Melrose Was Named One of the Nation’s Hottest Zip Codes
Millennials continuously losing in bidding wars for overpriced homes around Boston will be pleased to find that the one of the hottest zip codes in the nation has been under their noses the whole time. Incorporated in 1900, the city of Melrose is the newest, hippest place to live.
Specifically, it’s the seventh hottest neighborhood in the country, according to a new report from Realtor.com. Analysts looked at factors like pricing, the job market, and sale windows to draw up a list of the nation’s top 10 towns.
“Homes for sale in this year’s hottest zip codes are selling almost as quickly as they hit the market,” says Jonathan Smoke, chief economist for Realtor.com. “While millennials are usually a significant presence in most markets, their sheer size and buying power have made them a force to be reckoned with in these hot zip codes.”
Melrose beat out Crestwood, Missouri and Milwaukie, Oregon, but was no match for the truly hottest zip code in the country: Watauga, Texas. Melrose lost its crown from last year—it was ranked the hottest zip code of 2015 by Realtor.com. The report explains that “supply began to catch up with demand” for Melrose, meaning Boston’s yuppies flocking north have eased up a bit. Still, its median list price of $462,000 is 10 percent lower than Middlesex County overall. (This renovated farmhouse for sale hovers above the median list price.)
The report bumps Melrose’s accessibility with commuter rail lines, buses, and the nearby Orange Line, as well as the town’s proximity to Cambridge. Plus, there are plenty of hilly trails to be hiked at the Middlesex Fells Reservation.
Congrats, Melrose, and never change.