Are you thinking about moving out of Boulder County? America’s hottest zip code is right here in Colorado. In a testament to American’s desire for backyards and affordable home prices, a suburban zip code in Colorado Springs – 80916 – ranks No. 1 on the Realtor.com® annual list of America’s hottest zip codes.
The list features the most desirable communities in the nation where demand is surging and homes are selling the quickest, according to Realtor.com. The ten leading zip codes are predominantly lower priced homes near more expensive prices in major metro areas—also known as the suburbs.
The suburbs have long been the brunt of comments and connotations with phrases like
“sprawl” and “car-dependent,” yet over the years people have continued to buy homes in these areas. Then came the influence of the COVID pandemic, and moving to the suburbs trended upward as Americans sought more space to live, work, play and entertain.
Most topping the list are more affordable, farther out suburbs or smaller cities priced at a level that first-time buyers can afford.
“The suburbs of today are not your grandfather’s, or even your parents’, suburbs,” says Realtor.com Senior Economist George Ratiu. “Those were really insular places where neighborhoods were basically islands. Today’s suburbs are a lot more integrated – and a lot more diversified.”
Millennials, born between 1981 and 1994/6 are currently between 25 and 40 years old. Millennials make up about a third of buyers in the market for a home, according to the National Association of Realtors®.
When it comes to buying a home, 49% of millennials reported they want to move within their current city. Thirty-one percent reported a desire to move from the city to the nearby suburbs.
Though in some cities the housing market is beginning to decelerate, the home buying competition in the hottest zip codes is still strong.
“Buyers need to be prepared to act fast,” says Realtor.com Chief Economist Danielle Hale.
Realtor.com analyzed more than 29,000 zip codes based on the time it takes properties to sell and how frequently homes were viewed in each zip code from January to June 2021. To be included, zip codes had to have at least 13 active listings each month.
Here are the top four hottest zip codes of 2021, according to the firm’s analysis.
1. Colorado Springs, CO (80916)
• Median list price in zip code: $318,000
• Median list price within the city limits: $472,050
About an hour south of Denver, Colorado Springs housing market has been hot for a several years. This year’s top zip code, 80916, is in eastern Colorado Springs with some parts of it located in the city limits. Prices are significantly lower than Denver and buyers can score significant savings. Homes have a median list price of $318,000—compared with $472,050 for the city overall, reports Realtor.com. Homes stay on the market for about four days on average.
Many of the homes were built in the 1970s and 1980s and prices are going up quickly having risen nearly 20% over the past year. The area offers Colorado’s enticing outdoor lifestyle of hiking, rock climbing, skiing and biking.
2. West Irondequoit, NY (14617)
• Median list price in zip code: $175,000
• Median list price within the city limits: $162,500
Located near Rochester, NY, buyers come from Boston and New York City. They come looking for more affordable real estate with family-friendly big yards and good schools.
3. Peabody, MA (01960)
• Median list price in zip code: $625,000
• Median list price within the city limits: $624,950
Peabody is 20 miles northeast of Boston and offers more affordable homes than the city or closer-in suburbs. It’s attractive to first-time and downsizing buyers due to its single-level, ranch-style houses and lower taxes.
4. Manchester, NH (03103)
• Median list price in zip code: $315,000
• Median list price within the city limits: $314,500
Another neighbor to Boston, Manchester is less than an hour away. Even with last year’s price increase of 30% to $315,000, homes in this New Hampshire town are still 23% lower than the rest of the metro area.
Filling out the top ten are:
5. Brentwood, NC (27616)
6. Lincoln Village, OH (43228)
7. Milford, MA (01757)
8. Concord, NH (03301)
9. Farmington, MI (48336)
10. Franklin, TN (37067)
Read more about the suburban and millennial trends:
By Tom Kalinski. Tom is the broker/owner of RE/MAX of Boulder, the local residential real estate company he established in 1977. He was inducted into Boulder County’s Business Hall of Fame in 2016 and has a 40-year background in commercial and residential real estate. For questions, e-mail Tom at [email protected], call 303.441.5620 or visit