At the start of the year, Zillow released its 2024 hottest market list, highlighting ten cities expected to have exceptionally robust real estate markets this year. Among these, nearly half are Ohio and Indiana cities. Let’s delve into the details of the four cities in these states that made Zillow’s hottest market list and explore what makes them so appealing.
Cincinnati, OH
Nestled among rivers and hilly terrain, Cincinnati stands out as a picturesque city known for its vibrant cultural scene. The lively city offers delicious restaurants, breweries, museums, gardens, and zoos. Also, Cincinnati is home to multiple professional sports franchises and several esteemed higher education institutions.
This year, Cincinnati was second on Zillow’s list. Despite a gradual rise in home prices over the past several years, the cost of living in Cincinnati remains well below the national average. Zillow projects prices to be quite steady throughout 2024, with homes expected to sell quickly.
Columbus, OH
Ohio’s capital, Columbus, is a diverse metropolis along the Scioto River. Serving as a haven for art and culture enthusiasts, it boasts excellent dining options, top-notch museums, and an extensive range of shops. As Ohio’s largest city, Columbus has a thriving economy, and it is home to Ohio State University, one of the nation’s largest universities.
Securing the third position on Zillow’s list, Columbus stands out due to a surge in owner-occupied homes, the largest surge in the nation by percentage, signaling significant population growth. Zillow notes that despite this growth, home prices are expected to remain steady.
Indianapolis, IN
Indiana’s capital and largest city is along the White River. Indianapolis is renowned as a major sports town and is the host city of the annual Indianapolis 500. The city thrives economically with signficant insurance, pharmaceutical, and financial services industries. It is also a hub for foodies.
Claiming the fourth spot on Zillow’s rankings, Indianapolis distinguishes itself with remarkably affordable homes, contributing to its high ranking. Home prices have remained steady, well below the national average, with only marginal increases since the pandemic.
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Cleveland, OH
Situated on the shores of Lake Erie, Cleveland is a significant urban center with a rich history, a bustling economy, and plenty for residents to enjoy. Cleveland houses world-class museums, including the Cleveland Museum of Art and the Rock & Roll Hall of Fame, as well as a renowned theater district. Also, the city is the proud home of the Cleveland Browns, Cavaliers, and Guardians.
Claiming the eighth spot on Zillow’s list, Cleveland’s home values are projected to remain stable, making it an attractive prospect for buyers. The city’s low housing costs further set it apart.
