Key Details:
- The Wall Street Journal/Realtor.com Housing Market Ranking for Fall 2024 highlights the top 20 U.S. housing markets where affordability meets strong local economies.
- This quarter’s top market, Canton-Massillon, Ohio, had a median listing price of just $259,000 in September—more than $165,000 lower than the national average—along with a strong job market.
- Rising buyer demand has driven up home values, making Canton-Massillon an attractive market for investors.
The Fall 2024 housing market has been a mixed bag, with lower mortgage rates in September followed by a return to near-7% rates in late October. That said, according to Realtor.com’s latest report, we’re likely to see an easing of those rates as the year wraps up.
Combined with rising inventory, this could lead to more favorable market conditions, especially in markets most sensitive to fluctuations in mortgage rates.
To help today’s homebuyers identify markets that combine a lower cost of living and robust economies, the Wall Street Journal and Realtor.com have updated their Housing Market Ranking for Fall 2024.
Read on to see which metros have maintained their top 20 ranking, which ones have dropped off the list, and which newcomers have risen in the rankings to take their place.
The WSJ/Realtor.com Housing Market Ranking
The Wall Street Journal/Realtor.com Housing Market Ranking identifies top U.S. housing markets offering both relative affordability and strong local economies, making them attractive for both homebuyers and rental property investors.
The ranking is based on data for the largest 200 U.S. metro areas, using key buyer-friendly metrics. As buyers continue to prioritize cost-effective markets, only four of the top 20 were priced above September’s national median.
Top 20 Ranked U.S. Metros for Fall 2024:
- Canton-Massillon, OH
- Akron, OH
- Milwaukee-Waukesha-West Allis, WI
- Manchester-Nashua, NH
- Kalamazoo-Portage, MI
- Springfield, MA
- Rockford, IL
- Worcester, MA
- Ann Arbor, MI
- Lancaster, PA
- South Bend-Mishawaka, IN
- Fort Wayne, IN
- Dayton, OH
- Erie, PA
- Hartford-West Hartford-East Hartford, CN
- Columbus, OH
- Burlington-South Burlington, VT
- Rochester, NY
- Toledo, OH
- Appleton, WI
Spotlight on #1 City: Canton-Massillon, OH
Canton-Massillon, OH, rose to the number one spot after occupying second place the previous quarter. Located just south of Akron, Canton is situated in a region that includes five Ohio metros in the top 20.
Home of the Pro Football Hall of Fame, Canton is a popular destination for visitors. And its affordability makes it attractive to potential residents. The median listing price in this metro is $165,000 lower than the national average, which is one reason buyer demand has gone up.
- Median listing price in September 2024: $259,000, up 10.2% year-over-year.
- Average days on market: 32 days (4 days less than Fall 2023)
- Active listings: 521 — up 10% year over year, while remaining 51.5% below pre-pandemic levels, which has led to an increase in home prices
- New listings: 412 — down 1.9% year over year
- Home prices rose 60.5% compared to pre-pandemic levels due to scarcity
- Views per property: 57.1% more than the pre-pandemic average
Canton-Massillon has 400,000 residents and a strong job market, with major employers in both healthcare and manufacturing (including Timken Steel and Aultman Hospital). The local unemployment rate is at 4.7%.
Canton’s strong ties with its neighbor Akron provides flexibility for homebuyers with job opportunities across the corridor.
As for buyer traffic and views for Canton homes, 29.1% of home shoppers come from within the Canton-Massillon metro area, and over 60% of viewership comes from within Ohio.
Most out-of-town interest comes from:
- Akron (15.5%)
- Cleveland (12.8%)
- Washington, DC (12.2%)
- New York City (11.7%)
Who’s In & Who’s Out
Read on to see which metros are returning (from the Q2 2024 list), which metros fell off the list, and which metros rose in the ranking to become new top 20 markets.
Returning Top 20 Metros (Also on the Q2 List)
Fifteen metros from the Q2 2024 list returned for Q3, most moving at least one spot from the previous quarter.
The biggest mover was Springfield, MA, which climbed 14 spots from 20 in summer to 6 in the fall. Manchester, NH, and Ann Arbor, MI, stayed rooted to their spots at numbers 3 and 8, respectively.
#1: Canton-Massillon, OH
- Fall 2024 Rank: 1
- Summer 2024 Rank: 2
- Rank Change: 1 spot higher
#2: Akron, OH
- Fall 2024 Rank: 2
- Summer 2024 Rank: 3
- Rank Change: 1 spot higher
#3: Manchester-Nashua, NH
- Fall 2024 Rank: 4
- Summer 2024 Rank: 4
- Rank Change: No change
#4: Kalamazoo-Portage, MI
- Fall 2024 Rank: 5
- Summer 2024 Rank: 14
- Rank Change: 9 spots higher
#5: Springfield, MA
- Fall 2024 Rank: 6
- Summer 2024 Rank: 20
- Rank Change: 14 spots higher
#6: Rockford, IL
- Fall 2024 Rank: 7
- Summer 2024 Rank: 8
- Rank Change: 1 spot higher
#7: Worcester, MA-CT
- Fall 2024 Rank: 8
- Summer 2024 Rank: 17
- Rank Change: 9 spots higher
#8: Ann Arbor, MI
- Fall 2024 Rank: 9
- Summer 2024 Rank: 9
- Rank Change: No change
#9: South Bend-Mishawaka, IN-MI
- Fall 2024 Rank: 11
- Summer 2024 Rank: 5
- Rank Change: 6 spots lower
#10: Fort Wayne, IN
- Fall 2024 Rank: 12
- Summer 2024 Rank: 1
- Rank Change: 11 spots lower
#11: Dayton, OH
- Fall 2024 Rank: 13
- Summer 2024 Rank: 18
- Rank Change: 5 spots higher
#12: Columbus, OH
- Fall 2024 Rank: 16
- Summer 2024 Rank: 12
- Rank Change: 4 spots lower
#13: Burlington-South Burlington, VT
- Fall 2024 Rank: 17
- Summer 2024 Rank: 6
- Rank Change: 11 spots lower
#14: Toledo, OH
- Fall 2024 Rank: 19
- Summer 2024 Rank: 13
- Rank Change: 6 spots lower
#15: Appleton, WI
- Fall 2024 Rank: 20
- Summer 2024 Rank: 10
- Rank Change: 10 spots lower
Metros Falling Out of the Top 20
Five metros dropped off the list between Q2 2024 and Q3, falling between 10 and 31 spots. The market with the biggest quarterly loss in ranking was Kingsport-Bristol-Bristol, TN-VA, which ranked at number seven last quarter. It now ranks at number 38.
The three southern markets listed here were replaced by Northeast and Midwest markets.
#1: Springfield, MO
- Fall 2024 Rank: 25
- Summer 2024 Rank: 15
- Rank Change: 10 spots lower
#2: Hickory-Lenoir-Morganton, NC
- Fall 2024 Rank: 27
- Summer 2024 Rank: 11
- Rank Change: 16 spots lower
#3: Portland-South Portland, ME
- Fall 2024 Rank: 29
- Summer 2024 Rank: 19
- Rank Change: 10 spots lower
#4: Roanoke, VA
- Fall 2024 Rank: 37
- Summer 2024 Rank: 16
- Rank Change: 21 spots lower
#5: Kingsport-Bristol-Bristol, TN-VA
- Fall 2024 Rank: 38
- Summer 2024 Rank: 7
- Rank Change: 31 spots lower
New Top 20 Markets for Q3 2024
Taking the place of the five markets that fell off the list, these five Northeast and Midwest markets rose in the ranking to become new top 20 markets. The biggest climber was Erie, PA, vaulting 28 spots to rank at number 14.
Milwaukee, WI—the highest-ranking newbie to the list—comes next with a 20 spot rise.
#1: Milwaukee-Waukesha-West Allis, WI
- Fall 2024 Rank: 3
- Summer 2024 Rank: 23
- Rank Change: 20 spots higher
#2: Lancaster, PA
- Fall 2024 Rank: 10
- Summer 2024 Rank: 21
- Rank Change: 11 spots higher
#3: Erie, PA
- Fall 2024 Rank: 14
- Summer 2024 Rank: 42
- Rank Change: 28 spots higher
#4: Hartford-West Hartford-East Hartford, CT
- Fall 2024 Rank: 15
- Summer 2024 Rank: 25
- Rank Change: 10 spots higher
#5: Rochester, NY
- Fall 2024 Rank: 18
- Summer 2024 Rank: 27
- Rank Change: 9 spots higher
Read the full report on Realtor.com for more information, including metro-level data and methodology.
