What do San Diego and Savannah, GA, have in common? They are two of the most-searched neighborhoods on realtor.com® in 2014.
Realtor.com® compiled a list of the Top 10 most-searched neighborhoods and discovered an interesting mix of historic, scenic, urban and waterfront communities.
“The hyper-local markets on this list demonstrate the wonderful diversity of real estate demand across the country,” said Jonathan Smoke, chief economist for realtor.com®.
Topping the list of the most-searched ZIP codes is Orlando, FL, and rounding out the list is Columbus, OH. While these markets may not seem to have much in common, Smoke points to one striking similarity: They are all sellers’ markets.
“In all markets except San Diego, Fort Worth and Savannah, it’s cheaper to own than to rent,” he said.
Having a dual-income household might help, too: All of these markets also show a high concentration of married couples. What’s more, most of the searches are for homes with a median list price of $400,000—almost twice the national median home price of $214,000, Smoke said.
“This underscores that we are clearly in recovery mode,” Smoke added.
Without further ado, here is the list of the Top 10 most-searched ZIP codes on realtor.com® in 2014.*
We picked a listing from each of the top locations to give you a sense of what homes look like in these ZIP codes. Just click on the code to look at other homes in that area.
1. ZIP Code: 32801
1400 E. Church Street, Orlando, FL, $264,000
Median household income: $42,023
Median age: 37
Unemployment rate: 5.4%
Median home price: $276,000
While most people think of Orlando as the home to Walt Disney World, it is also home to some historic neighborhoods with lots of Florida charm.
ZIP code 32801 is downtown Orlando. It has an eclectic mix of people, housing and entertainment. It’s primarily a renters’ neighborhood; just 28% are homeowners, according to a realtor.com® analysis of community level demographic data. This area is a magnet for young people and empty nesters alike.
“It’s a highly desirable place to live,” said Steve Schiffer, real estate agent at Olde Town Brokers. “There is a younger vibe.”
The median age is lower than that of the state of Florida—37 compared with 40—according to realtor.com® local information. It’s also a more educated population: At least 42% of the downtown Orlando residents have attended college, compared with just 38% of Florida residents in general.
The area’s Craftsman bungalows attract buyers who want to be walking distance to Lake Eola, work and restaurants, Schiffer said.
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2. ZIP Code: 89138
11228 Hedgemont Ave., Las Vegas, NV, $498,900
Median household income: $99,314
Median age: 34
Unemployment rate: 6.8%
Median home price: $380,000
This is not the Vegas Strip. There are no flashing lights for all-night buffets and million-dollar jackpots in this upwardly mobile community.
This is Summerlin North, a small, family-friendly community that spans just 4.2 square miles within Las Vegas. It’s an affluent area of large, newer homes owned by married couples with at least one child, according to realtor.com® local information. In fact, 77% of Summerlin North residents own their home—compared with 61% of Nevada residents.
This would probably not be the place for your next girls’ trip. More than 57% of Summerlin North’s population is married, according to the United States Postal Service.
But what’s striking about this ZIP code is that it’s in Las Vegas, once the poster child for the housing market downturn, Smoke noted.
“This ZIP has 90% higher prices than the local market,” he said, adding that the houses sell faster. “This is not a banner year for Las Vegas. It’s still an area of transition, but this one is moving faster.”
ZIP code 89138 is located near the picturesque Red Rock Canyon National Conservation Area, and it enjoys moderate winters and a dry climate. Its residents are well educated—52% attended college—and they earn a higher median income than the rest of the state: $99,314 vs. $54,211, according to realtor.com® local information.
Also, Summerlin North has experienced a 13% increase in its population since 2000, according to realtor.com® local information, while Nevada has grown by 39%.
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3. ZIP Code: 70124
6876 Memphis St., New Orleans, LA, $439,500
Median household income: $68,152
Median age: 36
Unemployment rate: 6%
Median home price: $398,000
This upwardly mobile area of New Orleans is a 5-mile dash to the French Quarter. Here, you’ll find a well-educated community (48% attended college) who own their homes (74%), according to realtor.com® local information. Unlike Bourbon Street, there is no place here for “girls gone wild.”
This small community, known as Lakeview, sits on the shores of Lake Pontchartrain and is home to young families looking for a suburban lifestyle within 10 minutes of downtown restaurants.
“It’s a destination for young professionals with a good job who can afford a house north of $400,000,” said Carl Calamia, real estate agent with Keller Williams in Metairie.
In New Orleans, the average sale price for a house is in the $200,000 range, Calamia added. In the Lakeview area, it’s $366,320, according to realtor.com® local information. New construction homes in this enclave can cost as much as $800,000 and for New Orleans, “that’s high,” Calamia said.
What’s striking about Lakeview is that it is one of the areas hard hit by Hurricane Katrina. Now, years after rebuilding, its value is not lost on the local economy.
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4. ZIP Code: 76109
4224 Oak Park Court, Fort Worth, TX, $474,995
Median household income: $52,488
Median age: 32
Unemployment rate: 4.8%
Median home price: $380,000
Fort Worth is a middle-income area with a young population of well-educated folks. More than 54% of the Fort Worth residents own their home, according to realtor.com® local information.
Overlooking the Trinity River, Fort Worth is home to four universities: Texas Christian University, Texas Wesleyan University, Texas A&M University School of Law and University of North Texas Health Science Center.
The “City of Cowboys and Culture,” as it calls itself, also boasts a number of fine museums, while the Dallas-Fort Worth airport is one of the busiest in the nation.
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5. ZIP Code: 31401
1815 Barnard St, Savannah, GA, $399,999
Median household income: $20,049
Median age: 26
Unemployment rate: 6.7%
Median home price: $284,000
Images of the Deep South come to mind when you mention Savannah, the oldest city in Georgia. Tourists flock to see this “Hostess City of the South.” There is much to offer residents, too, with diverse neighborhoods and a robust shipping and manufacturing sector.
This area is particularly beguiling. The median age of its residents is a mere 26, and the median household income is just over $20,000. It’s a youthful area populated by homeowners (70%), according to realtor.com® local information.
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6. ZIP Code: 46845
13134 Winding Vine Run Fort Wayne, IN
Median household income: $79,919
Median age: 37
Unemployment rate: 4.8%
Median home price: $146,000
In Fort Wayne, it’s all about the job market. The people of Fort Wayne, particularly those in the 46845 ZIP code, are well employed and upwardly mobile.
This is an affluent area where 93% of the people own their home, according to realtor.com® local information. The people here are mostly married professionals with children, the data shows.
Outpacing the rest of the state, 43% of these residents attended college.
What makes ZIP code 46845 so hot?
“Jobs and good schools,” said Todd Wagner, a real estate broker and investor in the area.
People are drawn to the area not only by high-paying jobs and low-cost housing, but also by the 81 miles of biking, hiking and kayaking trails—as well as the Vera Bradley Outlet store.
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7. ZIP Code: 27617
9805 Goodrum Court, Raleigh, NC, $274,900
Median income: $94,927
Median age: 33
Unemployment rate: 4.5%
Median home price: $268,000
The capital of North Carolina, Raleigh is one of the fastest-growing cities in the country, according to the U.S. Census. It is home to majestic oaks that line the downtown and offers a bevy of high-paying jobs.
This ZIP code, 27617, is an affluent area of college-educated, 30-somethings who tend to own their own homes, according to realtor.com® local information.
Long associated with the Research Triangle—an area defined by North Carolina State University, Duke University and the University of North Carolina at Chapel Hill—Raleigh is also home to craft breweries, entrepreneurs and hip restaurants.
With a median household income of nearly $95,000, the residents of this ZIP code tend to be married couples without children, according to realtor.com® local information. So, they may have a little more money to spend on dining and entertaining.
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8. ZIP Code: 92106
3444 Carleton St., San Diego, CA, $974,000
Median income: $70,059
Median age: 37
Unemployment rate: 5.8%
Median home price: $974,000
It’s no secret: California is an expensive place to live. Southern California is known for its balmy weather, palm trees and sandy beaches. It’s the dream, for many. For those lucky enough to call San Diego home, it’s a realty bonanza.
This area of San Diego, known as Fleetridge, has a 60/40 mix of homeowners to renters, according to realtor.com® local information. It’s an upwardly mobile area of married couples with a higher-than-average rate of college educated residents: At least 55% of Fleetridge residents have at least attended college compared with just 37% of U.S. residents.
This U.S.-Mexico border city is not just home to a healthy middle class, it also is home to a large military population.
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9. ZIP Code: 60646
6315 N. Lemont Ave., Chicago, IL, $749,900
Median income: $73,445
Median age: 42
Unemployment rate: 6.1%
Median home price: $398,000
Edgebrook, as this tony Chicago neighborhood is called, sits at the far northwestern edge of the city. It’s probably as far as one can get from the city center and still be within the city limits, noted Jill Cunningham, a real estate broker with @properties. With a 30-minutes commute to work downtown, this neighborhood has all the suburban comforts without leaving the city.
This neighborhood also has a cadre of owners: More than 77% of its residents own their homes, and most are college educated, according to realtor.com® local information.
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10. ZIP Code: 43212
1677 W. 3rd Ave., Columbus, OH, $289,900
Median income: $43,282
Median age: 30
Unemployment rate: 3.9%
Median home price: $298,000
If you’re dreaming of a white Christmas, Columbus may be right for you. This Midwestern city is home to a growing population and rising home values, at least in ZIP code 43212.
This densely populated, high-turnover area favors renters: In fact, just 40% of this ZIP code’s residents own their home, according to realtor.com® local information.
But that could be changing. As the data shows, search activity is up. Buyers could be waiting for more inventory to hit the market before transitioning from renter to owner.
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* Rankings are based on realtor.com® search and unique visitor statistics at ZIP level from January to November 2014 (desktop only, excludes mobile and web apps). Figures are adjusted relative to housing stock. Ranked ZIPs have a minimum of 5,000 listings.
The post America’s Most-Searched ZIP Codes of 2014 appeared first on Top News.