Gahanna, Ohio, claimed the No. 1 spot for a second year in a row for Realtor.com’s Hottest ZIP Codes Report. This year’s list of the hottest ZIPs are once again located exclusively in the Midwest and the Northeast.
The Columbus area ZIP offers buyers the amenities and quality-of-life advantages of a larger town at a lower price point. According to Realtor.com, homes in this ZIP code were priced 11% below the metro's average, and 19.4% below the national median in the first half of 2024. Although almost half of the listing viewership came from within the metro, the lifestyle and affordability available in ZIP 43230 (Gahanna, Ohio) pulled the attention of shoppers in the New York City metro.
"While we've seen big changes in the housing market, such as a growing number of homes for sale, this year's hottest ZIP codes in America show common factors are driving interest in these highly competitive areas," says Realtor.com chief economist Danielle Hale. "Although mortgage rate relief is starting to materialize, this year's hottest ZIPs reflect the focus on affordability that home shoppers have had over the last few years in the face of high housing costs. Concentrated in larger metros across the Northeast and Midwest, these top 10 ZIPs attracted highly qualified home buyers seeking more space without relinquishing proximity to urban amenities."
Seven of the 10 hottest ZIP codes on the list are in the Northeast, with three Massachusetts ZIP codes, two New Jersey ZIP codes, and one ZIP code each in New York and Pennsylvania. Philadelphia and Springfield, Massachusetts, metros are represented by a ZIP code on the Hottest ZIPs list for the first time in the data's history.
This year, the Midwest holds three spots on the list with ZIPs that were also on last year's list. Columbus, Ohio, has had a presence on the Hottest ZIPs list each year dating back to 2017, Realtor.com points out. This is the second year in a row, and only the second time in the list's history, that only two regions are represented on the top 10 list.
The Southern and Western regions are not represented in this year's list as buyer interest has moved away from areas that are generally unaffordable, or have become less affordable due to significant price growth during the pandemic. The South has seen a significant pick up in for-sale inventory, which has thinned out buyer demand on a per-property basis, Realtor.com reports.
The 2024 hottest ZIP codes in America are:
- 43230 Gahanna, Ohio
- 63021 Ballwin, Missouri
- 01970 Salem, Massachusetts
- 07920 Basking Ridge, New Jersey
- 14609 Rochester, New York
- 08054 Mount Laurel, New Jersey
- 01453 Leominster, Massachusetts
- 01085 Westfield, Massachusetts
- 46322 Highland, Indiana
- 18062 Macungie, Pennsylvania
Compared to the greater U.S. housing market, and even the surrounding areas in which they are located, each of the top 10 have a lower median list price and/or median listing price per square foot. The Midwest ZIPs on this year's list were priced an average 24.6% lower than the national median in June. Three Northeast ZIPs on this years' list were priced an average 28.8% below the U.S. median in June.
According to Realtor.com, competition for homes in this year's hottest ZIPs has accelerated the market pace. Homes spent an average of 13 days on the market in June, more than a month (-32 days) less than the national median. In the first four months of the year, homes in these areas sold for an average 3.3% over asking price, while nationally homes sold for an average 2.3% under asking price in the same period.
