Usually, fast growing home prices reflect fast growing demand tied to a healthy job market, a growing population and a steady economy.
Few, if any, of the cities listed on msn.com’s latest list of US cities with the fastest growing home prices meet the “usual” criteria mentioned above. In fact, two of the cities on msn.com’s list are on msn.com’s list of fastest shrinking cities, Elmira NY and Youngstown OH. What gives?
Perhaps cities such as Elmira and Youngtown, long struggling cities in our post-industrial economy, are showing signs of economic revitalization or are experiencing just a temporary turnaround from a continuing negative economic trend?
Whatever the case, here are msn.com’s latest fastest growing US cities in terms of one-year changes in median home sale prices:
Single-family-home price data courtesy of National Association of REALTORS®. Income data courtesy of US Census Bureau’s American Community Survey.
- Glens Falls NY
– +10.1% one-year change in median home sale price
– 2019 median home sale price – $180,400
– 2019 median household income – $58,723
- Atlantic City-Hammonton NJ
– +10.4% one-year change in median home sale price
– 2019 median home sale price – $213,200
– 2019 median household income – $61,777
- Burlington-South Burlington VT
– +10.9% one-year change in median home sale price
– 2019 median home sale price – $324,800
– 2019 median household income – $63,160
- Beaumont-0Port Arthur TX
‘ – +11.4% one-year change in median home sale price
- 2019 median home sale price – $171,100
- 2019 median household income – $49,875
- Abilene TX
– +12.0% one-year change in median home sale price
– 2019 median home sale price – $187,200
– 2019 median household income – $51,130
- Columbia MO
– +12.0% one-year change in median home sale price
– 2019 median home sale price – $208,700
– 2019 median household income – $51,340
- Elmira NY
– +12.3% one-year change in median home sale price
– 2019 median home sale price – $119,400
– 2019 median household income – $51,194
- Boise City-Nampa ID
– +12.5% one-year change in median home sale price
– 2019 median home sale price – $295,600
– 2019 median household income – $55,324
- Youngstown-Warren-Boardman OH
– +13,8% one-year change in median home sale price
– 2019 median home sale price – $107,400
– 2019 median household income – $45,382
- Cumberland MD-WV
- +24.1% one-year change in median home sale price
- 2019 median home sale price – $117,800
- 2019 median household income – $42,113
