West Michigan ZIP code is the country's 'hottest' housing market
The "hottest" housing ZIP codes in America are on the move from big cities like San Francisco and New York to quieter markets with a more suburban feel.
The 49505 ZIP code, which includes parts of Grand Rapids, Grand Rapids Township and Walker, ranks No. 1 in the 2019 “Hottest ZIP Codes” ranking by Realtor.com.
Mostly located just north of downtown Grand Rapids, 49505 runs along the Grand River and includes plenty of green space with the Kent Country Club and four large parks.
Homes in the 49505 ZIP code sell in 10 days on average, with a median listing price of $178,050, which is up 11.3% over last year, according to Realtor.com. Millennials make up the dominant buyer segment, accounting for 48% of new purchase mortgages. Millennials in the ZIP code make slightly less ($58,667) than the national median for millennials ($62,280).
10 “Hottest ZIP codes”
1. 49505 Grand Rapids
2. 68144 Omaha, Nebraska
3. 83704 Boise, Idaho
4. 66203 Shawnee, Kansas
5. 14609 Rochester, New York
6. 48154 Livonia
7. 02176 Melrose, Massachusetts
8. 76018 Arlington, Texas
9. 03045 Goffstown, New Hampshire
10. 80916 Colorado Springs, Colorado.
Factors driving “hotness” in this year’s ranking include a large number of high-earning millennials scooping up homes, relatively affordable home prices and strong local job markets, according to Realtor.com
Part of the appeal of the top 10 ZIP codes is their relatively affordable average home price of $272,000, which is below the national median of $316,000.