New England recently added a new feather to its cap: it is America’s home-buying hotspot. Six of the top 10 hottest zip codes in 2022 are located in the region, according to a new report from realtor.com®, now in its eighth year running.
All six New England zip codes were situated in unassuming, small cities with an average population of 33,000, including Nashua, New Hampshire; Windham, Maine; and North Attleboro, Massachusetts.
Demand for these areas is being driven not by a love of clam chowder and Colonial-style homes, but by buyers on the hunt for relatively affordable properties with easy access to large, East Coast cities, according to the report. Boston can be reached from all six zip codes in 2.5 hours or less.
The rankings were calculated based on market demand, measured by unique viewers per property, and the pace of the market, measured by the number of days a listing remains active, according to realtor.com®.
The top 10 hottest zip codes:
- 14618 Brighton, New York
- 03062 Nashua, New Hampshire
- 43085 Worthington, Ohio
- 03038 Derry, New Hampshire
- 04062 Windham, Maine
- 18017 Bethlehem, Pennsylvania
- 37604 Johnson City, Tennessee
- 03106 Hooksett, New Hampshire
- 02760 North Attleboro, Massachusetts
- 04210 Auburn, Maine
Other key findings:
- Boston, New York and D.C. were among the top five sources of buyers viewing listings in all of the top 10 hottest zip codes. Buyers in these metros explored zip codes further away than in past years.
- More than half (54.4%) of younger millennials (25 – 34) own in the hottest zips, on average, compared to the national rate of 44.5%.
- Homebuyers set their sights on affordable areas. The average asking price for the top 10 zips was $432,000, 4% lower than the U.S. median listing price in June, $450,000.
“With rising inflation and mortgage rates squeezing monthly housing budgets, this year’s determined buyers are breathing new life into competition for homes in historic areas like New England,” said Danielle Hale, chief economist for realtor.com®. “Our 2022 Hottest ZIPs ranking illustrates how many Americans are redefining their priorities to achieve homeownership while building their careers, by trading downtown life for relatively affordable areas with reasonable part-time commutes to big cities.”