Michigan is home to this year’s hottest real estate ZIP code in US
Thanks to high-income millennial homebuyers looking for a little slice of suburbia, Realtor.com says that Kentwood’s ZIP code of 49508 is the hottest in the U.S. in 2018.
While a neighboring ZIP code made last year’s list, the 49508 portion of Kentwood jumped straight to the No. 1 spot with its debut on Realtor.com’s annual rankings. This ZIP code is the only Michigan representative on the list after 48154 and 49548 came in at No. 2 and No. 3, respectively, in 2017.
The website says that new additions such as Kentwood, Peabody, Massachusetts, Boise, Idaho and Rochester, New York were aided by millennials getting older and looking for “small, more suburban locales.”
Realtor.com says it analyzed 32,000 ZIP codes for its rankings, and compiled its list by looking at affordability, community employment, a combination of median age and income, and credit scores in the neighborhood.
As for Kentwood specifically, the real estate website says young families are flocking to this city and its area codes thanks to strong elementary schools with solid ratings.
“Located just 15 miles southeast of Grand Rapids and 30 miles from beautiful Lake Michigan, is the quiet suburban town of Kentwood,”Realtor.com says.
“The area is known for its tree lined streets, close knit community, affordable homes, and quick commute to Grand Rapids, where Spectrum Health, Meijer, and Mercy General Health Partners are the major employers.”
Realtor said that views for the 49508 ZIP code are up 4 percent in the past year, which means homes in the area are receiving four times more views than the rest of the country.
This aided homes in the 49508 ZIP code in selling 52 days faster than the rest of the U.S. with a median listing price of $193,168 which is up 9.5 percent from last year’s figures. Also helping this ZIP boom is the fact that homes here are 33 percent lower than the rest of Kent County.
“When it comes to choosing a home of their own, millenials are looking for opportunity and they’re finding it in affordable suburbs,” Danielle Hale, Realtor’s chief economist, said in a news release accompanying the rankings.
“These hot housing markets are attracting the attention of hard-working, high-earning 25-to-34-year-olds who are drawn by their relative affordability, strong local economies, and outdoor and cultural amenities.”
See below for the full rankings:
- 49508 — Kentwood
- 80922 — Colorado Springs
- 76148 — Watauga, Texas
- 94546 — Castro Valley, California
- 01960 — Peabody, Massachusetts
- 83704 — Boise, Idaho
- 43085 — Worthington, Ohio
- 66210 — Overland Park, Kansas
- 14624 — Rochester, New York
- 07043 — Upper Montclair, New Jersey
For Realtor.com’s full Top 50 Hottest ZIP codes rankings, click here.Michigan was also represented at No. 12 in Ferndale.