According to ATTOM Data Solutions’ newly released Q1 2021 Opportunity Zones Report, median home prices increased from Q1 2020 to Q1 2021 in 75 percent of Opportunity Zones with sufficient data to analyze.

ATTOM’s quarterly opportunity zones report analyzes qualified low-income Opportunity Zones established by Congress in the Tax Cuts and Jobs Act of 2017. For the Q1 2021 opportunity zones analysis, ATTOM looked at 4,579 zones around the U.S. with at least five home sales in Q1 2021.

The Q1 2021 report also found that median home prices rose by at least 10 percent in close to two-thirds of the zones analyzed. The reported noted those percentages roughly tracked trends in areas of the U.S. outside of Opportunity Zones, continuing patterns from Q4 2020.

Also according to the latest Opportunity Zones analysis, states with the largest percentage of zones where median prices rose annually during Q1 2021 included Arizona (median prices up, year over year, in 84 percent of zones), Idaho (83 percent), Oregon (83 percent), Nevada (82 percent) and Michigan (82 percent).

In this post, we dig deeper into the data behind the Q1 2021 Opportunity Zones report to uncover the top 50 zones that nearly doubled in median home prices annually, presenting ripe opportunities for investors.

The top 50 Opportunity Zones nearly doubling in median prices, year-over-year, ripe for investors include:

Opportunity Zone – County, State Q1 2020 Median Price Q1 2021 Median Price
45075011400 – Orangeburg County, South Carolina $68,000 $135,750
13121006300 – Fulton County, Georgia $99,000 $197,500
48215021701 – Hidalgo County, Texas $127,187 $253,530
26053950600 – Gogebic County, Michigan $27,500 $54,788
39153505700 – Summit County, Ohio $31,901 $63,500
50023955200 – Washington County, Vermont $93,000 $185,000
18039000302 – Elkhart County, Indiana $93,750 $186,400
34017010800 – Hudson County, New Jersey $242,500 $480,000
40021978100 – Cherokee County, Oklahoma $98,000 $193,500
47001021000 – Anderson County, Tennessee $76,000 $150,000
37101040301 – Johnston County, North Carolina $104,500 $206,000
51640070101 – Galax City County, Virginia $68,000 $134,000
40071001301 – Kay County, Oklahoma $33,000 $65,000
21117060900 – Kenton County, Kentucky $48,000 $94,350
06019000400 – Fresno County, California $103,250 $202,500
47093006502 – Knox County, Tennessee $110,000 $214,715
48213951200 – Henderson County, Texas $78,000 $151,875
36097950300 – Schuyler County, New York $90,060 $175,000
37163970600 – Sampson County, North Carolina $76,000 $147,500
47157002800 – Shelby County, Tennessee $36,625 $71,000
13121007807 – Fulton County, Georgia $80,000 $155,000
18157000400 – Tippecanoe County, Indiana $64,500 $124,888
40101000600 – Muskogee County, Oklahoma $58,112 $112,500
01051031300 – Elmore County, Alabama $75,000 $145,000
12086009807 – Miami-Dade County, Florida $170,000 $328,600
13095001000 – Dougherty County, Georgia $28,000 $54,000
12105011202 – Polk County, Florida $55,000 $106,000
05015950300 – Carroll County, Arkansas $84,950 $163,500
37107010100 – Lenoir County, North Carolina $65,500 $126,000
42007601300 – Beaver County, Pennsylvania $19,500 $37,500
39113002000 – Montgomery County, Ohio $30,000 $57,667
27053126000 – Hennepin County, Minnesota $182,500 $350,000
40109106912 – Oklahoma County, Oklahoma $41,000 $78,500
39139000600 – Richland County, Ohio $15,500 $29,640
12115000102 – Sarasota County, Florida $246,500 $471,350
12063210500 – Jackson County, Florida $68,000 $130,000
42101009500 – Philadelphia County, Pennsylvania $50,000 $95,500
37119004500 – Mecklenburg County, North Carolina $153,500 $292,500
04013422203 – Maricopa County, Arizona $132,500 $252,000
24041960400 – Talbot County, Maryland $173,000 $329,000
13115001600 – Floyd County, Georgia $25,000 $47,500
17031825600 – Cook County, Illinois $60,000 $114,000
26049003700 – Genesee County, Michigan $20,000 $38,000
37017950400 – Bladen County, North Carolina $89,500 $170,000
06073003303 – San Diego County, California $259,000 $490,000
53049950300 – Pacific County, Washington $108,000 $203,850
26147624000 – Saint Clair County, Michigan $32,750 $61,800
31185969700 – York County, Nebraska $85,000 $160,000
51059421800 – Fairfax County, Virginia $230,000 $432,500
05071952000 – Johnson County, Arkansas $48,500 $91,000

ATTOM’s Q1 2021 Opportunity Zones report also noted that prices in the zones analyzed continued to lag far behind the national average in Q1 2021. About 43 percent of zones with enough data still had median prices of less than $150,000; however, that was down from 50 percent in Q1 2020 as prices inside some of the nation’s poorest communities kept surging ahead with the broader market.

The report also noted that the pandemic’s impact continued in the early months of 2021, hitting hardest in lower-income communities that comprise most of the zones targeted for tax breaks designed to spur economic redevelopment. Although, housing markets inside Opportunity Zones showed no major signs of cooling off as prices there again rode along with a nationwide boom now in its 10th year.

Opportunity Zones are defined in the Tax Act legislation as census tracts in or along side low-income neighborhoods that meet various criteria for redevelopment in all 50 states, the District of Columbia and U.S. territories. Census tracts, as defined by the U.S. Census Bureau, cover areas with 1,200 to 8,000 residents, with an average of about 4,000 people.

Want to learn more about opportunity zones in your area? Contact us to find out how!

Please contact us if you have questions about the underlying data referenced in this article, or would like to have access to that data in the form of custom reports, API, Bulk File or DaaS.

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