In Less Than a Decade, You’ll Wish You Bought A Home In These 14 Metros

yahoo!finance November 5, 2023

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In Less Than a Decade, You’ll Wish You Bought A Home In These 14 Metros

Although the housing market is often spoken of in aggregate, variations in pricing and market performance can be very localized. For example, according to data from Zillow, the anticipated one-year growth rate for home prices in the U.S. as a whole is 1.7%, with a median price of $395,220 expected to be reached in 2033. But in fast-growing markets like Columbia, Missouri, that anticipated rate is 6.4% — more than three times the national average.

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To determine which are the most attractive cities in which to buy real estate over the coming decade, GOBankingRates looked at homes that are currently priced below the national median of $333,910 with anticipated growth rates in excess of the projected 1.7% national rate. We issued a caveat that of course home prices don’t move in a strictly linear fashion; however, the anticipated one-year growth rate was used primarily to identify housing markets that are moving in the right direction. Cities fulfilling this criteria — and with prices expected to exceed the national average at some point over the next data — are included here in the reverse order of their rankings.

benkrut / Getty Images/iStockphoto
 
benkrut / Getty Images/iStockphoto
14. Dover, Delaware
  • March 2023 Home Value: $327,620

  • 1-Year Growth Projection: 2.1%

  • Year Projected Home Value Will Surpass the US Average: 2028

  • 2028 Projected Home Value: $363,496

  • 2033 Projected Home Value: $403,300

Homes in Dover are currently just a touch below the national average. But even though prices aren’t growing exceptionally fast, they are projected to break through the national average in just five years.

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Sean Pavone / Getty Images/iStockphoto
 
Sean Pavone / Getty Images/iStockphoto
13. Lakeland, Florida
  • March 2023 Home Value: $312,534

  • 1-Year Growth Projection: 2.6%

  • Year Projected Home Value Will Surpass the US Average: 2031

  • 2031 Projected Home Value: $383,775

  • 2033 Projected Home Value: $403,991

You’ll have to wait eight years for homes in Lakeland to cross the national average. But you’ll pay more than $20,000 below the current national average if you buy now.

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Sean Pavone / Getty Images/iStockphoto
 
Sean Pavone / Getty Images/iStockphoto
12. Huntsville, Alabama
  • March 2023 Home Value: $286,064

  • 1-Year Growth Projection: 3.9%

  • Year Projected Home Value Will Surpass the US Average: 2031

  • 2031 Projected Home Value: $388,497

  • 2033 Projected Home Value: $419,391

Homes in Huntsville are nearly $50,000 below the national average currently. But even with that massive deficit to makeup, home prices are expected to cross the national average in just eight years.

BDphoto / Getty Images
 
BDphoto / Getty Images
11. Pensacola, Florida
  • March 2023 Home Value: $288,127

  • 1-Year Growth Projection: 3.9%

  • Year Projected Home Value Will Surpass the US Average: 2030

  • 2030 Projected Home Value: $376,610

  • 2033 Projected Home Value: $422,415

Homes in Pensacola are among the cheapest on this list, but the sporty 3.9% growth projection will launch prices beyond the national average by 2030.

Sean Pavone / Getty Images/iStockphoto
 
Sean Pavone / Getty Images/iStockphoto
10. Albuquerque, New Mexico
  • March 2023 Home Value: $311,467

  • 1-Year Growth Projection: 3.1%

  • Year Projected Home Value Will Surpass the US Average: 2029

  • 2029 Projected Home Value: $374,080

  • 2033 Projected Home Value: $422,668

Albuquerque home prices are expected to gain about $63,000 on average over the next six years, at which time they will exceed the national average.

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Real Window Creative / Shutterstock.com
 
Real Window Creative / Shutterstock.com
9. Yakima, Washington
  • March 2023 Home Value: $325,233

  • 1-Year Growth Projection: 3.1%

  • Year Projected Home Value Will Surpass the US Average: 2025

  • 2025 Projected Home Value: $345,710

  • 2033 Projected Home Value: $441,348

Homes in Yakima may currently be below the national average, but you’ll want to act fast. Projections have prices exceeding the national average in just two short years.

Michael Warren / Getty Images/iStockphoto
 
Michael Warren / Getty Images/iStockphoto
8. Fayetteville, Arkansas
  • March 2023 Home Value: $311,752

  • 1-Year Growth Projection: 3.8%

  • Year Projected Home Value Will Surpass the US Average: 2027

  • 2027 Projected Home Value: $361,908

  • 2033 Projected Home Value: $452,671

Fayetteville may get overlooked by its larger neighbors, but it’s a great option for those looking for affordable but-appreciating homes. After projected home values exceed the national average in 2027, they could end up appreciating by over $140,000 in the next 10 years.

George Dodd / Getty Images/iStockphoto
 
George Dodd / Getty Images/iStockphoto
7. Daphne, Alabama
  • March 2023 Home Value: $328,632

  • 1-Year Growth Projection: 3.3%

  • Year Projected Home Value Will Surpass the US Average: 2025

  • 2025 Projected Home Value: $350,680

  • 2033 Projected Home Value: $454,688

Homes in Daphne are the highest-priced on this list, just $5,000 or so below the national average. This shortens the time that you’ll have to wait for prices to exceed the national average, which is projected to happen in just two years.

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Sean Pavone/iStockPhoto / iStock.com
 
Sean Pavone/iStockPhoto / iStock.com
6. Savannah, Georgia
  • March 2023 Home Value: $297,773

  • 1-Year Growth Projection: 4.5%

  • Year Projected Home Value Will Surpass the US Average: 2028

  • 2028 Projected Home Value: $371,080

  • 2033 Projected Home Value: $462,433

Homes in Savannah are still priced low, but that’s projected to change rapidly. While prices are about $36,000 below the national average currently, they could be as much as $67,000 above the national average in 10 years.

Kruck20 / Getty Images/iStockphoto
 
Kruck20 / Getty Images/iStockphoto
5. Knoxville, Tennessee
  • March 2023 Home Value: $299,255

  • 1-Year Growth Projection: 4.5%

  • Year Projected Home Value Will Surpass the US Average: 2028

  • 2028 Projected Home Value: $372,926

  • 2033 Projected Home Value: $464,734

Much like Savannah, homes in Knoxville are well below the national average now, but that will change in just five years. In 10 years, they could be more than 17% above the national average.

©Shutterstock.com
 
©Shutterstock.com
4. Panama City, Florida
  • March 2023 Home Value: $321,252

  • 1-Year Growth Projection: 3.9%

  • Year Projected Home Value Will Surpass the US Average: 2025

  • 2025 Projected Home Value: $346,798

  • 2033 Projected Home Value: $470,979

Panama City is well known as a Spring Break destination, but it could also prove to be a gold mine for homebuyers. Prices are expected to break the national average in just two short years and could gain in value by about $150,000 in 10 years.

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Sean Pavone / Shutterstock.com
 
Sean Pavone / Shutterstock.com
3. Athens, Georgia
  • March 2023 Home Value: $319,124

  • 1-Year Growth Projection: 4%

  • Year Projected Home Value Will Surpass the US Average: 2026

  • 2026 Projected Home Value: $358,971

  • 2033 Projected Home Value: $472,382

The projected 4% growth rate of Athens home prices will lift them above the national average in three years. That could push prices up nearly 50% in 10 years.

DenisTangneyJr / iStock.com
 
DenisTangneyJr / iStock.com
2. Atlantic City, New Jersey
  • March 2023 Home Value: $325,013

  • 1-Year Growth Projection: 4%

  • Year Projected Home Value Will Surpass the US Average: 2025

  • 2025 Projected Home Value: $351,534

  • 2033 Projected Home Value: $481,098

Homes in Atlantic City may be below the national average now, but they’re anticipated to be more than 20% above the national average by 2033.

Sean Pavone / Shutterstock.com
 
Sean Pavone / Shutterstock.com
1. Columbia, MO
  • March 2023 Home Value: $271,245

  • 1-Year Growth Projection: 6.4%

  • Year Projected Home Value Will Surpass the US Average: 2028

  • 2028 Projected Home Value: $369,888

  • 2033 Projected Home Value: $504,403

Columbia has the fastest projected growth rate on this list, at a significant 6.4%. This should push prices there above the national average in just five years.


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