Hot housing market: Canton-Massillon region moves up to No. 2 in national ranking
The Canton-Massillon region is getting some national attention as a desirable housing market.
The Wall Street Journal/Realtor.com Emerging Housing Market Index for spring 2024 ranks Canton as the No. 2 location in the nation, just behind Rockford, Illinois.
Four other Ohio cities are in the top 20: Akron (No. 4), Columbus (No. 8), Dayton (No. 13), and Toledo (No. 18).
The rankings showcase "housing markets that offer shoppers a lower cost of living, including for homes, and thriving local economies that are attractive, but not too crowded," the report says. The quarterly index looks at a variety of factors, from page views of listings to the number of homes for sale and the number of days homes sit on the market before being sold.
Canton-Massillon housing market moves up Wall Street Journal/Realtor.com rankings
The Wall Street Journal/Realtor.com analyzed the nation's 200 most populous metropolitan areas. It notes that the Canton-Massillon market, which includes Carroll County, had a median home listing price in March of $248,000, with an unemployment rate of 3.8%.
The Canton-Massillon housing market was ranked No. 8 a year ago.
“There are good opportunities here,” Arden Lingenhoel, president of the Stark Trumbull Area Realtors, told the Repository for a story in February. “People see it’s a cheaper place to live.”
Researchers noted that more than half of the top 20 markets are in the Midwest and are considered affordable.
"Low-priced metros have dominated the list of Hottest Housing Markets over the last couple of years as buyers sought out affordable areas that offered appealing lifestyle amenities," the report says.
Climate affects housing market rankings
The climate — as in the possibility for severe weather and wildfires, for example — is factored into the rankings for the first time, researchers said.
A recent Realtor.com survey showed that many homebuyers and sellers are concerned about natural disasters. The report noted that Akron and Appleton, Wisconsin, were tied for having the least risk for a natural disaster among the top 20 markets.
How much do homes cost in Ohio's markets?
Here's a look at the median home list prices in each of the five Ohio cities listed, according to the index.
Canton: $248,000
Akron: $212,500
Columbus: $380,000
Dayton: $230,000
Toledo: $230,000
Top 20 emerging real estate markets in the U.S.
Here's a look at the top 20 markets:
Rockford, Illinois: $235,000
Canton-Massillon: $248,000
Ann Arbor, Michigan: $525,000
Akron: $212,500
Springfield, Missouri: $340,000
Fort Wayne, Indiana: $325,000
Manchester-Nashua, New Hampshire: $550,000
Columbus: $380,000
Kingsport-Bristol-Bristol, Tennessee and Virginia: $315,000
Portland-South Portland, Maine: $623,000
Springfield, Massachusetts: $350,000
Burlington-South Burlington, Vermont: $499,000
Dayton: $230,000
Worcester, Massachusetts-Connecticut: $500,000
Lancaster, Pennsylvania: $420,000
Appleton, Wisconsin: $400,000
Hickory-Lenoir-Morgantown, North Carolina: $360,000
Toledo: $230,000
Louisville/Jefferson County, Kentucky-Indiana: $315,000
Lansing-East Lansing, Michigan: $225,000
To read the full report, click here.
This article originally appeared on The Repository: Canton-Massillon housing market ranked as one of top in nation
