Key Highlights
- ATTOM Data Solutions Q1 2021 Opportunity Zones Report indicates median home price increases in 75% of Opportunity Zones
- 66% of opportunity zones saw at least 10% increase
What Are Opportunity Zones?
Opportunity Zones are defined in the Tax Act legislation of 2017 as census tracts in or adjacent to low-income neighborhoods that “meet various criteria for redevelopment” in all 50 states, the District of Columbia and US territories.
The US Census Bureau defines census tracts as areas that cover 1,200 – 8,000 residents with an average of some 4,000 residents.
Median Home Price Increases in 75% of Opportunity Zones
Median home prices in 75% of the country’s qualified low-income Opportunity Zones increased during Q1 2021, according to ATTOM Data Solutions’ Q1 2021 Opportunity Zones Report.
ATTOM’s latest quarterly Opportunity Zone Report indicated that median home prices jumped at least +10% in nearly 66% of all the zones analyzed. These percentages mirrored price increase trends in areas outside of Opportunity Zones.
States with Most Zones Where Median Home Prices Increased the Most
States with the largest percentages of zones where median prices increased the most on an annualized basis during Q1 2021 included:
- Arizona – +84% of zones
- Idaho – +83% of zones
- Oregon – + 83% of zones
- Nevada – +82% of zones
- Michigan – +82% of zones
Investors, Check Out Opportunity Zones Where Median Prices Nearly Doubled
Opportunity Zone Q1 2020 Q1 2021
County, State Med. Price Med. Price
4507511400 $68,000 $135,750
Orangeburg County SC
13121006300 $99,000 $197,500
Fulton County GA
48215021701 $127,187 $253,530
Hildalgo County TX
26053950600 $$27,500 $54,788
Gogebic County MI
3915355700 $31,901 $63,500
Summit County OH
50023955200 $93,000 $185,000
Washington County VT
18039000302 $93,750 4186,400
Elkhart County IN
34017010800 $242,500 $480,000
Hudson County NJ
40021978100 $98.000 $193,500
Cherokee County OK
47001021000 $76,00 $150,000
Anderson County TN
To see the other top counties in which Opportunity Zone median prices nearly doubled, click
43% of Zones Had Median Prices Less than $150,000
Even with increases in median home prices, 43% of the 4,579 Opportunity Zones analyzed by ATTOM for this Q1 2021 report had median home prices below $150,000.
This report confirms that the impact from the COVID pandemic hit hardest among lower-income communities.
Thanks to ATTOM Data Solutions
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