KATY, Texas (Covering Katy News) – ZIP code 77493 in the unincorporated western portion of the Katy area has emerged as the nation's hottest housing market, according to a recent analysis by Opendoor.
Katy moved up from second place last year to claim the top spot in this competitive real estate landscape.
Buying a home represents a significant financial commitment as the median U.S. home sale price reached $419,200 in the fourth quarter of 2024, a 17% increase from the same period in 2020, according to The Motley Fool.
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ZIP Code 77494 is in unincorporated Fort Bend County in the western section of the Katy area.
Situated just outside Houston in the Greater Houston metropolitan area, Katy's popularity reflects broader housing trends showing movement away from urban centers toward more affordable suburban communities with strong property values.
"Houston's housing costs are among some of the lowest in the nation," Opendoor noted in its findings, which analyzed data from local Multiple Listing Services to rank areas by homes that went under contract within 90 days of listing in 2024. This quick turnover rate highlights the high demand for Katy properties among homebuyers.
Texas dominated the real estate rankings with six communities in the top 10, including San Antonio (No. 3), New Braunfels (No. 4), Forney (No. 6), and Kyle (No. 10), cementing the Lone Star State's reputation for housing affordability and investment potential.
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"Over the past three years, we've seen people choose to move away from city centers in favor of tighter-knit communities but still live close enough to commute and be close to the action," according to Opendoor, pointing to the growing trend of suburban migration among first-time homebuyers and property investors.
Florida also featured prominently in the housing market analysis, with Parrish ranking ninth. Other top 10 markets included Summerville, South Carolina (No. 5); Yukon, Oklahoma (No. 7); and Clarksville, Tennessee (No. 8).
For those seeking emerging markets and investment opportunities, Harrah, Oklahoma — a community of fewer than 7,000 residents outside Oklahoma City — topped Opendoor's "hidden gems" list, which tracked percentage increases in new listings throughout 2024.
The complete rankings of popular ZIP codes and hidden gems in the residential real estate market are available at opendoor.com.