According to ATTOM’s just released Q3 2022 Opportunity Zones Report, median single-family home and condo prices rose from Q2 2022 to Q3 2022 in 51 percent of Opportunity Zones around the country and went up at least 3 percent in almost half.
ATTOM’s latest opportunity zones analysis looked at 4,732 zones, targeted by Congress for economic redevelopment in the Tax Cuts and Jobs Act of 2017, around the U.S. with sufficient data to analyze, meaning they had at least five home sales in Q3 2022.
The report found that the gains in Q3 2022 fell below those recorded in earlier time periods over the past year, but still stood out amid a broader national market that saw a 3 percent decrease in the median single-family home price, after a decade of almost uninterrupted gains.
The Q3 2022 opportunity zones report noted that typical home values in Opportunity Zones did still remain lower than those in most other neighborhoods around the nation in Q3 2022. According to the report, median third-quarter prices fell below the nationwide median of $339,815 in 79 percent of zones analyzed – about the same portion as in earlier periods over the past year. The report also noted that median prices remained below $200,000 in 50 percent of the zones analyzed during Q3 2022, down from 56 percent in Q3 2021.
ATTOM’s latest report found that of the 4,732 zones in the report, 33 percent still had median prices in Q3 2022 that were less than $150,000, down from 38 percent of those zones a year earlier. According to the report, another 16 percent had medians ranging from $150,000 to $199,999.
From a regional perspective, the report noted the Midwest continued in Q3 2022 to have the largest portion of the lowest-priced Opportunity Zone tracts, with median home prices less than $175,000 in 66 percent of zones analyzed, followed by the South (45 percent), the Northeast (44 percent) and the West (6 percent).
In this post, we dive into the data behind ATTOM’s Q3 2022 Opportunity Zones Report to reveal the top 10 Opportunity Zones with the lowest median home prices across each region:
Midwest
- 26049002200 – Genesee County, MI – $11,500
- 17143005000 – Peoria County, IL – $16,988
- 17143000300 – Peoria County, IL – $18,222
- 26049000500 – Genesee County, MI – $19,000
- 39145003500 – Scioto County, OH – $22,025
- 17115000200 – Macon County, IL – $22,500
- 17121952700 – Marion County, IL – $23,232
- 29510106100 – Saint Louis City County, MO – $23,350
- 39095001500 – Lucas County, OH – $23,500
- 17115000300 – Macon County, IL – $24,000
South
- 01047956500 – Dallas County, AL – $8,000
- 45005970200 – Allendale County, SC – $14,000
- 01073000700 – Jefferson County, AL – $20,000
- 22033000900 – East Baton Rouge County, LA – $20,718
- 01097003402 – Mobile County, AL – $22,250
- 13095000800 – Dougherty County, GA – $22,260
- 01073000800 – Jefferson County, AL – $22,500
- 13163960400 – Jefferson County, GA – $22,500
- 13215003200 – Muscogee County, GA – $24,000
- 13021012900 – Bibb County, GA – $25,468
Northeast
- 42021013400 – Cambria County, PA – $12,000
- 42085033200 – Mercer County, PA – $15,000
- 36067005400 – Onondaga County, NY – $20,000
- 42045410700 – Delaware County, PA – $20,000
- 42125783200 – Washington County, PA – $25,000
- 42003130600 – Allegheny County, PA – $26,500
- 42073000400 – Lawrence County, PA – $26,500
- 42073000900 – Lawrence County, PA – $26,500
- 42097081500 – Northumberland County, PA – $29,520
- 42003202200 – Allegheny County, PA – $32,500
West
- 32003002603 – Clark County, NV – $31,617
- 04007000900 – Gila County, AZ – $39,078
- 35037958601 – Quay County, NM – $59,981
- 04012020100 – La Paz County, AZ – $68,022
- 08011966700 – Bent County, CO – $74,171
- 08101001400 – Pueblo County, CO – $80,000
- 35005001300 – Chaves County, NM – $85,980
- 04025002100 – Yavapai County, AZ – $92,500
- 08099000200 – Prowers County, CO – $100,000
- 35013001705 – Dona Ana County, NM – $100,944
Want to learn more about opportunity zones in your area? Contact us to find out how!
