The Zillow Home Value Index shows an intriguing shift in numerous housing markets across the United States from June 30, 2009, to October 31, 2024. In the wake of the 2008 financial crisis, which saw home values decline sharply, several cities and towns saw a remarkable surge in their housing markets.
Coastal tech cities like San Jose recorded the most significant overall dollar increases in home values. However, smaller cities, especially in California’s Central Valley, Florida, and burgeoning Mountain West areas, achieved the highest percentage growth. The analysis highlights 25 areas that experienced the most substantial percentage rises in home values over the fifteen years, ranging from a moderate 171% up to an impressive 260%. These places embody a diverse range of American communities—from pastoral towns to urban tech centers, from mountain retreats to suburban neighborhoods, each with its own narrative of recovery and advancement.
#25. Shelbyville, TN
In 2009, Shelbyville, Tennessee had an average home price of $115,290, a figure that mirrored the tough economic landscape many American communities faced at the time. The housing market here, like countless others, was beginning to recover from the upheaval of 2008.
By 2024, Shelbyville’s housing market had remarkably evolved. Home values surged to $313,505, marking a 171.93% rise over the fifteen years. This reflects an increase of $198,214 in absolute dollar terms, indicating significant wealth generation for homeowners during this timeframe. This achievement has positioned Shelbyville among the top 25 cities nationwide for home value growth following the financial crisis.
#24. Ontario, OR
In 2009, Ontario, Oregon’s average home value was at $124,852, reflecting the affordable housing options that characterized this eastern Oregon city during the post-financial crisis era. This affordable price point enabled many residents to achieve homeownership amid economic uncertainty.
By 2024, Ontario’s housing market exhibited robust growth, with average home values soaring to $339,834. This marks a 172.19% increase from 2009 values, equating to an absolute dollar elevation of $214,982 for homeowners. This substantial appreciation transformed the financial landscape for many who retained their properties throughout this growth phase.
#23. Miami, FL
In 2009, Miami, Florida, had an average home value of $178,205, underscoring the significant effect of the financial crisis on this major urban market. This figure was a marked decline from the highs seen before the crisis, as Miami was a pivotal location in the housing bubble collapse in the late 2000s.
In 2024, Miami’s housing market bounced back dramatically, with average home values reaching $487,015. This represents a 173.29% increase since the crisis, leading to an absolute dollar increase of $308,810. This remarkable recovery illustrates Miami’s lasting attraction as a key international hub and its strong appeal to both domestic and foreign investors.
#22. Bozeman, MT
In 2009, Bozeman, Montana’s average home value was $256,917, a relatively high figure for that era, indicating the city’s appeal even amidst economic challenges. This mountain town was already signaling its potential as a growing tech hub and outdoor destination.
By 2024, Bozeman’s average home values skyrocketed to $704,495, representing a 174.21% increase. The absolute dollar growth of $447,578 showcases Bozeman’s evolution into a top Mountain West locale, drawing remote workers, tech firms, and outdoor enthusiasts, contributing to a vigorous real estate market.
#21. Huntsville, AL
In 2009, Huntsville, Alabama had an average home price of $108,879, representing the affordable market typical of many southern cities at that time. This price point facilitated homeownership for many in this aerospace and tech-centric community.
By 2024, Huntsville’s housing market experienced significant strides, with average home values reaching $299,810. This signifies a 175.36% increase, translating to an absolute dollar gain of $190,930. The growth mirrors Huntsville’s expanding role as a tech and research hub, which has attracted high-paying jobs and new residents.
#20. Greeley, CO
In 2009, Greeley, Colorado’s average home value was $178,825, reflective of its status as a developing community along Colorado’s Front Range during the post-crisis phase. Even with the national downturn, Greeley maintained comparatively stable housing prices.
As of 2024, Greeley’s home values have surged to $497,044, a rise of 177.95%. The absolute dollar increase of $318,219 illustrates the city’s successful economic diversification and its ability to attract residents looking for more economical living options compared to the Denver metropolitan area.
#19. Mount Vernon, OH
In 2009, Mount Vernon, Ohio had an average home value of $95,394, typical of many Midwestern areas in the post-financial crisis era. This price point reflected the affordable housing available in smaller Ohio cities at the time.
By 2024, Mount Vernon saw its housing market flourish, with average home values rising to $265,688. This represents a 178.52% increase, translating to an absolute dollar increase of $170,294. This growth underscores the growing attractiveness of smaller, well-connected communities post-pandemic.
#18. Steamboat Springs, CO
In 2009, the average home value in Steamboat Springs, Colorado, was $390,247, affirming its status as a premium mountain resort town even during the post-crisis period. This figure indicated the city’s established reputation as a leading ski resort destination.
As of 2024, home values in Steamboat Springs have jumped to $1,089,520, marking a 179.19% increase. The absolute dollar increase of $699,273 reflects the growing desire for luxury mountain properties and the continued allure of Colorado’s resort communities to wealthy buyers.
#17. Coeur d’Alene, ID
In 2009, Coeur d’Alene, Idaho had an average home value of $197,240, showcasing its emergence as a promising destination in the Mountain West post-crisis. This scenic city was already drawing attention for its natural beauty and quality of life.
By 2024, Coeur d’Alene’s home market exhibited significant gains, with average home values climbing to $551,491. This represents a 179.60% increase, equating to an absolute dollar increase of $354,251. This growth indicates the city’s rising status as a sought-after location for remote workers and retirees looking for a higher quality of living.
#16. Boise City, ID
In 2009, Boise City, Idaho’s average home value was $169,015, highlighting its status as an economical state capital during the post-crisis phase. This pricing helped many residents afford homeownership in this expanding metropolitan area.
Fast forward to 2024, and Boise’s housing scene has flourished, with average home values skyrocketing to $472,779—a 179.73% increase. An absolute dollar gain of $303,764 underscores Boise’s rise as a key tech hub, attracting those eager for a high quality of life at a cost lower than coastal cities.
#15. Madera, CA
In 2009, Madera, California presented an average home value of $144,130, indicating the harsh effects of the financial crisis that hit California’s Central Valley. This amount reflected a significant downturn from pre-crisis prices.
By 2024, Madera’s housing landscape has significantly improved, with average home values reaching $407,500—a 182.73% increase. The absolute dollar increase of $263,371 highlights the recovery in California’s housing sector and the growing attraction of more affordable options outside coastal regions.
#14. Cedartown, GA
In 2009, Cedartown, Georgia had an average home value of $75,745, making it one of the more affordable markets throughout this analysis during the post-crisis phase. This price point underscored the tough economic conditions that many small Southern communities faced back then.
By 2024, Cedartown’s housing market experienced impressive growth, with average home values rounding up to $214,679. This signifies a 183.42% increase, reflecting an absolute dollar gain of $138,934. This shift reveals the rising appeal of smaller, economical communities that lie within commuting distance of larger urban centers.
#13. Heber, UT
In 2009, the average home in Heber, Utah was priced at $380,212, reflecting its desirability as a mountainside community at that time. This higher entry point signified its closeness to Park City and its appealing outdoor lifestyle.
By 2024, Heber’s housing market has risen dramatically, with average home prices reaching $1,078,245—a 183.59% increase. The absolute dollar spike of $698,033 signals significant demand for mountain lifestyle communities and affirms Utah’s robust economic growth.
#12. Lewisburg, TN
In 2009, Lewisburg, Tennessee had an average home value of $109,260, representative of many smaller Southern areas post-crisis. This pricing allowed homeownership for many in this Middle Tennessee town.
By 2024, the housing market in Lewisburg appreciated significantly, reaching an average value of $310,312—a 184.01% increase. The absolute dollar rise of $201,052 reflects the broader trend of increased appreciation in Tennessee’s housing sector, backed by the economic boom in Nashville.
#11. Fernley, NV
In 2009, the average home in Fernley, Nevada was priced at $138,642, indicating the overall toll of the financial crisis on Nevada’s housing market. This figure illustrated a notable drop compared to pre-crisis values.
By the year 2024, Fernley’s market has shown significant growth, with average home values reaching $394,621—an increase of 184.63%. The absolute dollar rise of $255,979 shows the recovery of Nevada’s economy and the growing attraction of Fernley as an economical choice near Reno.
#10. Yuba City, CA
In 2009, Yuba City, California had an average home value of $146,510, showcasing the significant effects of the financial crisis within California’s Central Valley communities. This value indicated a major drop compared to levels prior to the crisis.
By 2024, Yuba City’s housing market has witnessed substantial growth, with average home values hitting $425,624, representing a 190.51% increase. The absolute dollar increase of $279,113 illustrates California’s overall housing recovery and the rising appeal of more affordable areas outside major urban centers.
#9. Modesto, CA
In 2009, Modesto, California’s average home value was $160,227, illustrating the significant impacts of the financial crisis on California’s Central Valley. This amount reflected a notable decrease from prior peak values.
By 2024, Modesto’s average home prices have experienced considerable growth, reaching $465,917—a 190.79% increase. The absolute dollar rise of $305,690 reflects the recovery phase of California’s housing market and Modesto’s increasing attractiveness as a more budget-friendly alternative to the Bay Area.
#8. Riverside, CA
In 2009, Riverside, California had an average home value of $198,806, highlighting the severe impact of the financial crisis on Southern California’s Inland Empire. This value reflected a significant downturn from pre-crisis standards.
By 2024, Riverside’s housing market has seen notable appreciation, with average home values reaching $582,039. This represents a dramatic 192.77% increase and translates to an absolute dollar increase of $383,234. This growth illustrates Southern California’s housing recovery and Riverside’s appeal as a cost-effective alternative to coastal locales.
#7. Port St. Lucie, FL
In 2009, the average home value in Port St. Lucie, Florida was $134,662, underscoring the serious repercussions of the financial crisis on Florida’s real estate market. This figure represented a noticeable drop from earlier prices.
By 2024, Port St. Lucie’s housing market has shown impressive growth, with average home values soaring to $397,514—reflecting a 195.19% increase and an absolute dollar increase of $262,852. This rise mirrors Florida’s robust recovery and Port St. Lucie’s growing attraction as a more affordable option compared to larger urban areas in South Florida.
#6. Somerset, KY
In 2009, Somerset, Kentucky had an average home value of $52,409, marking it as one of the most affordable markets assessed during our analysis in the post-crisis period. This figure reflected both the rural character of the town and the broader economic hurdles faced at that time.
By 2024, Somerset’s housing market showcased impressive growth, with average home values rising to $155,245, which represents a 196.22% increase and an absolute dollar increase of $102,836. Though still considered affordable compared to many markets, this upward trend indicates a rising interest in smaller, rural communities.
#5. Prineville, OR
In 2009, Prineville, Oregon had an average home value of $152,492, placing it as an affordable area in central Oregon during the recovery period. This accessible price point allowed many residents to achieve homeownership.
Fast forward to 2024, and Prineville’s home values have surged to $457,802, representing a remarkable 200.21% increase and an absolute dollar increase of $305,310. This growth illustrates Oregon’s strong housing market recovery and Prineville’s transformation, propelled in part by investments in the tech industry.
#4. Stockton, CA
In 2009, Stockton, California showed an average home value of $176,258, demonstrating the severe depletion the financial crisis inflicted on California’s Central Valley, especially with the city being hard-hit by foreclosure rates.
By 2024, Stockton’s housing market witnessed an impressive resurgence, with average home values soaring to $538,829, which marks a 205.71% increase. The absolute dollar growth of $362,572 reflects California’s housing recovery, and Stockton’s rising profile as a more cost-effective option compared to the Bay Area.
#3. San Jose, CA
In 2009, San Jose, California had an average home value of $496,027, underscoring its status as a tech epicenter even amid the financial upheaval. This higher base value illustrated the resilience of Silicon Valley’s housing environment.
By 2024, San Jose’s housing market experienced tremendous expansion, with average home values hitting $1,575,914, marking a 217.71% increase and an absolute dollar rise of $1,079,887. This extraordinary appreciation illustrates San Jose’s strong position within Silicon Valley and the significant wealth generated in the tech industry.
#2. Clewiston, FL
In 2009, Clewiston, Florida had an average home value of $83,238, a reflection of the financial crisis’ effects and of its position as a smaller rural community. This pricing indicated a significant retracement from higher pre-crisis levels.
Fast forward to 2024, and Clewiston’s housing market has demonstrated spectacular growth, with average home values ascending to $272,021—a stunning increase of 226.80% with an absolute dollar rise of $188,783. This remarkable recovery highlights Florida’s housing resurgence and the growing appeal of smaller communities in the region.
#1. Merced, CA
In 2009, Merced, California had an average home value of $115,119, which revealed the drastic effects of the financial downturn in the Central Valley. The area particularly felt the weight of the foreclosure crisis and economic strife.
By 2024, Merced’s housing market experienced the most significant growth in this analysis, with average home values reaching $414,772. This marks a 260.30% increase and an absolute increase of $299,653. This extraordinary change signifies California’s housing recovery, the significant influence of UC Merced’s expansion, and the increasing allure of cost-effective alternatives to coastal cities in California.
