In 2015, coastal tech hubs like San Francisco and Seattle were front and center for housing as millionaires with startup money sought shelter.
"But this year, the markets that shine brightest will be those that manage to strike a good balance between strong income growth, low unemployment and solid home value appreciation," said Zillow Chief economist Dr. Svenja Gudell.
"As the job market continues to hum and opportunity becomes more widespread, the best housing markets are no longer limited to the coasts or one-industry tech towns. This year's hottest markets have something for everyone, whether they're looking for somewhere to raise a family or start their career," she added.
Zillow analysts based their 2016 ranking on three variables: home value appreciation, unemployment rates, and income growth. Moreso than just price appreciation, the combination of these three factors offer a better feel of a local economy and the underlying strength of its housing market.
We put together a list of Zillow's top 10 housing markets for 2016. Check them out below.
10. Portland, Oregon
Forecasted Home Value Appreciation:
5.0%
Income Growth:
1.0%
Unemployment Rate:
5.0%
Source: Zillow
9. Sacramento, California
Forecasted Home Value Appreciation:
5.1%
Income Growth:
1.1%
Unemployment Rate:
5.5%
Source: Zillow
8. Omaha, Nebraska
Forecasted Home Value Appreciation:
3.2%
Income Growth:
1.1%
Unemployment Rate:
2.9%
Source: Zillow
7. Salt Lake City, Utah
Forecasted Home Value Appreciation:
4.4%
Income Growth:
1.0%
Unemployment Rate:
3.1%
Source: Zillow
6. Ogden, Utah
Forecasted Home Value Appreciation:
4.9%
Income Growth:
1.0%
Unemployment Rate:
3.4%
Source: Zillow
5. Boise, Idaho
Forecasted Home Value Appreciation:
4.7%
Income Growth:
1.0%
Unemployment Rate:
3.3%
Source: Zillow
4. Richmond, Virginia
Forecasted Home Value Appreciation:
2.2%
Income Growth:
1.2%
Unemployment Rate:
4.4%
Source: Zillow
3. Dallas-Fort Worth, Texas
Forecasted Home Value Appreciation:
5.6%
Income Growth:
1.1%
Unemployment Rate:
4.0%
Source: Zillow
2. Seattle, Washington
Forecasted Home Value Appreciation:
5.4%
Income Growth:
1.1%
Unemployment Rate:
4.5%
Source: Zillow
1. Denver, Colorado
Forecasted Home Value Appreciation:
5.0%
Income Growth:
1.1%
Unemployment Rate:
3.1%
Source: Zillow
Comments(0)