10 US Cities With Skyrocketing Home Values

By Paul Ausick Updated Jan 12, 6:24AM EST · Published Nov 11, 9:38AM EST

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10 US Cities With Skyrocketing Home Values — © Thinkstock

If you’ve been paying attention to the real estate market for the past few years, you already know the cities where home prices are rising fastest. They would be San Francisco, Seattle, and Denver, among others.

But where are home values appreciating the most? After all if you buy a house in Seattle, is the 6% to 10% year-over-year growth in the home’s value going to deliver the most for your money?

According to the experts at Realtor.com, home value appreciation in the double digits is more common in less expensive markets rather than in those with already sky-high prices. Values in former manufacturing centers, especially in the Midwest, have been catching up with their coastal brethren but still offer affordable housing.

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Realtor.com analyzed median listing prices in the top 300 U.S. metro areas between September 2014 and September 2017 looking at the percentage change (not the total dollar increase) over one, three, and five years. A $50,000 dollar increase in Boston, for example, where the median price is $489,500 is not the same as $50,000 in home appreciation in Cincinnati, where the median price is $227,400.

Here are the top 10 cities according to Realtor.com’s analysis along with their median home prices and one, three, and five year appreciation percentage.

Omaha, Nebraska
Median: $259,400
One-year change: 20.7%
Three-year change: 62.1%
Five-year change: 73.5%
Santa Maria, California
Median: $1.363 million
One-year change: 20.9%
Three-year change: 62.1%
Five-year change: 73.5%
Charlotte, North Carolina
Median: $327,600
One-year change: 10.7%
Three-year change: 59.4%
Five-year change: 82.9%
Grand Rapids, Michigan
Median: $249,900
One-year change: 8.7%
Three-year change: 56.4%
Five-year change: 72.5%
College Station, Texas
Median: $314,900
One-year change: 2.4%
Three-year change: 55.5%
Five-year change: 85.3%
Lexington, Kentucky
Median: $269,900
One-year change: 14.9%
Three-year change: 53.1%
Five-year change: 61.7%
New Orleans, Louisiana
Median: $274,500
One-year change: 9.8%
Three-year change: 52.5%
Five-year change: 62.4%
Fort Wayne, Indiana
Median: $176,100
One-year change: 22.5%
Three-year change: 52.5%
Five-year change: 67.9%
Columbus, Ohio
Median: $241,300
One-year change: 27.1%
Three-year change: 51.3%
Five-year change: 66.4%
Nashville, Tennessee
Median: $359,900
One-year change: 10.8%
Three-year change: 49.1%
Five-year change: 89.4%

For more details on each city, visit the Realtor.com website.

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About the Author Paul Ausick →

Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.