BTN News: In 2024, the U.S. housing market tells a new story—one of affordability, urban proximity, and shifting buyer demand. Realtor.com has released its annual list of the hottest ZIP codes in America, and this year, the Midwest and Northeast dominate. Gahanna, Ohio (ZIP Code 43230), once again clinches the top spot, maintaining its allure for a second consecutive year. Ballwin, Missouri (63021) and Salem, Massachusetts (01970) follow closely behind, capturing the attention of savvy homebuyers. Amid fluctuating mortgage rates and growing inventories in traditionally expensive markets, these top real estate markets in the U.S. represent a search for value and space without losing connection to urban amenities.
What Makes These ZIP Codes the Hottest in 2024?
Gahanna, Ohio, has emerged as the number one hottest ZIP code in the U.S. for 2024, holding this title for the second year in a row. Nestled in the suburbs of Columbus, Gahanna appeals to homebuyers seeking a balance between affordability and access to urban amenities. It’s no surprise that this ZIP code has continued to draw interest from those looking to make smart real estate investments. Columbus, Ohio, remains a constant presence on this list since 2017, showing that its draw is no passing trend.
Ballwin, Missouri (63021), ranks second on this year’s list, offering a similar mix of value, space, and proximity to the urban core of St. Louis. Close behind is Salem, Massachusetts (01970), known for its historic charm and cultural significance. This New England town has transformed itself into a competitive market, balancing affordability with unique character.
Rising Demand for Affordability and Space
Why are these particular ZIP codes so appealing in 2024? According to Danielle Hale, Chief Economist at Realtor.com, the answer lies in the affordability factor: “Even as mortgage rates begin to ease, the hottest ZIP codes this year reflect a continued focus on affordability. Buyers are looking for more space without sacrificing proximity to urban conveniences.”
The list underscores a notable trend: Buyers are turning away from traditionally expensive markets, particularly in the South and West, which have seen rapid price increases since the pandemic. Instead, the Midwest and Northeast are capturing buyer interest, driven by a need for both affordability and lifestyle appeal. Seven of the top ten ZIP codes are located in the Northeast, including three in Massachusetts (01970, 01453, 01085), two in New Jersey (07920, 08054), and one each in New York (14609) and Pennsylvania (18062).
The Midwest Makes a Strong Showing
Three ZIP codes from the Midwest also make the list, reflecting the region’s growing appeal. In addition to Gahanna, Ohio, Highland, Indiana (46322) has captured buyers’ attention with its suburban feel and competitive prices. Meanwhile, Ballwin, Missouri, continues to shine as a desirable community for those looking to balance space, price, and proximity to a larger city.
Notably, this is the second consecutive year—and only the second time in the list’s history—that only two regions, the Midwest and Northeast, dominate the top ten. This speaks to a larger shift in the housing market, one where affordability and the quality of life play central roles.
No Representation from the South or West
Interestingly, the top 10 list of the hottest ZIP codes in 2024 includes no regions from the South or West. Historically, these regions have seen high demand, but a substantial rise in inventory levels and increasing prices have dampened buyer enthusiasm. The South, in particular, has cooled due to these changes, with a significant number of properties remaining unsold, thereby slowing down the market.
The Top 10 Hottest ZIP Codes in the U.S. for 2024
Here are the most sought-after ZIP codes in the U.S. housing market for 2024:
- Gahanna, Ohio (43230)
- Ballwin, Missouri (63021)
- Salem, Massachusetts (01970)
- Basking Ridge, New Jersey (07920)
- Rochester, New York (14609)
- Mount Laurel, New Jersey (08054)
- Leominster, Massachusetts (01453)
- Westfield, Massachusetts (01085)
- Highland, Indiana (46322)
- Macungie, Pennsylvania (18062)
Each of these areas shares common attributes—access to urban conveniences, more space, and, most importantly, affordability—key drivers in a market where economic pressures still weigh heavily on buyers’ decisions.
A Market Defined by Changing Preferences
In 2024, the demand for real estate is not just about location but also about finding the right balance between cost, space, and lifestyle. The dominance of the Northeast and Midwest in this year’s list underscores a broader trend toward prioritizing affordability and quality of life. As mortgage rates begin to stabilize, these ZIP codes may continue to attract homebuyers looking for the perfect blend of price, convenience, and character.
Conclusion: What to Expect in the Coming Years?
As we move into the next year, it will be interesting to see if the trend of shifting interest from traditionally expensive markets to more affordable ones in the Midwest and Northeast continues. For now, Gahanna, Ohio, and its counterparts have proven that real estate demand is as much about strategic choice and smart investment as it is about the timeless adage: location, location, location.
This year’s list of the hottest ZIP codes is a testament to changing buyer preferences and a search for value in an ever-evolving market. Buyers are clearly on the lookout for that sweet spot where affordability, space, and convenience converge.