Danielle Hale Chief Economist | realtors.com
America's top housing market has been identified as Canton, Ohio, where the typical home is listed for $163,000 less than the national median price. The city ranked first in the latest Wall Street Journal/Realtor.com Housing Market Ranking, which focuses on metros offering a lower cost of living near economic hubs.
Canton has secured the top position twice consecutively due to its strong local economy, reasonable cost of living, amenities, and reduced risk of climate-related disasters. Known as the birthplace of the NFL and home to the Pro Football Hall of Fame, Canton also holds historical significance as the hometown of former President William McKinley. President Donald Trump recently highlighted McKinley's legacy by renaming Alaska’s Denali mountain back to Mount McKinley.
In December, Canton's median home list price was $239,900 compared to the U.S. median of $402,502. Due to affordability and demand, homes in Canton sold quickly last month with listings averaging 43 days on the market versus a national median of 70 days.
Canton benefits from a lower risk of climate-related hazards with only 2.7% of properties at severe or extreme risk over the next 30 years. The top 20 markets averaged just 5.1% at risk from such incidents.
The Wall Street Journal/Realtor.com Housing Market Ranking evaluates real estate demand among other factors across 200 metro areas. In this ranking cycle, Midwest and Northeast regions dominated with every top-20 market located there. Following Canton were Rockford (IL), Toledo (OH), Manchester (NH), and Akron (OH). Ohio featured prominently with five metros in the top 20.
Akron recorded the lowest home prices among these markets with a December median list price of $209,950. Only four out of twenty markets exceeded the U.S. median listing price in December.
“Buyer demand has held up considerably well in areas that offer considerable bang for your buck,” said Realtor.com senior economic research analyst Hannah Jones.
Trenton (NJ) made significant progress by climbing 16 spots to No. 12 in this quarter's rankings—the largest gain among all markets—demonstrating commuter town appeal being just miles away from Philadelphia and New York City.
Realtor.com data indicates that Trenton attracts substantial interest from both within its metro area and neighboring cities like New York City and Philadelphia due to potential savings on property costs compared to those urban centers.
“The outsized share of views from New York City is both due to the metro’s size and perhaps to relative savings that a New York City-to-Trenton area move would yield,” noted Jones.
Trenton's median list price was $422,000 in December—more than $300K less than NYC but about $60K above Philadelphia's metro median—with prices increasing by 11% year-over-year amid strong demand yet limited active listings causing homes there spending fewer days on market than nationally observed averages at around fifty-two days last month.
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