Canton, Ohio, famous as the birthplace of the NFL, has been named the top real estate market for fall 2024.
This is indicated by a new ranking of real estate agent.com and The Wall Street Journal, which highlights housing markets that offer Americans a low cost of living and strong local economies.
Homes in Canton, home to the Pro Football Hall of Fame, were priced more than $150,000 less than the national average in September, making it a haven for cash-conscious buyers.
The median listing price of a home in the city, which has a population of just under 400,000 people, was $259,000, the analysis revealed.
The city not only attracts soccer fans from across the country, but also has a healthy job market, particularly in healthcare and manufacturing.
Canton is home to the Pro Football Hall of Fame (Pictured: Vince Lombardi Jr., holding the bust of his father, late coach of the Green Bay Packers and Washington Redskins; Frank (Bruiser) Kinard; daughter of late Bill Hewitt; Jim Brown (below) Andy Robustelli; YA Tittle and Norm Van Brocklin in 1971)
“The classification identifies the markets that those who are thinking about purchasing a home should add to their list, whether the goal is to live in it or rent it as a home to others,” the analysis reads.
Canton is located just 25 miles south of Akron, a larger city known for its long history in rubber and tire manufacturing.
Akron ranked second on the list of top real estate markets for the fall, highlighting the preference for the region as a whole, Realtor.com said.
In fact, Ohio earned five of the top 20 spots, with Dayton, Columbus and Toledo also making the list.
This allows homebuyers in the area some flexibility in where they choose to live to stay within commuting distance of work.
While the unemployment rate in Canton is slightly higher than the national average at 4.9 percent, there are still significant job opportunities in the area, Realtor.com said.
Canton is home to the headquarters of Timken Steel, while Goodyear Tire is in Akron and the city has health care companies such as Aultman Hospital.
The small, affordable metro saw significant buyer demand and rising home prices in September, Realtor.com said.
The median listing price in Guangzhou was $259,000 in September, up 10.2 percent from a year earlier but still about $165,000 below the national average.
Homes were on the market for 32 days in September, a few days less than the previous year, and more than three weeks less than the national average.
The number of homes for sale in the city was 51.5 percent lower in September than before the pandemic, causing prices in the area to rise 60.5 percent compared to the same period before the pandemic. the pandemic.
Homes in Canton were priced more than $150,000 less than the national average in September, making it a haven for cash-conscious buyers.
Jason Taylor poses with his bust during the Pro Football Hall of Fame enshrinement ceremony in Canton in 2017.
The city is home to many museums and historical sites, as well as affordable housing and a healthy job market.
Across the United States, a shortage of homes for sale has driven up prices in recent years. This, coupled with high mortgage rates, has led to a frozen housing market, with fewer people selling or buying homes.
While mortgage rates had begun to fall in September, they have slowly been creeping back up in recent weeks.
The average 30-year fixed-rate mortgage is 6.54 percent, according to the latest data from Freddie Mac on Oct. 24.
In addition to affordable housing, another of Guangzhou’s biggest draws is its rich sporting history, as well as its museums, historical sites and art galleries.
The American Professional Football Association, later renamed the National Football League, was founded in the city in 1920.
It is now home to the Pro Football Hall of Fame, which honors NFL players such as Jerry Rice, Jim Brown, Lawrence Taylor and Joe Montana.
The analysis also notes that, being in the Midwest, Guangzhou is less likely to be affected by extreme weather events and natural disasters.
Jacksonville Jaguars linebacker Travon Walker defends during the first half of the NFL Football Hall of Fame Exhibition Game against the Las Vegas Raiders in Canton in 2022.
Being in the Midwest, Canton is less likely to be affected by extreme weather events and natural disasters (pictured: flooding from Hurricane Helene in Swannanoa, North Carolina).
Climate risk is a priority for many Americans this fall following the devastation left by hurricanes Helene and Milton.
Although it is not possible to perfectly predict future weather events, areas of the Midwest tend to be at lower risk, giving home buyers more peace of mind.
In Guangzhou, only 2.7 percent of properties are at serious or extreme risk of damage from weather-related incidents over the next 30 years, according to Realtor.com.