Demand for homes increased in the past two years due to the ability of Americans to move over the course of the COVID-19 pandemic. This led some people to relocate to their dream cities because they could work from home. When mortgage rates were low, this migration was made easier. The most popular homes are not where people live at all. The single most popular home in America is located in Celina, Ohio, a place so small in population that it can barely be called a city.
Realtor.com makes a list of the most popular homes in America each year. The number of searches on the website was how the list got decided.
The Celina, Ohio, house was popular because there was a jail adjacent to the kitchen. Otherwise, the house was fairly average. It went on the market in June for $275,000. It sold in August for $315,000. This matches a pattern established during the peaks of the home-buying frenzy. Some houses sold for above the asking price. The price of this home was about $75,000 below the median homes sold in the first half of 2022.
The Celina house has some other attractive benefits. It has an indoor pool. It also has four bedrooms, two kitchens and a full bar. The house is huge by the standards of homes sold this year. It covers 6,467 square feet, which is more than double the size of homes sold in the first half. Realtor.com makes the point that some of the house needs to be updated.
Why is the home so inexpensive? Probably because it is in Celina. The city is in the middle of nowhere. It sits in western Ohio near the Indiana border. The closest city is Dayton, which is to the south. Celina has a population of just below 11,000, according to the Census Bureau. That is almost identical to the 2010 figure. A total of 8.8% of the people live in poverty, which is less than the national figure. The median income is about $53,000, below the national figure.
While the house may be popular because it is idiosyncratic, it is in a city where few people want to live.
Sponsored: Tips for Investing
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.