Where is real estate on the rise in the U.S.? We took a close look at the fastest-rising housing prices by city, examining the fastest-growing real estate markets in each major region of the United States, from Cupertino to Medina to Bal Harbor. The data is based on the median five-year increase in prices per square foot. So which packed-in cities and growing neighborhoods are truly as flourishing as they say, and which declining cities cost comparative pennies for their real estate?
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What Are the Fastest-Growing Real Estate Markets in America?
- Beverly Hills, CA: Famous for being the home of the Hollywood elite, Beverly Hills has been the subject of songs and films for decades, so it’s perhaps surprising that it’s still the fastest-growing real estate market in the U.S.
- Fisher Island, FL: This exclusive club is a mysterious island near Miami Beach, where millionaires pay exorbitant sums just to be a member. It’s one of the more unusual cities on this list due to its small size and $250,000 entry fee.
- Mountain View, CA: This city nestled in the middle of Silicon Valley is, perhaps unsurprisingly, doing quite well as it gathers more and more technical and engineering wizards.
- San Carlos, CA: Just a tad farther up the bay toward infamously expensive San Francisco is another well-to-do city that’s booming.
- Cupertino, CA: Another city in the Bay Area (but farther down toward San Jose) is also famous for its tech. It also happens to be the home of Apple Inc.
What Are the Fastest-Declining Housing Markets?
- Winsted, CT: This is now considered a census-designated place, and is functionally a ghost town, with a population of fewer than 13,000 people.
- Glenbrook, NV: This small community on Lake Tahoe might not be America’s favorite place to live, but it’s a lovely spot to visit.
- Hamburg, NJ: This tiny borough in northern New Jersey now has a population of only slightly more than 3,000.
- Ticonderoga, NY: This tranquil, historic town in the foothills of the Adirondacks is another place that’s more popular to visit rather than live.
- Somers Point, NJ: One of the older settlements in New Jersey is only a few miles south of Atlantic City.