Upstate New York Hometown ‘Hottest Housing Market’ For 2024
Despite some very brutal winters and extreme cold, many people plan to move to one hometown in Upstate New York.
Zillow just released its 2024 hottest markets list and one location in New York State sits on top of the list.
"Housing markets are healthiest where affordable home prices and strong employment are giving young hopefuls a real shot at buying and starting to build equity," Zillow Economic Research Data Scientist Anushna Prakash stated. "I'm cautiously optimistic that the housing market will get back on stable footing in 2024 — we shouldn't see the massive price spikes of the early pandemic or fast-rising mortgage rates of recent years."
2024 Hottest Housing Markets In the United States
2024 Hottest Housing Markets In United States
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Buffalo, New York Named Hottest Housing Market In United States
Zillow named Buffalo, New York was named the hottest housing market in all of the United States for 2024.
"Buffalo, New York, will be the hottest major housing market this year, according to a new analysis by Zillow®. Affordability is the most powerful force driving real estate, bringing lower-cost markets in the Great Lakes, Midwest and South regions to the top of Zillow's 2024 rankings," Zillow states.
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The typical home in Buffalo is valued at $248,445. The typical mortgage payment is $1,792. A house is typically on the market in Buffalo for two weeks. The average rent in Buffalo is $1,257.
Last winter over 133 inches of snow fell across Buffalo, according to the National Weather Service.
Below is how Buffalo compares to the United States average:
United States:
- Typical Home Value: $347,415
- Mortgage Payment (5% Down): $2,514
- Typical Rent: $1,982
- Days on Market: 21
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Western New York native, New York Gov. Kathy Hochul was proud to share the news of her beloved Buffalo.
"Hottest housing market in the nation," Hochul tweeted. "Hottest team in the NFL. Let's go Buffalo!"
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