Even as the COVID-19 pandemic continues, so does the booming housing market.
Millennials want more space for their money and they are willing to commute to stretch their dollars, according to Realtor.com’s annual list of hottest ZIP codes in the country, released exclusively to USA TODAY.
This year’s top markets are giving homebuyers more bang for their buck in suburban areas, including Rochester, New York; Manchester and Concord, New Hampshire; Worcester, Massachusetts and Columbus, Ohio.
The only two suburbs of major metropolitan areas are Peabody, Massachusetts (near Boston) and Farmington, Michigan (near Detroit).
A few factors contributed to the growing popularity of this year’s hottest ZIP codes. They include strong job markets, a better price per square foot, easy access to metro areas. And 46% of the homebuyers are millennials, the report shows.
Homes on this year’s list are 110 square feet larger than a typical U.S. home for sale – 1,850 square feet – and each square foot is priced, on average, 3.7% lower than in surrounding metro areas.
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Demand in these markets comes from first-time homebuyers who are trying to get their foot in the door. With more flexibility created by remote jobs, new buyers have more options for where they can live and can find larger homes at a lower…