Posted 02/02/2018

The country’s hottest neighborhoods you can actually afford

hottest neighborhoods

Aly J. Yale

The Mortgage Reports Contributor

High demand without a high price tag

If you’re looking to live in an up-and-coming area but can’t afford the price tag that typically comes with one, you may want to consider D.C.’s Hillcrest community. According to Redfin, it’s one of 2018’s “hottest neighborhoods within reach.”

Verify your new rate (May 23rd, 2018)

America’s hottest, most affordable neighborhood

Redfin recently ranked the nation’s hottest affordable neighborhoods by weighing home prices, page views on its site, properties favorited by Redfin users, and the input of Redfin real estate agents across the country. Prices were capped at $286,700 for this list (the nation’s median sale price for last month.)

Are home prices finally dropping? They just might be

Coming in at No. 1. was Hillcrest – an up-and-coming part of Washington, D.C. According to agent Will Hirzy, the neighborhood is in high demand – and for good reason.

“Hillcrest is one of the only neighborhoods in the city that offers single-family homes on decent-sized lots for an affordable price,” Hirzy said. “Buyers are drawn to this leafy, residential corner of the city because it’s affordable, while still convenient to Capitol Hill, Navy Yard and downtown.”

Median home prices in Hillcrest were just $125,000 in December and only 25 percent of homes sold above their listing price in that time frame.

Verify your new rate (May 23rd, 2018)

More top spots to buy

D.C. also claimed the No. 2 spot with nearby Deanwood taking the win. Seattle’s Riverview came in at No. 3, while Columbus, Ohio’s Misty Meadows and Providence, Rhode Island’s Fairmount rounded out the top five.

Seeking safety: The nation’s safest places to buy a home

According to Nela Richardson, Redfin’s chief economist, the top neighborhoods ran the gamut in terms of market characteristics.

“The ‘Hottest Neighborhoods Within Reach’ list has places chock-full of amenities and diverse housing types,” Richardson said. “Features like easy commutes, farmers markets and proximity to parks or the beach all represent livability characteristics that many people value when searching for homes. Also, these areas have a mix of single family homes, condos and townhouses, which make the neighborhoods accessible to a wide range of incomes.”

Get today’s mortgage rates

Want to get in on any of these hot, yet affordable neighborhoods? Shop around and see what mortgage rates you qualify for today.

Verify your new rate (May 23rd, 2018)

Aly J. Yale

The Mortgage Reports Contributor

Aly J. Yale is a mortgage and real estate writer based in Houston. Connect with her at AlyJYale.com or on Twitter

The information contained on The Mortgage Reports website is for informational purposes only and is not an advertisement for products offered by Full Beaker. The views and opinions expressed herein are those of the author and do not reflect the policy or position of Full Beaker, its officers, parent, or affiliates.

3 Testimonials

Barry L. Systems Analyst

The Mortgage Reports is an excellent resource. I depend on the Mortgage Reports for the most up-to-date information regarding shifts in government policy and mortgage rate information in general.

Joan H.

The Mortgage Reports is doing the BEST mortgage reporting of anyone out there!

Theresa D. President, Title Services

The Mortgage Reports gives me an overview of what's happening with mortgages both locally and nationally. I really enjoy it.

2018 Conforming, FHA, & VA Loan Limits

Mortgage loan limits for every U.S. county, as published by Fannie Mae & Freddie Mac, the Federal Housing Administration (FHA), and the Department of Veterans Affairs (VA)