Denver and 12 other cities are home to the top 20 most up-and-coming neighborhoods to buy a house in 2017.
A new study by personal finance website GOBankingRates revealed that the top 20 hottest neighborhoods are located on the outskirts of mid-sized cities and are situated near interstate routes, providing easy access to city centers.
GOBankingRates analyzed more than 1,700 neighborhoods throughout the U.S. to determine which locations provide the best opportunity to buy before they become too expensive. Neighborhoods were determined based on trends in home prices, the available supply of homes and how long homes remain on the market.
Top 5 Hottest Neighborhoods in the U.S.
1. Jungle Terrace: St. Petersburg, Fla.
Median list price July 2016: $165,999.50
Median list price July 2017: $239,900
Year-over-year change: 44.52 percent
Median days on market: 10
2. Beacon Hill: Seattle
Median list price July 2016: $434,500
Median list price July 2017: $569,995
Year-over-year change: 31.18 percent
Median days on market: 8
3. Point Breeze: Philadelphia
Median list price July 2016: $210,000
Median list price July 2017: $295,000
Year-over-year change: 40.48 percent
Median days on market: 31
4. Heather Gardens: Denver
Median list price July 2016: $218,950
Median list price July 2017: $278,750
Year-over-year change: 27.31 percent
Median days on market: 10
5. Pinehurst: Seattle
Median list price July 2016: $280,500
Median list price July 2017: $350,000
Year-over-year change: 24.78 percent
Median days on market: 7
Neighborhoods located near major universities including Hyde Park (University of Chicago) and Sherwood Forest (Louisiana State University) typically boost appeal due to a reputation for encouraging economic and community growth.
Multiple neighborhoods including East Atlanta (Ga.) and River Oaks (Tenn.) offer home buyers a balance in terms of cost of living and low crime rates.
Texas cities have become the epicenter of economic growth and job opportunities. Neighborhoods such as Highland Hills and Dawson offer easy commutes and lower home prices.
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