Coeur D’Alene, Idaho isn’t a city that leaps to mind for most people when they’re considering a move.
It’s a quiet mountain town located just east of Spokane, Wash. and the Washington/Idaho state line. Known for water sports and hiking trails, it offers a tranquil alternative to big-city life. And it’s also the country’s top emerging housing market, according to the Wall Street Journal and Realtor.com.
The Idaho burb was the No. 1 metro area in the most recent ranking. Housing prices have exploded recently, with the median sales price up 47% to $476,900 in March. That is, of course, assuming you can find a house for sale. The supply is so constricted right now that one realtor says every listing gets 30 offers.
The rush of new residents appears to be coming from bigger cities, such as Seattle and Los Angeles—people who can afford to buy a home in Coeur D’Alene for cash and still have money to take advantage of the water sports and nearby mountains. Nearly three-fourths of the online views for property listings in the city came from out of state in the first quarter, Realtor.com reports.
Traditionally, Florida, Arizona, and other Sun Belt locations lead the emerging real estate list, but as the pandemic has made people reassess urban living, new areas are capturing attention. Here’s a look at the top-ranked cities on the list:
- Coeur d’Alene, Idaho
- Austin-Round Rock, Texas
- Springfield, Ohio
- Billings, Mont.
- Spokane, Wash.
- Lafayette-West Lafayette, Ind.
- Reno, Nev.
- Concord, N.H.
- Manchester-Nashua, N.H.
- Santa Cruz-Watsonville, Calif.
Home prices in these top 10 markets have risen an average of 27% in the past year, nearly twice the national average.
Our mission to make business better is fueled by readers like you. To enjoy unlimited access to our journalism, subscribe today.