By Zain Deane
Updated Nov 8, 2022
By Zain Deane
Updated Nov 8, 2022
The housing market has exploded in recent years due to fluctuating mortgage rates, high demand accompanied by low inventory, as well as remote working opportunities allowing millions to rethink their home base. Americans have begun to rethink their priorities in a living space, many prioritizing space and comfort while others have flocked to bustling metropolises, leading to an exponential increase in home ownership.
Whether you are interested in selling your home for a large profit or researching the most friendly market for first time home buying, House Method conducted a study to rank the hottest (and some of the cooler) housing markets in the U.S.
We analyzed data on the 100 largest MSA’s (Metropolitan Statistical Areas) and ranked them according to seven factors, such as affordability, inventory and population growth. Read on for the complete rankings and explanation of the methodology behind this study.
Here are some of our most interesting findings:
Below you’ll find the cities where homes are flying off the market fastest in ranked order, showing the rank, total score, and specific factor-category rank.
Rank | MSA | Overall Score | Affordability Rank | Inventory Rank | Population Growth Rank |
1 | Tampa-St. Petersburg-Clearwater, Fla. | 38.21 | 67 | 6 | 26 |
2 | Phoenix-Mesa-Scottsdale, Ariz. | 36.71 | 73 | 14 | 13 |
3 | Austin-Round Rock, Texas | 36.66 | 82 | 4 | 11 |
4 | Seattle-Tacoma-Bellevue, Wash. | 36.42 | 93 | 30 | 18 |
5 | San Jose-Sunnyvale-Santa Clara, Calif. | 36.28 | 99 | 75 | 65 |
6 | Raleigh, N.C. | 36.27 | 58 | 19 | 15 |
7 | Charlotte-Concord-Gastonia, N.C.-S.C. | 36.22 | 51 | 12 | 14 |
8 | Cape Coral-Fort Myers, Fla. | 36.04 | 77 | 20 | 16 |
9 | Las Vegas-Henderson-Paradise, Nev. | 35.86 | 79 | 16 | 35 |
10 | Salt Lake City, Utah | 35.84 | 70 | 76 | 60 |
11 | San Francisco-Oakland-Hayward, Calif. | 35.67 | 100 | 32 | 51 |
12 | Lakeland-Winter Haven, Fla. | 35.64 | 45 | 50 | 10 |
13 | Colorado Springs, Colo. | 35.27 | 66 | 80 | 30 |
14 | San Diego-Carlsbad, Calif. | 35.2 | 96 | 33 | 54 |
15 | Charleston-North Charleston, S.C. | 35.16 | 78 | 42 | 8 |
16 | Nashville-Davidson–Murfreesboro–Franklin, Tenn. | 34.91 | 64 | 27 | 41 |
17 | Indianapolis-Carmel-Anderson, Ind. | 34.84 | 30 | 37 | 56 |
18 | Orlando-Kissimmee-Sanford, Fla. | 34.82 | 62 | 17 | 24 |
19 | Boise City, Idaho | 34.77 | 87 | 68 | 49 |
20 | Portland-Vancouver-Hillsboro, Ore.-Wash. | 34.6 | 84 | 47 | 38 |
21 | Dallas-Fort Worth-Arlington, Texas | 34.57 | 53 | 5 | 43 |
22 | Columbus, Ohio | 34.5 | 32 | 52 | 31 |
23 | Stockton-Lodi, Calif. | 34.14 | 86 | 95 | 59 |
24 | Los Angeles-Long Beach-Anaheim, Calif. | 34.02 | 97 | 9 | 66 |
25 | Riverside-San Bernardino-Ontario, Calif. | 33.88 | 85 | 13 | 47 |
26 | Atlanta-Sandy Springs-Roswell, Ga. | 33.81 | 50 | 23 | 23 |
27 | Spokane-Spokane Valley, Wash. | 33.75 | 69 | 94 | 50 |
28 | North Port-Sarasota-Bradenton, Fla. | 33.51 | 83 | 26 | 17 |
29 | Deltona-Daytona Beach-Ormond Beach, Fla. | 33.49 | 71 | 31 | 9 |
30 | Jacksonville, Fla. | 33.22 | 72 | 21 | 37 |
31 | Dayton, Ohio | 33.18 | 10 | 64 | 5 |
32 | Durham-Chapel Hill, N.C. | 33.09 | 76 | 83 | 20 |
33 | Denver-Aurora-Lakewood, Colo. | 33.04 | 75 | 29 | 21 |
34 | Grand Rapids-Wyoming, Mich | 32.5 | 33 | 65 | 58 |
35 | Richmond, Va. | 32.36 | 38 | 46 | 36 |
36 | Detroit-Warren-Dearborn, Mich | 32.26 | 26 | 10 | 100 |
37 | Cincinnati, Ohio-Ky.-Ind. | 32.19 | 21 | 41 | 69 |
38 | Portland-South Portland, Maine | 32.01 | 81 | 97 | 71 |
39 | Miami-Fort Lauderdale-West Palm Beach, Fla. | 31.93 | 91 | 3 | 27 |
40 | Chattanooga, Tenn.-Ga. | 31.84 | 36 | 72 | 55 |
41 | Sacramento–Roseville–Arden-Arcade, Calif. | 31.58 | 89 | 44 | 39 |
42 | Fresno, Calif. | 31.5 | 74 | 90 | 57 |
43 | Wichita, Kan. | 31.49 | 13 | 88 | 76 |
44 | Knoxville, Tenn. | 31.37 | 37 | 61 | 63 |
45 | Omaha-Council Bluffs, Neb.-Iowa | 31.35 | 39 | 66 | 68 |
46 | Bakersfield, Calif. | 31.35 | 61 | 39 | 22 |
47 | Minneapolis-St. Paul-Bloomington, Minn.-Wis. | 31.34 | 49 | 15 | 34 |
48 | Albany-Schenectady-Troy, N.Y. | 31.24 | 35 | 49 | 2 |
49 | Albuquerque, N.M. | 30.9 | 46 | 71 | 73 |
50 | Providence-Warwick, R.I.-Mass. | 30.88 | 80 | 84 | 81 |
51 | Madison, Wis. | 30.86 | 52 | 85 | 40 |
52 | Columbia, S.C. | 30.69 | 18 | 57 | 3 |
53 | Baltimore-Columbia-Towson, Md. | 30.53 | 40 | 25 | 95 |
54 | Oxnard-Thousand Oaks-Ventura, Calif. | 30.53 | 94 | 86 | 67 |
55 | Worcester, Mass.-Conn. | 30.47 | 68 | 96 | 80 |
56 | Hartford-West Hartford-East Hartford, Conn. | 30.34 | 44 | 89 | 1 |
57 | Springfield, Mass. | 30.27 | 48 | 78 | 61 |
58 | Kansas City, Mo.-Kan. | 30.23 | 31 | 34 | 52 |
59 | New Orleans-Metairie, La. | 30.15 | 29 | 40 | 45 |
60 | Boston-Cambridge-Newton, Mass.-N.H. | 30.03 | 92 | 69 | 44 |
61 | Virginia Beach-Norfolk-Newport News, Va.-N.C. | 30.03 | 65 | 22 | 75 |
62 | Greenville-Anderson-Mauldin, S.C. | 29.99 | 22 | 59 | 25 |
63 | Tucson, Ariz. | 29.8 | 57 | 60 | 62 |
64 | Harrisburg-Carlisle, Pa. | 29.79 | 23 | 93 | 19 |
65 | Houston-The Woodlands-Sugar Land, Texas | 29.77 | 34 | 2 | 46 |
66 | St. Louis, Mo.-Ill. | 29.64 | 16 | 24 | 96 |
67 | New York-Newark-Jersey City, N.Y.-N.J.-Pa. | 29.57 | 95 | 1 | 85 |
68 | Washington-Arlington-Alexandria, DC-Va.-Md.-W. Va. | 29.35 | 88 | 11 | 29 |
69 | New Haven-Milford, Conn. | 29.21 | 55 | 91 | 7 |
70 | Philadelphia-Camden-Wilmington, Pa.-N.J.-Del.-Md. | 29.19 | 41 | 7 | 70 |
71 | Louisville/Jefferson County, Ky.-Ind. | 29.08 | 19 | 51 | 72 |
72 | Oklahoma City, Okla. | 29.01 | 60 | 38 | 32 |
73 | Rochester, N.Y. | 28.87 | 6 | 73 | 92 |
74 | Scranton–Wilkes-Barre–Hazleton, Pa. | 28.84 | 7 | 74 | 6 |
75 | Allentown-Bethlehem-Easton, Pa.-N.J. | 28.53 | 25 | 58 | 12 |
76 | Tulsa, Okla. | 28.47 | 11 | 54 | 74 |
77 | Buffalo-Cheektowaga-Niagara Falls, N.Y. | 28.26 | 54 | 77 | 93 |
78 | Akron, Ohio | 28.17 | 8 | 81 | 89 |
79 | Chicago-Naperville-Elgin, Ill.-Ind.-Wis. | 28.13 | 56 | 8 | 87 |
80 | Augusta-Richmond County, Ga.-S.C. | 28.05 | 27 | 67 | 78 |
81 | San Antonio-New Braunfels, Texas | 28.03 | 42 | 18 | 28 |
82 | El Paso, Texas | 27.14 | 12 | 62 | 64 |
83 | Memphis, Tenn.-Miss.-Ark. | 27.1 | 15 | 55 | 86 |
84 | Baton Rouge, La. | 27.05 | 20 | 43 | 98 |
85 | Cleveland-Elyria, Ohio | 27.01 | 2 | 35 | 97 |
86 | Birmingham-Hoover, Ala. | 26.29 | 24 | 45 | 94 |
87 | Toledo, Ohio | 26.25 | 4 | 82 | 99 |
88 | Pittsburgh, Pa. | 25.68 | 17 | 28 | 91 |
89 | Des Moines-West Des Moines, Iowa | 25.53 | 59 | 48 | 79 |
90 | Little Rock-North Little Rock-Conway, Ark. | 25.51 | 43 | 63 | 82 |
91 | Youngstown-Warren-Boardman, Ohio-Pa. | 24.71 | 1 | 87 | 4 |
92 | Milwaukee-Waukesha-West Allis, Wis. | 24.27 | 47 | 56 | 90 |
93 | Syracuse, N.Y. | 24.25 | 5 | 79 | 77 |
94 | Palm Bay-Melbourne-Titusville, Fla. | 21.4 | 63 | 53 | 33 |
95 | Honolulu, Hawaii | 20 | 98 | 36 | 83 |
96 | Jackson, Miss. | 19.51 | 3 | 70 | 84 |
97 | Bridgeport-Stamford-Norwalk, Conn. | 18.01 | 90 | 99 | 88 |
98 | Greensboro-High Point, N.C. | 15.03 | 28 | 98 | 42 |
99 | McAllen-Edinburg-Mission, Texas | 12.83 | 9 | 92 | 48 |
100 | Winston-Salem, N.C. | 7.57 | 14 | 100 | 53 |
Our analyses found that Tampa-St. Petersburg-Clearwater, Florida, tops the list as the hottest housing market this year. Homes are sitting on the market for the least amount of time before selling, selling for top dollar, and attracting new residents at a rapid rate. Low inventory combined with a quick sale rate contributed to its high score – and it’s important to note that many of the top spots ranked poorly for affordability.
As these hot housing markets continue to gain traction, we can assume that affordability will continue to dwindle. The other top 5 spots were rounded out by:
Jackson, Mississippi, Bridgeport-Stamford-Norwalk, Connecticut, Greensboro-High Point, North Carolina, McAllen-Edinburg-Mission, Texas and Winston-Salem, North Carolina received the lowest ranking for hottest housing markets. These markets remain cooler than those who ranked highly due to ample housing inventory and slower population growth. Although it is still a seller’s market, these MSA’s may not fly off the market quite as quickly as their high-ranking counterparts.
To find the hottest housing markets in 2022, we looked at data for the 100 largest MSA’s (Metropolitan Statistical Areas) in the United States. We ranked the cities using three categories:
In all, there were 7 factors across those three larger categories that are listed below along with their corresponding weights. Each city was graded on an 85-point scale, with a score of 85 representing the hottest housing market.
Finally, we determined each city’s weighted average across all categories to calculate its heat score and used the results to rank-order our sample.
Affordability—45 points
Inventory—35 points
Population Growth—5 points
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