ROCKFORD, Ill. – An Illinois city has risen to the top of Realtor.com’s Hottest Housing Markets list.
What We Know:
Rockford, Illinois, has taken the No. 1 spot, a first for the city.
The December rankings saw Rockford overtaking Manchester, New Hampshire, which has dominated the list 31 times since 2017.
How the List is Evaluated:
The list evaluates the 200 largest metropolitan areas based on factors such as real estate demand, housing inventory, home prices, and community amenities, according to realtor.com.
Rockford’s Rise to the Top:
Rockford had a median home price of $235,000 in March, significantly lower than many other metro areas. Located about 90 miles from both Chicago and Milwaukee, Rockford is known for its hospital systems, aerospace industry, and manufacturing jobs.
Big Picture View:
Realtor.com’s Hottest Housing Markets list shows a regional trend, with most of the top spots going to Midwest cities. More than half of the top markets are in the Midwest, and five of those are in Ohio. None of the cities from the West made the list this year. Rockford’s rise to the top is a sign that buyers are increasingly prioritizing affordability and livability—things that are becoming harder to find in coastal and western markets.
Top 20 Hottest Housing Markets:
- Rockford, IL
- Manchester, NH
- Hartford, CT
- Lancaster, PA
- Reading, PA
- Worcester, MA
- Springfield, MA
- Providence, RI
- Racine, WI
- Oshkosh, WI
- Milwaukee, WI
- Springfield, IL
- Canton, OH
- Akron, OH
- Norwich, CT
- Topeka, KS
- Concord, NH
- Dayton, OH
- Harrisburg, PA
- Peoria, IL
The Source:
The information from this article came from Realtor.com.
Frequently Asked Questions:
Q: What is the criteria for evaluating the Hottest Housing Markets list?
A: The list evaluates the 200 largest metropolitan areas based on factors such as real estate demand, housing inventory, home prices, and community amenities, according to realtor.com.
Q: Why is Rockford, IL on the top of the list?
A: Rockford, IL has taken the No. 1 spot, a first for the city, with a median home price of $235,000 in March, significantly lower than many other metro areas.
Q: What is the regional trend observed in the Hottest Housing Markets list?
A: Realtor.com’s Hottest Housing Markets list shows a regional trend, with most of the top spots going to Midwest cities, with more than half of the top markets in the Midwest and five of those in Ohio.
