Our "hottest neighborhoods" are unexpected
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The village of Unionville Center is too small for a stoplight, but its ZIP code recorded our region's highest jump in typical home values compared to a year ago, per Zillow data shared with Axios.
Why it matters: Fewer homes on the market kept prices growing in most areas, even as affordability dwindled, according to Zillow chief economist Skylar Olsen.
State of play: Typical home values rose annually in nearly all major U.S. metros, including Columbus, Olsen found.
- The other ZIP codes in our region's top five are also in rural areas, including one in the village of Etna off of I-70.
Reality check: Zillow's analysis includes some of these smaller rural ZIP codes, where there tend to be fewer, and less expensive, houses.
- "In a small ZIP code, a few houses selling for higher prices may make the entire ZIP look like prices are appreciating quickly," Zillow data scientist Anushna Prakash says.
Between the lines: Growth varies locally because of factors like job opportunities, development and population trends, which impact supply and demand.