According to ATTOM’s newly released Q1 2024 Opportunity Zones Report, median single-family home and condo prices rose from Q4 2023 to Q1 2024 in just 49 percent of Opportunity Zones around the country. However, they still saw annual increases in nearly two-thirds of the Opportunity Zones where sufficient data was available.
ATTOM’s latest opportunity zones report noted that these trends in and around low-income neighborhoods, where the federal government provides tax incentives to stimulate economic growth, have maintained a long-term pattern over the past three years. Home values within Opportunity Zones have consistently moved in line with broader national shifts during this period.
The ATTOM analysis found that by one key measure, Opportunity Zones’ price trends demonstrated signs of outperforming the national average in the early months of 2024. For instance, more than half of Opportunity Zones experienced changes in typical home values that surpassed nationwide price movements on both a quarterly and annual basis.
The report stated that among the 3,512 zones included in the report, 1,197 (34 percent) had median prices below $150,000 in the first quarter of 2024, down from 38 percent a year earlier. Additionally, 558 zones (16 percent) had median prices ranging from $150,000 to $199,999 in the first quarter of this year.
ATTOM’s most recent opportunity zones analysis also found that in the first quarter of 2024, median values ranged from $200,000 to $299,999 in 797 Opportunity Zones (23 percent), while only 776 zones (22 percent) had median values exceeding the nationwide first-quarter median of $330,000.
In this post, we dig deep into the data behind our latest opportunity zones report to uncover the top 10 Opportunity Zones with the highest median home prices in Q1 2024.
Those zones include: Opportunity Zone 36061002201 in New York County, NY ($1,780,546 Median Sales Price); Opportunity Zone 15007040104 in Kauai County, HI ($1,563,727 Median Sales Price); Opportunity Zone 15001021504 in Hawaii County, HI ($1,396,501 Median Sales Price); Opportunity Zone 06001441923 in Alameda County, CA ($1,375,000 Median Sales Price); Opportunity Zone 06059063605 in Orange County, CA ($1,350,000 Median Sales Price); Opportunity Zone 15007040604 in Kauai County, HI ($1,241,289 Median Sales Price); Opportunity Zone 36047054700 in Kings County, NY ($1,210,000 Median Sales Price); Opportunity Zone 06037211802 in Los Angeles County, CA ($1,186,000 Median Sales Price); Opportunity Zone 12086002201 in Miami-Dade County, FL ($1,175,000 Median Sales Price); and Opportunity Zone 06075026100 in San Francisco County, CA ($1,158,000 Median Sales Price).
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