Realtors Predict These 10 Cities Will See Home Prices Double by 2030

The housing market can feel out of control, especially in some cities. Even with rising interest rates tamping down demand, several cities are still seeing rising home prices. In fact, real estate agents predict that prices will possibly double in some cities by 2030.

Explore where home prices could double below to prepare yourself financially if you plan to buy a home soon.

Editor's note: All housing data comes from Zillow, unless otherwise stated.

Detroit, Michigan

Average home price: $77,245

After many years of neglect in certain areas, Detroit is truly seeing a resurgence. And with the rebirth of the city, home prices are skyrocketing.

"Prices are on a steady climb and have been climbing for the last decade," says Ryann Brier, Realtor with City Lights Home Buyers. "Even if prices doubled, it'd put Detroit's home values around $200,000, still leaving this as one of the cheapest metros in the entire country."

Syracuse, New York

Average home price: $225,918

Syracuse recently saw a major increase in expected employment for the area in the form of a multi-billion-dollar chipmaking factory. This boon in the job market is likely to lead to a surge of people moving to the area for work, and competing for housing. Skyrocketing demand will likely push home prices up quickly here.

"Around 3,000 construction trades on site each day, and tens of thousands of jobs projected in the entire state due to construction," says Brier.

Newark, New Jersey

Average home price: $486,845

Neighboring New York City, Newark has always seen people seeking more affordable homes come from the city. But with prices continuing to grow in NYC, more and more home buyers are making the trek to Newark.

"I would call it a sleeper market, but there have been a few articles about this recently," says Brier.

Boise, Idaho

Average home price: $508,258

Boise has remained a hot market since the early days of the pandemic. With remote work more common, many West Coast buyers are seeking out this "affordable" option that offers their family more space.

"With a median home price around $525,000, roughly 3 months of supply, add in the fact that West Coast buyers keep buying properties with cash, and homes in desirable areas are pending in under 10 days, all factor into keeping this a tight market," says Brier.

Reno, Nevada

Average home price: $576,913

With no state income tax and relatively affordable housing options, buyers started flocking to the area in recent years.

"Reno is stuck in a boxed-in valley with nowhere new to build, giving buyers fewer options when looking for housing," says Brier. "That competition, coupled with no income tax, keeps buyers driving prices upwards due to the advantages of living there."

Keystone, Colorado

Average home price: $984,774

"While some may argue that a higher-priced market, with fewer total units available than other Summit County communities, limits the likelihood of appreciating values significantly, I believe Keystone offers many factors that contribute to buyer demand and ultimately drive price increases, says Natalia Bassova, real estate broker and owner at Resort Real Estate Inc.

Some of those attractive features, including ski access and year-round mountain recreation opportunities, may continue to push property values higher in Keystone.

Dillon, Colorado

Average home price: $838,109

Dillon is another mountain town with plenty of room for prices to climb, especially as more people begin to discover this area.

"The town of Dillon has a central location, is accessible via roadways to surrounding resorts, and has strong demand for both primary residences and rentals, all of which could continue to drive future appreciation," says Bassova.

Huntsville, Alabama

Average home price: $292,728

Although Huntsville is a relatively affordable place to live right now, that could change in the coming years. With a strong economy, largely centered around the aerospace industry, the area has seen significant job growth in recent years.

"Quick-growth Aerospace/Defense sectors are increasing housing demand among highly compensated workers," says Thomas O'Shaughnessy, the Vice President of Marketing at Clever Real Estate.

It's possible the influx of highly-paid residents could drive up housing prices.

Raleigh, North Carolina

Average home price: $436,056

Firmly in the Research Triangle, Raleigh could see rising home prices.

"Research Triangle increases tech/biotech jobs much faster than housing stock and is still cheaper than other tech-hub locations," says O'Shaughnessy.

Chattanooga, Tennessee

Average home price: $324,364

In recent years, Chattanooga has become a more popular spot. Both remote workers and retirees have begun flocking to the area. With a reviving downtown and ample access to amenities, more newcomers are expected to move in soon.

But the area "has done very little construction," according to O'Shaughnessy. With not enough housing supply for the incoming crowd, it's likely home prices here will climb quickly.

Bottom line

If you've been eyeing a home purchase in one of these cities, the possibility of rising prices is definitely something to watch. But avoid rushing into anything because it's likely not a good idea to jump into a home purchase until your finances are ready for that large of a commitment.

Need to save a bigger down payment quickly? Consider finding ways to make extra money to put toward your goal.

This article is for informational purposes only and should not be considered investment advice.

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