Blog Introduction: Are you looking for a new home, but not sure where to start? You may want to consider these five cities that are forecast to have the highest increase in home prices. Scranton, Pennsylvania; Kansas City, Missouri; Hartford, Connecticut; Harrisburg, Pennsylvania; and Omaha, Nebraska are all expected to experience an uptick in home prices over the next year. Let’s take a closer look at why these areas may be particularly attractive for prospective homebuyers.
5 cities where home prices are likely to rise most
Here are the five cities where home prices are forecast to increase by the most:
- Scranton, Pennsylvania – up 2%
- Kansas City, Missouri – up 2%
- Hartford, Connecticut – up 2%
- Hartford, Connecticut – up 1.5%
- Omaha, Nebraska – up 1%
Scranton, Pennsylvania is projected to have the highest increase in home prices among the five cities mentioned above. This is due in large part to its strong economy and job market. The city’s unemployment rate is currently lower than the national average and it has seen steady job growth since 2010. Furthermore, many people are attracted to Scranton because of its affordable cost of living and proximity to larger cities like Philadelphia and New York City.
Kansas City, Missouri –
Kansas City, Missouri is also expected to see a notable increase in home prices over the next year. This is largely due to its thriving economy and low cost of living compared with other cities on this list. Additionally, Kansas City has seen a surge of young professionals moving into its downtown area as well as some of its surrounding neighborhoods. This influx of people has led to an increased demand for housing which has pushed up home prices.
Hartford, Connecticut –
Hartford, Connecticut rounds out our list with an expected increase in home prices by 2 percent over the next year. Hartford has seen strong job growth recently and there is currently a high demand for housing from both first-time buyers as well as those looking for second homes or vacation properties near the beach or mountains. Additionally, Hartford’s relatively low cost of living compared with other major cities makes it an attractive option for those on a tight budget.
Hartford, Connecticut –
Hartford, Connecticut is likely to experience a 1.5 percent increase in home prices over the coming year. Hartford is known for its low cost of living and excellent public transportation, which makes it an attractive option for those on a budget who are looking to be close to major cities like New York and Boston. Additionally, Hartford has seen significant job growth recently as many businesses have moved into the area.
Omaha, Nebraska –
Omaha, Nebraska rounds out our list with an anticipated 1 percent increase in home prices over the next year. Omaha has become increasingly popular among young professionals who are seeking affordability and access to outdoor activities like biking and running trails along the Missouri River. The city also boasts numerous educational opportunities and cultural amenities, making it an attractive option for those looking to settle down.
What it means for you
Potential buyers have been hamstrung by the high cost of housing in many cities across the country, but these five locations could offer some relief. If you’re looking for a new home and want to get ahead of the market, these five cities should be at the top of your list. With projected increases in home prices over the next year, now is an ideal time to invest in one of these areas. Be sure to do your research and consult with a real estate professional before making any decisions so that you can make an informed choice about where to live.
If you’re looking for somewhere new to call home this year then these five cities should definitely be on your list! Each city offers something unique that sets it apart from other places while still providing an excellent quality of life and good value for money when it comes to housing costs. Whether you’re seeking out a bustling metropolis or a small town atmosphere there is sure to be something here that will fit your needs perfectly!