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 Housing Markets Where Home Values Could Plummet
Read More: How Middle-Class Earners Are Quietly Becoming Millionaires — and How You Can, Too
Of course, some places are better than others to buy a home if you want to gain value faster. To find out the best places to buy a house 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.
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 five years and a 3% percentage change over one year.
Here are 25 cities where you should consider buying a home to experience a jump in value.
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: 10 Dangerous Cities You Shouldn’t Buy a Home in No Matter the Price
Explore More: How To Get $340 Per Year Cash Back on Gas and Other Things You Already Buy
Trending Now: Suze Orman’s Secret to a Wealthy Retirement–Have You Made This Money Move?
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: 3 Florida Cities Where You Can Buy Homes For $100,000 or Less
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%
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%
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: Cheapest Places To Buy a Home in Every State
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%
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%
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: 10 Housing Markets That Will Plummet in Value Before the End of 2024
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%
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%
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: Barbara Corcoran: 3 Cities To Invest In Real Estate Now Before Prices Skyrocket
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%
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%
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: I’m an Economist: Here’s My Prediction for the Housing Market If Trump Wins the Election
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%
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%
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: 8 Places Where Houses Are Suddenly Major Bargains
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%
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%
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: Why Many Regret Moving to Florida Post-Pandemic
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%
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%
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: 5 Midwest Cities Where You Can Buy Luxury Homes for $100,000 or Less
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%
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 June 26, 2024.
More From GOBankingRates
Here’s How Much Cars Made in the US Cost Compared to Mexico, Canada and China
How Middle-Class Earners Are Quietly Becoming Millionaires — and How You Can, Too
4 Grocery Items To Buy Now Before Tariffs Raise Prices This Summer
4 Low-Risk Ways To Build Your Savings in 2025
This article originally appeared on GOBankingRates.com: 25 Places To Buy a Home If You Want It To Gain Value
