America's hottest zip codes: Top markets for homebuyers revealed

There are 41,618 unique ZIP codes in the United States. With that many options, how can buyers search for a dream home that’s not out of their budget?

Enter the Realtor.com® annual Hottest ZIP Codes of 2024, which highlights the markets where homebuyers are shopping like crazy and making offers at record speed due to the areas’ affordability, excellent amenities, and other desirable attributes. So which ZIP code claimed the top spot as the most coveted of all?

“Located in the ever-popular Columbus metro area, ZIP 43230 in Gahanna, OH, is this year’s hottest, taking the crown for the second year in a row,” says Realtor.com senior economic analyst Hannah Jones.

The quaint suburb is near a hub of billion-dollar industries—Intel and Google are expanding there. The area also offers big-city amenities at a small-town price, plus a good school system, a busy downtown, and a friendly community.

“Gahanna is so appealing because of its strong home values,” says real estate agent Lory Kim with Re/Max Connection, who grew up in Gahanna and still lives there. “The market here has remained robust over the years, which is a testament to the area’s enduring appeal. And compared to some other nearby areas, Gahanna is still quite affordable, making it a smart choice for families and anyone looking to invest in a community with so much to offer.”

“Every ZIP code in our top 10 offers some element of value for potential buyers,” adds Jones. “All of the top 10 ZIP codes offer affordability in the form of a lower median list price or median listing price per square foot compared to the U.S. housing market relative to their surrounding metropolitan area or both in June. Though buyers have more options across the country, this year’s Hottest ZIP Codes show that demand remains concentrated in markets that offer more bang for your buck.”

“This year’s 10 Hottest ZIP Codes emphasize the trends we have seen through the last year in the housing market,” says Jones. “Buyers have homed in on affordable Midwest and well-located Northeast metros that offer some combination of value and desirability.”

This year’s hottest ZIP codes boast three standout Midwest metros, and the Northeast leads with seven—including higher-end areas.

Massachusetts has three of these hottest ZIP codes. New Jersey claimed two ZIP codes while New York and Pennsylvania each have one.

The Midwest’s three ZIP codes make a repeat appearance from last year.

Remarkably, this marks only the second time in history that just two regions represent all top 10 spots.

“The Southern and Western regions are not represented in this year’s 10 hottest ZIPs as buyer interest has shifted away from areas generally unaffordable or less affordable due to significant price growth during COVID-19,” adds Jones. “The South has seen an increase in for-sale inventory thinning out buyer demand on a per-property basis cooling off and slowing down its market.”

More than half of this year’s 10 hottest ZIP codes boast median list prices below July's national median of $439,950. Four markets were priced higher—with Basking Ridge NJ nearly twice as high at $967000.

But home prices are rising quickly across all these hot markets.

“Relatively high demand pushed home prices on average 7.4% higher in these hottest ZIPs during first half-year compared to just 0.4% national growth,” says Jones.

This means home prices rose an astounding 18.5 times faster than national median list price growth.

“Roughly half were priced higher than their surrounding metro while others were lower hinting differing buyer motivations today," says Jones." Some seek deals others care less about keeping low prices whether moving from pricier areas or cashing existing equity upgrading."

Listings garnered about 3.7 times more views than average flying off market month faster typical US homes first-half-year

“Home shoppers large metros contribute significantly viewership” says Jones.” Buyers tend earn more higher credit scores attracting older equipped face competitive housing"

Homes spent between eight eighteen days on market meanwhile typical nationwide fifty days July

Though overall stock below pre-COVID levels national supply grew by24 .7% first-half-year

High-demand homes sale grew only5 .7%

Hottest list compiled analyzing supply demand using Realtor.com data January-June2023 assessing views speed sold limited one per metro area

These ten hottest:

1)43230-Gahanna OH-Columbus OH-Median$345000

2)63021-Ballwin MO-St Louis MO-Median$409000

3)01970-Salem MA-Boston MA-Median$596000

4)07920-Basking Ridge NJ-New York NY-Median$967000

5)14609-Rochester NY-Rochester NY-Median$151000

6)08054-Mount Laurel NJ-Philadelphia PA-Median$385000

7)01453-Leominster MA-Leominster MA-Median$462000

8)01085-Westfield MA-Springfield MA-Median$347000

9)46322-Highland IN-Chicago IL-Median$250000

10)18062-Macungie PA-Allentown NJ-Median$462000