– Zillow lists Buffalo, New York, as the top city to watch in the realm of affordable real estate in 2024.
– The online real estate behemoth cites the rapid growth of remote work opportunities and Buffalo’s vibrant cultural scene as some of the major draws for investors.
– Other locations on Zillow’s list of top affordable markets include Akron, Ohio; Gary, Indiana; and Albuquerque, New Mexico – essentially places where your paycheck isn’t swallowed whole by your mortgage.
– The company’s team believes more and more people will migrate to these affordable markets, given the flexibility of remote working and the appeal of a less expensive cost of living.
– The sweet seduction of lower living costs amidst the rising chatter of inflation isn’t lost on the real estate market, with Zillow predicting a less ‘metropolitan-focused’ migration pattern than in previous years.
– Affordable markets as per Zillow are areas where monthly mortgage payments eat up less than 30% of the locals’ income stream.
Hot Take
The Thrifty Trail to Real Estate Riches?
The Property Pilgrimage
Firstly, yes, Zillow is that psychic best friend who likes telling you where your next real estate gold mine is. And this time, it seems like they’ve hitched their wagon to the charm of affordably exotic locales like Buffalo and Akron. Buffalo, the new Rome for property pilgrims? Believable if you acknowledge that fresher air and fewer city noises are becoming trendy badges of modern living.
The Dollars Do the Talking
The era of breathing into paper bags at the thought of your near-astronomical mortgage payment could be sunsetting, my friends! Zillow’s team, doing their best oracle impersonation, is telling us to make a beeline for places where your salary stays in your bank longer. Bye-bye metropolitan glamour, hello rustic economic savvy?
The Work from Anywhere Revolution
And let’s not forget the codeword—remote work. We can see that old 9-to-5 office model crumbling as remote work opportunities skyrocket. Why live in an overpriced shoebox in a crowded city when you can Zoom from an affordable, spacious home with a Buffalo, Akron, or Albuquerque address?
In conclusion, if Zillow’s predictions prove true, we might have to part ways with our big-city-dreams for the greener (and more affordable) pastures elsewhere. But hey, if it means being able to afford our avocado toasts AND homeownership, it’s worth taking with a grain of (affordable) salt! So, folks, pack your bags. The ‘great-value-garden-variety’ real estate journey is calling us!
Original article: https://www.inman.com/2024/01/04/this-city-in-new-york-is-zillows-hottest-market-of-2024/
