The Top 10 Housing Markets for 2024, According to Zillow

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Townhouse in Buffalo, New York

Cities with affordable real estate prices and a strong employment climate are expected to become the hottest housing markets in 2024, according to real estate website Zillow.

These markets — primarily located in the South, Midwest and Great Lakes region — will shine this year because of their lower costs. In a recent report on the state of housing in America, Anushna Prakash, data scientist for Zillow Economic Research, says:

“Housing markets are healthiest where affordable home prices and strong employment are giving young hopefuls a real shot at buying and starting to build equity.”

So which markets will fare best? Zillow says that among the nation’s 50 most populous metros, the following places will be the hottest housing markets of 2024.

10. Tampa, Florida

Tampa, Florida
picturin /

The potential for falling interest rates — courtesy of the Federal Reserve Board — in 2024 has Tampa-area real estate agents excited.

Lauren Swoboda of Compass Real Estate recently told Tampa television station WFTS that lower rates likely would “increase the demand for buyers and bring them back to market after being in about a year or so hiatus.”

9. Orlando, Florida

House in Orlando, Florida
Tom Fawls /

Markets such as Orlando are expected to boom as demand for housing surges and eclipses the supply.

As Mark Jones, a town architect with LRK, recently remarked to Orlando television station WKMG:

“It’s supply and demand, and then when you look at who is moving here it’s the baby boomer generation, the wealthiest generation. When you put that on top of higher interest rates, people staying in place in their existing homes and lowering the pool of available homes, it certainly is a means to inflate the price.”

8. Cleveland, Ohio

House in Cleveland
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Cleveland is an example of an affordable city that is getting a second look from buyers who might be priced out of other markets.

It helps that you can find good jobs here: The Rust Belt city made the list in “15 Affordable Cities With the Most 6-Figure Jobs.”

7. Charlotte, North Carolina

Charlotte, North Carolina
Jon Bilous /

Charlotte real estate agent David Hoffman recently told local television station WCNC that “the cost of living is higher than it’s ever been in Charlotte.” However, that doesn’t mean people have stopped flocking to the Southern city:

“It’s still one of the more popular places to live. But you’ve just got to get people here to see the warm climate in the fall and winter and see the four seasons. There’s lots of job opportunities.”

6. Atlanta

Atlanta, Georgia homes
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John Ryan, chief marketing officer for Georgia MLS, recently told Axios Atlanta that as 2023 came to a close, there were more homes for sale in the state:

“What that means is that there’s going to be…a little bit more availability of houses as we move into 2024.”

5. Providence, Rhode Island

Providence, Rhode Island houses homes
Joy Brown /

If mortgage rates begin to ease, 2024 could bring more activity to the Providence market, says real estate agent Stephen Antoni.

As Antoni recently told the Providence Journal:

“My guess is by mid-to-late January, we’ll have a regular influx of inventory and by the spring, if interest rates keep coming down, inventory could build again and we could get to a more working market.”

4. Indianapolis

winter scene homes in Indianapolis, Indiana
Ted Alexander Somerville /

A lack of inventory created a slowdown in the Indianapolis housing market toward the end of 2023. The hope is that mortgage rates will fall this year, bringing renewed activity to the local real estate market.

If you plan to move here, you might want to try to do so before the April 8 total solar eclipse: Indianapolis made the list of the best places to view the total eclipse of 2024.

3. Columbus, Ohio

Historic homes in Columbus, Ohio
Karen and Scott Wightwick /

Columbus flies a bit under the radar, but it is actually the biggest city in Ohio and is much larger than more famous cities such as Cleveland and Cincinnati.

Columbus also finished No. 4 on the list in “The 15 Cleanest Big Cities in America.”

2. Cincinnati

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Zillow notes that inventory is “moving extremely quickly” in both Cincinnati and fellow Ohio city Columbus. In 2024, the number of owner-occupied households is expected to rise faster in these two cities than anywhere else.

That is an “indication of family formation and population growth,” according to Zillow.

1. Buffalo, New York

Buffalo New York homes
Richard Cavalleri /

Not only are homes affordable in Buffalo, but Zillow says the city has “the highest number of new jobs per new home permitted” of all the cities on this list.

New jobs mean a larger number of new residents, which should help to heat up the local housing market.

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