The number one emerging housing market in America is in the Midwest. Topeka, Kansas, ranked the highest among the top 20 emerging markets and is expected to do relatively well amid the tumultuous housing market compared to the rest of the country, according to the WSJ/Realtor.com Fall 2023 Emerging Housing Markets Index.
However, the majority of the emerging markets, 15 of the 20, had relatively lower prices than the national median of $430,000 in September. US HOUSING MARKET: EXPERT SAYS ‘ALL HOPE IS NOT LOST’ FOR POTENTIAL HOMEBUYERS For one, a typical home for sale in Topeka was listed for $250,000 in September, down 42% from the national median. Homes within Kansas' capital city– which is home to several large employers, were also down more than 40% compared to nearby Kansas City, according to the index.