5-year forecast: Housing markets expected to see the biggest climb

Medford, Ore., and Madera-Chowchilla, Calif., top the list of housing markets expected to see the most growth over the next five years. Business Insider compiled the list using data from Fiserv Case-Shiller, ranking the markets based on the projected annualized change in home prices between the fourth quarter of 2011 and 2016.

The 15 markets are concentrated in five states, with Florida (six) and California (four) holding the most. Oregon sports three, while Arizona and New Mexico each have one.

The top 15, along with projected annual growth in home prices, are as follows:

1. Medford, Ore. (11.5 percent)
2. Madera-Chowchilla, Calif. (10.3 percent)
3. Napa, Calif. (9.7 percent)
4. Lakeland-Winter Haven, Fla. (9.2 percent)
5. Ocala, Fla. (9.1 percent)
6. Deltona-Daytona Beach-Ormond Beach, Fla. (8.8 percent)
7. Bend, Ore. (8.8 percent)
8. Tucson, Ariz. (8.2 percent)
9. Sebastian-Vero Beach, Fla. (8.1 percent)
10. Eugene-Springfield, Ore. (7.9 percent)
11. Panama City-Lynn Haven-Panama City Beach, Fla. (7.6 percent)
12. Santa Fe, N.M. (7.6 percent)
13. Modesto, Calif. (7.5 percent)
14. Port St. Lucie, Fla. (7.5 percent)
15. Santa Barbara-Santa Maria-Goleta, Calif. (7.4 percent)

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