Opportunity Zones See Strong Home Price Growth

Home prices have increased across the U.S. housing market, and in Opportunity Zones—low-income areas targeted for economic redevelopment—this trend can also be observed. A recent report from real estate data tracker ATTOM shows from Q1 to Q2 2024, home and condo prices increased in 61% of Opportunity Zones. Annually, they were up in 62% of the zones analyzed in the report. While prices in these areas continue to increase, most Opportunity Zones still have homes priced far below the national median of $365,000. In fact, nearly half of the zones analyzed in the report have median prices under $200,000.

“The trickle-down impact of the extended housing market boom across the U.S. continues to uplift many neighborhoods in need, revealing their economic potential,” said Rob Barber, CEO of ATTOM. “This pattern is especially evident in Opportunity Zones as house hunters priced out of more-expensive areas turn to places they can afford.  While gains inside these zones vary, many are experiencing price increases, demonstrating the momentum necessary to attract the investments that the Opportunity Zone model is designed to generate.”

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