November 2017   Volume 43, Number 11      


The 5 Hottest Hipster Real Estate Markets Across America

While not everyone loves beards or pour-over coffee, when it comes to real estate, hipsters might be a good group to watch, according to new research from realtor.com and Yelp.

The realtor.com economic data team leveraged its Market Hotness Index—which is a tool designed to uncover hot real estate markets where homes are selling quickly and users are browsing a lot of listings—and combined it with Yelp’s data to identify the ZIP codes where the word “hipster” was used most frequently in user reviews, comparing it with the norm for that city. The result: the hottest hipster markets in the United States.

Unsurprisingly, these hip hoods have many features that appeal to millennials: affordable homes (well, in many places), good job prospects, and plenty of other millennials. These are the characteristics that contribute to the potential for rising home values.

“Based on our research, there’s clear evidence that ‘hipster’ popularity in markets like Austin, Texas, has led to mainstream interest and higher home prices over time,” said Javier Vivas, director of economic research for realtor.com.

Ready to find out what hipsters like? These are the 5 hottest hipster real estate markets in America. Are there communities in your area that seem like they might fit these profiles, too?

  1. Columbus, Ohio (Clintonville - 43202)
      Median listing price: $269,455
      Median household income: $44,007
      County unemployment: 3.8 percent
      Millennial share of population: 28.8 percent
    Columbus has much more to offer than simply affordability. Home to Ohio State University, Columbus is rich in art, music, theater, museums, and culture. It also has a strong economy and thriving startup scene, with around 72 startups for every 1,000 businesses in the area.
    Here’s a surprising fact: After New York and Los Angeles, Columbus has more fashion designers than any other U.S. metro area, with a pipeline of young design talent coming from the Columbus College of Art & Design.
    Clintonville, the Columbus neighborhood that topped realtor.com’s list, is a favorite with young buyers, thanks to its affordability, walkability, and friendliness. Trendy cafes, bakeries, and home decor shops are popping up everywhere. The majority of the homes in the area are detached single-family properties with yards that were built in the 1930s and 1940s.
  2. Seattle, Wash. (Capitol Hill - 98122)
      Median listing price: $756,653
      Median household income: $65,367
      County unemployment: 3.2 percent
      Millennial share of population: 26.6 percent
    Amazon has overtaken Microsoft as the big employer in the area, pulling tens of thousands of young technophiles to the city. This neighborhood has a well-established gay community and a lot of historic homes—including no shortage of awe-inspiring mansions.
  3. San Diego, Calif. (North Park - 92104)
      Median listing price: $597,000
      Median household income: $55,130
      County unemployment: 4.1 percent
      Millennial share of population: 23 percent
    San Diego’s thriving startup scene is luring plenty of young buyers and renters to the area. The neighborhood of North Park has an art district with monthly art walks, trendy bars with handcrafted cocktails, and foodie-approved eateries.
  4. Fort Wayne, Ind. (46802*)
      Median listing price: $163,925
      Median household income: $29,591
      County unemployment: 3.3 percent
      Millennial share of population: 19.9 percent
    Fort Wayne is an attractive place to live thanks to affordable home prices and a thriving job market. The 46802 ZIP code, which includes Fort Wayne’s downtown, has been expanding with new construction and new businesses.
  5. Rochester, N.Y. (Highland Park - 14620)
      Median listing price: $154,925
      Median household income: $43,550
      County unemployment: 4.58 percent
      Millennial share of population: 32.1 percent
    Rochester’s Highland Park neighborhood is best known for its arboretum by the same name, which hosts an annual lilac festival that draws more than 500,000 people. Highland Park offers a myriad of cultural events, from Shakespeare in the Park to live music during the summer, creating a fun and tightly knit community

* Some ZIP codes do not align with a single named neighborhood.

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In this issue:

The 5 Hottest Hipster Real Estate Markets Across America

Could DACA Repeal Impact Real Estate?

Houston Rethinks Real Estate Development After Harvey

Hurricane Irma Not Likely to Affect Florida Real Estate Prices

NAR Forced MLS Membership Up for Review

REIT Investors Look to Alternative Property Sectors for Bigger Returns

Berkshire’s HomeServices of America Acquires Long & Foster

Harvey Victims Facing Temporary Housing Shortage in Houston

Malls Need New Business Model Says CBRE Report

The End of Facebook for Real Estate?


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