal point for real estate activity.

The East Coast dominates in all major real estate categories with sustainable and dynamic job demand and coastal living. In fact, every city on this list is in the Eastern time zone. 

Providence and Charlotte are less susceptible to economic headwinds than New York or Boston (which suffered large numbers of migration during the pandemic) but still boast strong local economies that sustain real estate demand.

In this dynamic housing market, it's essential to distill the key takeaways. Finding the right city to buy a home can help you avoid living paycheck to paycheck by finding an affordable rent payment. 

Whether you're a homeowner seeking a strategic move or an investor scouting for promising opportunities, Zillow’s list for 2024 comes out with some surprising winners.

Buffalo, Cincinnati, and Columbus are important cities for any investor or potential homebuyer to consider moving into this year, as their regional economies provide high job demand and the right environment for families to flourish.