It can be difficult to fully predict what the housing market will look like in 2024. What is less difficult, however, is using relevant data to forecast housing market trajectories at the local level.
In September 2023, SmartAsset utilized Zillow data to rank the largest 2,000 U.S. zip codes by the highest projected home price increases. The results reveal the cities, and their respective zip codes, with promising projected home value increases. According to SmartAsset, creating these types of models helps potential buyers figure out if they should buy now or wait to buy a home during winter months. It also helps to better inform sellers when they should list their home.
From least to greatest projected price increase, here are the top 10 cities, and zip codes, where home prices could grow the most in 2024.
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Post Falls, Idaho (83854)
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Projected price increase: 8.2%
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Home value (July 31, 2023): $483,973
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Projected 2024 home price: $523,659
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Knoxville, Tennessee (37918)
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Projected price increase: 8.3%
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Home value (July 31, 2023): $304,881
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Projected 2024 home price: $330,186
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Lenoir, North Carolina (28645)
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Projected price increase: 8.4%
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Home value (July 31, 2023): $190,862
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Projected 2024 home price: $206,894
Brownsville, FL (33142)
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Projected price increase: 8.5%
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Home value (July 31, 2023): $375,406
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Projected 2024 home price: $407,316
North Miami Beach, Florida (33162)
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Projected price increase: 8.5%
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Home value (July 31, 2023): $443,856
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Projected 2024 home price: $481,584
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Muskegon, Michigan (49442)
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Projected price increase: 8.6%
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Home value (July 31, 2023): $158,324
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Projected 2024 home price: $171,940
Winston-Salem, North Carolina (27105)
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Projected price increase: 8.7%
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Home value (July 31, 2023): $150,202
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Projected 2024 home price: $163,269
North Miami, Florida (33161)
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Projected price increase: 8.8%
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Home value (July 31, 2023): $461,145
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Projected 2024 home price: $501,725
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Knoxville, Tennessee (37920)
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Projected price increase: 9.5%
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Home value (July 31, 2023): $283,744
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Projected 2024 home price: $310,699
Rio Grande City, Texas (78582)
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Projected price increase: 12.3%
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Home value (July 31, 2023): $113,368
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Projected 2024 home price: $127,312
Photo Disclaimer: Please note photos are for representational purposes only. As a result, some of the photos might not reflect the exact ZIP codes or locations listed in this article.
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This article originally appeared on GOBankingRates.com: Housing Market Projections 2024: 10 Cities Where Prices Could Grow the Most
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