Three Valley cities cracked a ranking of the top 40 rising housing markets nationwide, according to a study by SmartAsset.
The fourth-annual study analyzed historical U.S. Census data for 317 big cities on changes in population, number of housing units, median income and median home value. Cities in California took two of the top three spots in the ranking.
Phoenix, Peoria and Mesa all cracked the top 15% of the study for their performance in two of the three metrics Smart Asset considered: housing demand and home value growth, said Kara Gibson, spokesperson for SmartAsset.
Out of the 317 cities measured in the report, Phoenix came in at No. 10. Peoria was tied with Richmond, California, at No. 13 and Mesa was ranked No. 39.
“Between 2014 and 2018, population growth outpaced housing unit growth by at least 4% in all three cities, revealing a growing demand for housing,” she said. “Additionally, during the same time period, Phoenix, Peoria and Mesa saw median home values rise by roughly 39%.”
Peoria tied with Richmond, California, for 13th place, while Jurupa Valley, California, was No. 1. Lehigh Acres, Florida, was No. 2 and Oakland, California was No. 3, followed by Hayward, California and Aurora, Colorado rounding out the top five. See the complete rankings here.
Here’s a closer look at how the three Valley cities fared:
About Real Estate Intelligent Marketing (REIM):
REI Marketing is an innovative Real Estate Marketing Company that offers distinctive real estate services to developers and multifamily investors. We are a vibrant, dedicated team of industry professionals with international experience in marketing and multifamily investment.