A recent ranking of the hottest neighborhoods of 2017 by Redfin shows that high-profile urban centers are being nudged out by edge communities — places just outside city limits that provide all the conveniences of big metro centers without their sky-high prices. Three of the real estate company’s hottest neighborhoods for real estate transactions are next to San Francisco (duking it out with New York for most expensive in the country) and Seattle. With Redfin’s help, we’ve identified the most affordable of the year’s hottest communities — places where median home sale prices remain $300,000 or less.
TREME, NEW ORLEANS
Median home price: $199,200 Median days on the market: 261 Average sale-to-list-price ratio: 89.3 percent Why it’s hot: Located on the border of the French Quarter, Treme is drawing homebuyers for walkability (with a Walk Score of 81 out of 100), nightlife, and good restaurants as well as affordable city living. The neighborhood is made up of turn-of-the-century homes with striking architectural details, although many older buildings are being renovated to include attractive modern touches.
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LAVACA, SAN ANTONIO
Median home price: $282,500 Median days on the market: 90 Average sale-to-list-price ratio: 92.7 percent Why it’s hot: One of the oldest communities in San Antonio, Lavaca is quaint and quiet, with diverse housing stock convenient to downtown. Many of the families in Lavaca were born and raised there, which results in a strong sense of community. Neighbors are known for organizing happy hour get-togethers and potluck dinners. But transplants from big cities in the Northeast are now competing to buy.
MERION VILLAGE, COLUMBUS, OHIO
Median home price: $199,900 Median days on the market: 55 Average sale-to-list-price ratio: 99.2 percent Why it’s hot: Merion Village is seeing a spike in demand among homebuyers who appreciate the character of the homes and consider restoring them a good investment opportunity. The neighborhood is convenient to downtown Columbus without feeling like a mere extension of the city.
ARAPAHO HEIGHTS, DALLAS
Median home price: $277,400 Median days on the market: 31 Average sale-to-list-price ratio: Not available Why it’s hot: Arapaho Heights oozes old-fashioned charm, with many homes in the voguish midcentury modern style — but buyers are also attracted by the industries and businesses popping up in the north Dallas suburbs. A highly ranked school system is a big draw for families. Many people who grew up here are coming back to take advantage.
ADAIR PARK, ATLANTA
Median home price: $128,000 Median days on the market: 69 Average sale-to-list-price ratio: 93.9 percent Why it’s hot: A wave of Atlanta residents are relocating from the suburbs back toward the city, and Adair Park is one of the few remaining communities near downtown that’s still affordable for first-time buyers. With its proximity to the West End MARTA rail station and a bike score of 72 out of 100, Adair Park is attractive to people seeking a car-free lifestyle.
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LAKEWOOD, CLEVELAND
Median home price: $149,000 Median days on the market: 47 Average sale-to-list-price ratio: 97 percent Why it’s hot: One of Cleveland’s inner-ring suburbs, Lakewood is walkable, has booming restaurant and art scenes, and is an easy commute to the city. It’s attracting the attention of millennial homebuyers on the hunt for a first home, as well as empty nesters.
THUNDERBIRD PALMS, PHOENIX
Median home price: $179,700 Median days on the market: 15 Average sale-to-list-price ratio: 96.9 percent Why it’s hot: A slow recovery from the recession has translated into opportunity in Thunderbird Palms. Home prices even now remain low, but interest and competition are growing. The community is particularly attractive in light of expansions at nearby Banner Good Samaritan Medical Center and Arizona State University West, creating job opportunities and housing demand.
LOWER EAST SIDE, MILWAUKEE
Median home price: $216,000 Median days on the market: 87 Average sale-to-list-price ratio: 95.4 percent Why it’s hot: The Lower East Side is Milwaukee’s most affordable mix of downtown living and neighborhood vibe. Buyers are also charmed by Brady Street, known for a variety of boutiques, restaurants, and bars, and Lower East Side has the second-highest Walk Score in all of Milwaukee — 91 out of 100.
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FOX PARK, ST. LOUIS
Median home price: $155,700 Median days on the market: 75 Average sale-to-list-price ratio: 96.4 percent Why it’s hot: Between 1990 and 2010, Fox Park lost 30 percent of its residents. But it’s rebounded, becoming one of the quickest-growing neighborhoods in St. Louis thanks to community businesses, locally owned restaurants, and convenience. Lafayette Park is about a mile away, the Soulard Farmers Market is 1.5 miles away, and the Riverfront Trail is less than four. The eclectic architectural styles of the Fox Park Historic District won it a place on the National Register of Historic Places.
ROCK ISLAND, NORTH LAUDERDALE, FLORIDA
Median home price: $130,000 Median days on the market: 50 Average sale-to-list-price ratio: 95.1 percent Why it’s hot: Rock Island is like living in desirable Oakland Park or Wilton Manors — minus the cost and plus an arts and culture boom that’s brought a flurry of new restaurants, stores, and a microbrewery.
Related: The Best of Florida on a Budget
DOWNTOWN DETROIT
Median home price: $169,500 Median days on the market: 36 Average sale-to-list-price ratio: 94.6 percent Why it’s hot: Detroit has suffered its share of challenges, but the exodus and blight are increasingly a thing of the past — and sale prices are rising to unheard-of levels. Still, even at an eight-year high, home prices in Detroit remain affordable. Little Caesars Arena, future home to the Pistons and Red Wings, is nearing completion at the center of a 50-block entertainment district already bustling with new residents and businesses that will bring more jobs for locals.
WESTSIDE, COLORADO SPRINGS, COLORADO
Median home price: $200,000 Median days on the market: 91 Average sale-to-list-price ratio: 92.9 percent Why it’s hot: Location, location, location, right? Westside is just just a quick walk or drive from the soon-to-be-revitalized South Nevada Avenue in downtown Colorado Springs. Buyers are also charmed by turn-of-the-century homes, nearby hiking trails and picturesque mountains, and access to nightlife. The icing on the cake for many is proximity to Colorado College.
