In 2024, US cities in the Northeast have taken the lead on Zillow's popular markets list, reflecting a trend where affordability challenges are driving homebuyers towards smaller towns outside major metropolitan suburbs. Seven Northeast markets made the top ten, showcasing a shift in buying habits as consumers seek more affordable options.
"The majority of this year's most popular cities were exurbs -- charming smaller towns situated beyond the suburbs yet within commuting distance of a major metropolitan area," Zillow stated. Manchester, New Hampshire, emerged as the most favored city, followed by Rockford in Illinois and Stamford, Connecticut.
Columbia, Maryland, secured the fourth position. “In another year of higher mortgage rates, areas of affordability and opportunity were center stage in 2024,” remarked Skylar Olsen, Chief Economist at Zillow. “With the rise of hybrid work models, more people are discovering hidden-gem cities they might have previously overlooked when daily commutes were the norm.” This shift highlights the increasing importance of price and lifestyle when choosing a new home, as the pressures of rising costs restrict existing homeowners from listing their properties, leaving those searching for affordability to favor locations that combine financial accessibility with lifestyle perks..