Move Over Florida, The Hottest Housing Market In 2024 Will Be – In New York
Much has been said about the relocation of people from states like California and New York to the southern states of Texas and Florida. But as affordability declines, needs change. And with interest rates much higher than they were a couple of years ago, that situation is compounded. “Housing markets are healthiest where affordable home prices and strong employment are giving young hopefuls a real shot at buying and starting to build equity,” said Anushna Prakash, data scientist for Zillow Economic Research. The housing market in Florida, with escalating rents and home prices, have caused many to begin looking elsewhere.
The Housing market in 2023.
United Van Lines supplied data from last year from the 50 largest metro areas. The top 5 places people using their service moved to were Charlotte, Providence, Indianapolis, Orlando and Raleigh. The data showed that overall, people tended to move to an area with more affordable housing than where they were coming from. I can relate. If I could work a job fully remote, moving from Florida to North Carolina would be on the table.
2024 Predictions.
According to Zillow, affordability will be the main driving factor in housing markets in 2024. That’s definitely a hinderance to those relocating to Florida. We have beaches, sunshine, and an amazing lifestyle. At a cost. So, to find the hottest housing market this year, they analyzed the 50 largest U.S. metro areas. Zillow took into account expected home value appreciation, new jobs per new housing unit permitted, an estimate of the net new number of home owning households, and other factors. With all this in mind, they chose Buffalo. Yes, Buffalo, New York, as the hottest housing market of 2024.
If you can look past all the snow, and the football fans jumping on tables and setting themselves on fire, I think Buffalo is a solid place to be. And very affordable based on stats from Zillow. Personally, I’d much prefer Cincinnati or Indianapolis if you’re going that route. Here’s the numbers.
Latest stats for Zillow’s hottest markets in 2024
| Market | Typical Home Value | Mortgage Payment (5% Down) | Typical Rent | Days on Market |
| Buffalo, NY | $248,445 | $1,792 | $1,257 | 14 |
| Cincinnati, OH | $270,826 | $1,959 | $1,527 | 11 |
| Columbus, OH | $301,138 | $2,177 | $1,431 | 11 |
| Indianapolis, IN | $268,125 | $1,944 | $1,468 | 19 |
| Providence, RI | $455,609 | $3,288 | $2,039 | 14 |
| Atlanta, GA | $373,212 | $2,701 | $1,903 | 26 |
| Charlotte, NC | $371,844 | $2,688 | $1,791 | 16 |
| Cleveland, OH | $215,597 | $1,556 | $1,330 | 12 |
| Orlando, FL | $388,048 | $2,806 | $2,013 | 23 |
| Tampa, FL | $375,338 | $2,717 | $2,091 | 24 |
| United States | $347,415 | $2,514 | $1,982 | 21 |
| (Average) |
Buffalo is certainly more affordable than most parts of Florida. But do keep in mind – these will be your neighbors.
WTF…. #Bills fans jump ONTO A TABLE THAT IS ON FIRE AND START TO BURN, they pick the table up and TWO MORE MAFIA MEMBERS JUMP BACK ON IT
— MLFootball (@_MLFootball) December 31, 2023
😳😳😳
pic.twitter.com/eRBbHR2YoW
Related Gallery: The Photos Are Starting To Come In, Buffalo Is Getting CRUSHED With Snow
Florida still makes the list, albeit a little further down. Orlando and Tampa come in at 9 and 10 respectively. Zillow only measured the top 50 markets, so Southwest Florida was not included. Data from Redfin shows the median home price for Fort Myers/Cape Coral to be $385,000, and with the issues we have with high rent, it’s unlikely we would have been in their top 10.
3 Florida Cities Land On List Of Best Places To Live In America
9. Tampa
Money said Tampa is “a rare combination of action-packed and affordable”. Home sales average just over $380,000. The publication said the downsides of the city include traffic and climate. (If you don’t like the heat- stay out of the kitchen!)
(Photo by Julio Aguilar/Getty Images)
33. Altamonte Springs
Altamonte Springs isn’t a city I’ve visited, though it’s only about 30 mins from Disney and about an hour to the beach, so it’s close to a lot of fun. Definitely worth bragging about, if getting a good education is important, the area has a 93% graduation rate.
(Photo by Isaiah Vazquez/Getty Images)
43. Sarasota
Sarasota was the city I first landed in upon moving to Florida, and I absolutely love it. Money says Sarasota is a “paradise for beach, culture and wildlife lovers”. But be ready to pay. The average home price last year was over $565,000.
