Here Are the Top Emerging Housing Markets as Determined by WSJ, Realtor.com
Elkhart-Goshen in northern Indiana checks in with its low unemployment, affordable housing and high quality of life.
Interestingly enough, given the transient nature of Americans post-pandemic, the recreational vehicle capital of the world, Elkhart-Goshen, Ind., is the top emerging market in America based on key housing data and other lifestyle metrics reported in The Wall Street Journal and Realtor.com WSJ/Realtor.com Summer 2022 Emerging Housing Markets Index.
The RV point was made by Marketwatch.com, referring to the town near the state’s northern border that produces about 80 percent of the global supply.
The report called it tops for providing “a high quality of life” where it is expected “future home price appreciation” will occur.
The town is just west of the midway point drawn directly between Chicago and Toledo near I-90.
It also is home to manufacturers including Jayco, Keystone and Conn-Selmer—in addition to regional healthcare and local service providers—and its unemployment rate is 1.6%.
Higher Quality of Life a Top Priority
The index focused on cities where affordability and a higher quality of life is found. These attractive locales, including Burlington, N.C.; Johnson City, Tenn.; Fort Wayne, Ind.; Billings, Mont.; to round out the top five, display solid economic fundamentals, in-demand amenities and lifestyle options, along with a critical dose of affordable homes, according to the report.
“The index also identifies markets that we believe are good areas in which to purchase a home for homeowners and investors alike, with expectations of price appreciation complementing vibrant and diverse communities,” it said.
Top-ranked markets also focused on what would appeal to young professionals and growing families who are looking for better work-life balance.
Twelve of the markets had a median home listing price near or below the national median during the second quarter of 2022, led by Topeka, Kan. and Jefferson City, Mo., with median listing prices just over $200,000.
The rest of the top 10 are Raleigh, N.C.; Rapid City, S.D.; North Port-Sarasota-Bradenton, Fla.; Topeka, Kan.; Visalia-Porterville, Calif.