Rapid City SD grabs the number one slot in the latest Wall Street Journal/Realtor.com® emerging markets report.
Spring 2022 Marks One-Year Anniversary of WSJ/Realtor.com® Emerging Housing Markets Index
The Spring 2022 Wall Street Journal/Realtor.com® index report highlights emerging housing markets that display solid employment fundamentals, attractive amenities and lifestyle options, access to outdoors and sought-after housing. Speaking to the importance of strong economies and healthy local job markets, 14 of these top 20 choices had unemployment rates below the national 3.6% national rate during Q1 2022.
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Many of these emerging housing markets have a mix of private industries, health care, higher education and government facilities and institutions to attract and retain entrepreneurs, professionals and families. Likewise, many of these markets have a strong blend of small businesses with regional, national and international companies.
Top-20 Emerging Housing Markets for Spring 2022
- Rapid City SD
- Santa Cruz-Watsonville CA
- North Port-Sarasota-Bradenton FL
- Santa Rosa CA
- Naples-Immokalee-Marco Island FL
- Boulder CO
- Coeur d’Alene ID
- Fort Collins CO
- Billings MT
- Raleigh NC
- Columbia MO
- Elkhart-Goshen IN
- Fort Wayne IN
- Burlington NC
- Cape Coral-Fort Myers FL
- Topeka KS
- Johnson City TN
- Yuma AZ
- Tampa-St. Petersburg-Clearwater FL
- San Jose-Sunnyvale-Santa Clara CA
Mid-Sized Cities Lead Rankings
Mid-sized metros with an average population size of approximately 600,000 are a driving presence in this emerging housing markets index.
Nine of the 20 cities on this index list, including #1 Rapid City SD, have populations below a threshold of 250,000.
Raleigh NC, San Jose-Sunnyvale CA and Tampa-St. Petersburg FL, each with more than 1M residents, earned their respective slots on this list largely due “to geographic concentrations in business, jobs, and talent.”
Over 50% of these top emerging markets are Sun Belt cities, desirable to both Americans moving into retirement and young professionals and families looking for more “balanced” lifestyles.
Eight of the top 20 cities on this index list have median single-family home list prices below the current $405,000 national average. Though some of the cities such as San Jose, Santa Cruz and Santa Rosa CA plus Coeur d’Alene ID and Topeka KS are expensive markets, many of the leading metros (Yuma AZ, Elkhart and Fort Wayne IN, and Columbia MO) feature affordable markets that deliver median prices below $320,000.
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Thanks to GlobalNews and the WSJ/Realtor.com.
