Housing Market 2024: Buy a Home in These 25 Places If You Want It To Gain Value

gorodenkoff / iStock/Getty Images

Many financial experts agree that purchasing a house is a solid investment. As you pay down your mortgage debt, you’ll gain equity in your home. Also, in general, the value of a home goes up over time.

Find Out: 7 Florida Cities That Could Be Headed for a Housing Crisis
Read More: 6 Genius Things All Wealthy People Do With Their Money

Of course, some places are better than others to buy a home if you’re looking to gain value faster. To find out the best places to buy a home in the U.S. to gain value, GOBankingRates referenced home value data from Zillow for 2019, 2023 and 2024 and the five-year and one-year percentage changes for various cities in the U.S.

For reference, the national average home value in the U.S. for 2019 was $228,565. In 2023 it was $333,206, and in January 2024 it was $343,951. That equals a 50% percentage change in home value over a five-year period and a 3% percentage change over a one-year period.

Here are 25 cities where you should consider buying a home to experience a jump in value.

DenisTangneyJr / Getty Images

Atlantic City, New Jersey

• January 2019 Home Value: $108,092

• January 2023 Home Value: $188,703

• January 2024 Home Value: $218,761

• 5 Year % Change: 102%

• 1 Year % Change: 16%

Check Out: Housing Market 2024: Avoid Buying a Home in These 10 Florida Cities
Explore More: I’m a Real Estate Agent — 7 House Features That Buyers Always Overpay For

Sponsored: Protect Your Wealth With A Gold IRA. Take advantage of the timeless appeal of gold in a Gold IRA recommended by Sean Hannity.

Daniel Case / Wikimedia Commons

Waterbury, Connecticut

• January 2019 Home Value: $124,467

• January 2023 Home Value: $217,365

• January 2024 Home Value: $249,073

• 5 Year % Change: 100%

• 1 Year % Change: 15%

Learn More: The Most Expensive City in Every State

DenisTangneyJr / Getty Images/iStockphoto

Lewiston, Maine

• January 2019 Home Value: $143,963

• January 2023 Home Value: $242,023

• January 2024 Home Value: $274,687

• 5 Year % Change: 91%

• 1 Year % Change: 14%

leekris / Getty Images/iStockphoto

Mercedes, Texas

• January 2019 Home Value: $64,507

• January 2023 Home Value: $109,088

• January 2024 Home Value: $123,572

• 5 Year % Change: 92%

• 1 Year % Change: 13%

Alexander Farnsworth / Getty Images

Torrington, Connecticut

• January 2019 Home Value: $141,705

• January 2023 Home Value: $224,068

• January 2024 Home Value: $255,834

• 5 Year % Change: 81%

• 1 Year % Change: 14%

Read Next: Grant Cardone: 7 Best Florida Cities To Buy Real Estate (and 1 To Avoid)

DenisTangneyJr / Getty Images/iStockphoto

Irvington, New Jersey

• January 2019 Home Value: $178,726

• January 2023 Home Value: $326,852

• January 2024 Home Value: $359,441

• 5 Year % Change: 101%

• 1 Year % Change: 10%

DenisTangneyJr / Getty Images/iStockphoto

Elizabeth, New Jersey

• January 2019 Home Value: $284,994

• January 2023 Home Value: $434,543

• January 2024 Home Value: $498,548

• 5 Year % Change: 75%

• 1 Year % Change: 15%

Kruck20 / Getty Images/iStockphoto

Knoxville, Tennessee

• January 2019 Home Value: $182,043

• January 2023 Home Value: $304,065

• January 2024 Home Value: $341,351

• 5 Year % Change: 88%

• 1 Year % Change: 12%

Check Out: 5 Types of Homes That Will Plummet in Value in 2024

peeterv / Getty Images/iStockphoto

Camden, New Jersey

• January 2019 Home Value: $62,559

• January 2023 Home Value: $103,036

• January 2024 Home Value: $115,800

• 5 Year % Change: 85%

• 1 Year % Change: 12%

Real Window Creative / Shutterstock.com

Trenton, New Jersey

• January 2019 Home Value: $166,747

• January 2023 Home Value: $273,347

• January 2024 Home Value: $307,421

• 5 Year % Change: 84%

• 1 Year % Change: 12%

AndreyKrav / Getty Images/iStockphoto

Oakridge, Tennessee

• January 2019 Home Value: $148,905

• January 2023 Home Value: $257,614

• January 2024 Home Value: $285,447

• 5 Year % Change: 92%

• 1 Year % Change: 11%

Discover More: I’m a Real Estate Agent: 5 Cities Where Homes Will Be the Best Bargains in 2024

Davel5957 / Getty Images/iStockphoto

East Orange, New Jersey

• January 2019 Home Value: $223,560

• January 2023 Home Value: $384,067

• January 2024 Home Value: $425,011

• 5 Year % Change: 90%

• 1 Year % Change: 11%

Sean Pavone / iStock.com

Golden Glades, Florida

• January 2019 Home Value: $264,418

• January 2023 Home Value: $441,474

• January 2024 Home Value: $490,839

• 5 Year % Change: 86%

• 1 Year % Change: 11%

ChrisBoswell / Getty Images/iStockphoto

Willingboro Township, New Jersey

• January 2019 Home Value: $158,060

• January 2023 Home Value: $276,797

• January 2024 Home Value: $303,989

• 5 Year % Change: 92%

• 1 Year % Change: 10%

Find Out: 25 Safest and Cheapest Cities To Live in the South

Wirestock / iStock.com

West Little River, Florida

• January 2019 Home Value: $218,465

• January 2023 Home Value: $359,801

• January 2024 Home Value: $401,228

• 5 Year % Change: 84%

• 1 Year % Change: 12%

Apc106 / Wikimedia Commons

Lakewood, New Jersey

• January 2019 Home Value: $402,932

• January 2023 Home Value: $624,975

• January 2024 Home Value: $706,816

• 5 Year % Change: 75%

• 1 Year % Change: 13%

DenisTangneyJr / Getty Images/iStockphoto

Donna, Texas

• January 2019 Home Value: $71,440

• January 2023 Home Value: $118,083

• January 2024 Home Value: $131,471

• 5 Year % Change: 84%

• 1 Year % Change: 11%

Read More: Housing Market 2024: Zillow Predicts 5 Hottest Home Trends That Homebuyers Will Be Looking For

DenisTangneyJr / Getty Images/iStockphoto

Wilkes-Barre, Pennsylvania

• January 2019 Home Value: $73,804

• January 2023 Home Value: $125,195

• January 2024 Home Value: $137,986

• 5 Year % Change: 87%

• 1 Year % Change: 10%

Boogich / iStock.com

Forest Park, Georgia

• January 2019 Home Value: $82,985

• January 2023 Home Value: $169,505

• January 2024 Home Value: $177,414

• 5 Year % Change: 114%

• 1 Year % Change: 5%

epantha / Getty Images/iStockphoto

Clinton, Tennessee

• January 2019 Home Value: $158,185

• January 2023 Home Value: $258,807

• January 2024 Home Value: $287,509

• 5 Year % Change: 82%

• 1 Year % Change: 11%

Explore More: These 5 Cities Are Becoming Popular With Baby Boomers: Should You Consider Them for Your Retirement Years?

Torresigner / Getty Images

Miami Gardens, Florida

• January 2019 Home Value: $248,275

• January 2023 Home Value: $405,043

• January 2024 Home Value: $449,676

• 5 Year % Change: 81%

• 1 Year % Change: 11%

Richard Cavalleri / Shutterstock.com

North Miami, Florida

• January 2019 Home Value: $257,269

• January 2023 Home Value: $428,425

• January 2024 Home Value: $473,109

• 5 Year % Change: 84%

• 1 Year % Change: 10%

DenisTangneyJr / Getty Images/iStockphoto

Linden, New Jersey

• January 2019 Home Value: $290,185

• January 2023 Home Value: $442,133

• January 2024 Home Value: $497,627

• 5 Year % Change: 71%

• 1 Year % Change: 13%

Learn More: 10 Things Frugal People Always Do When They First Buy a House

jodylehigh / Pixabay

Lehigh Acres, Florida

• January 2019 Home Value: $164,688

• January 2023 Home Value: $287,611

• January 2024 Home Value: $312,991

• 5 Year % Change: 90%

• 1 Year % Change: 9%

Nolichuckyjake / Shutterstock.com

Elizabethton, Tennessee

• January 2019 Home Value: $117,162

• January 2023 Home Value: $181,674

• January 2024 Home Value: $203,565

• 5 Year % Change: 74%

• 1 Year % Change: 12%

Photo Disclaimer: Please note photos are for representational purposes only and may not be of the exact location mentioned.

Methodology: For cities, we looked at the 2,500 largest housing markets according to Zillow that also had a 1-year and 5-year percent change in home value above the national average. Then the 1-year and 5-year percent changes in home values were scored and combined with the lowest score being best. Zillow’s January 2024 data and all data were collected and are up to date as of Feb. 19, 2024.

More From GOBankingRates

• I'm a Shopping Expert: 9 Items I'd Never Put in My Grocery Cart

• 5 Used Cars You Shouldn't Buy

• Avoid This Simple Banking Mistake That Could Cost You Over $1,000

• 6 Things You Should Never Do With Your Tax Refund (Do This Instead)

This article originally appeared on GOBankingRates.com: Housing Market 2024: Buy a Home in These 25 Places If You Want It To Gain Value