1. Austin, Texas (Metro Area)
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Median sold price:
$571,481
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Average sale time:
11 days
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Home value increase since 2021:
5%
While Austin certainly isn’t as cosmopolitan as New York, San Francisco or Los Angeles, it does have all of the “big city” amenities any buyer could want plus warm weather to boot. Austin is also becoming a Southern hub for large tech companies such as Oracle, Google and Tesla. As of this year, Austin now ranks as the best performing major job market since the beginning of the pandemic.
Analysts predict Austin will continue to be a top market in 2022 and beyond based on population growth alone. Austin, Texas is still experiencing record expansion, with the Austin Housing and Planning Department expecting the metro area to grow by 2% year over year until 2050.
2. Tampa, Florida
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Median sold price:
$364,808
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Average sale time:
13 days
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Home value increase since 2021:
2%
Pretty much any city in Florida is a good bet if you want to achieve homeownership (Orlando and Jacksonville are also experiencing strong market activity in 2022), but Tampa is at the top of our list due to the amount of job growth achieved last year. The Tampa Bay area has added over 84,000 new jobs since the beginning of 2021, which fuels the large demand for housing.
The Tampa Bay area also boasts close proximity to the beach and year-round warm weather (with temperatures in the 60s and 70s even throughout the winter). There are many tourist attractions like Busch Gardens, a zoo, an aquarium and the Tampa Riverwalk.
Florida also has zero state income tax, which means residents get to keep more of their hard-earned money each year.
3. Raleigh, North Carolina
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Median sold price:
$371,682
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Average sale time:
5 days
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Home value increase since 2021:
2%
Nearly 1.4 million people call the “Triangle” area home, with population growth still expected to rise in the next 15 years. Because of attractive, high-paying jobs in tech, science and research, Raleigh-Durham is a very attractive market for investors who want to tackle the high-end rental market.
For those who don’t want to miss out on big city amenities and things to do, Raleigh is a cultural hub of the state of North Carolina, with an arts, science, history and children’s museum. Nature lovers can access the William B. Umstead State Park and the Mountains-to-Sea Trail from the Raleigh metro area as well.
4. Nashville, Tennessee (Metro Area)
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Median sold price:
$460,232
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Average sale time:
8 days
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Home value increase since 2021:
2%
Nashville has ranked in the top 10 metro areas for jobs and economic growth over the last few years. It is best known for having jobs in a diverse array of industries from healthcare to music and tourism to manufacturing. Nashville is currently named the second strongest job market in the nation right behind Austin, Texas.
In addition to job opportunities, Nashville is known for its great restaurants, entertainment, music scene and nightlife. Nashville is also one of the fastest-growing areas for young professionals, not to mention the cost of living is more affordable due to Tennessee not having any state income tax.