Best Cities for Real Estate in 2023

Thinking about buying a house in 2023? Experts predict an inventory increase, which could result in a better year for buyers than sellers. However, unless high mortgage rates in 2023 begin to drop, buyers may find budgeting difficult. Whether you’re looking to buy your first house, or have been waiting for the right moment to enter the real estate market, here are the 11 best cities for real estate in 2023!

• Augusta, GA
• Austin, TX
• Buffalo, NY
• Colorado Springs, CO
• Columbus, OH
• Green Bay, WI
• Indianapolis, IN
• Nashville, TN
• Phoenix, AZ
• Raleigh, NC
• Tampa, FL

Augusta, GA

• Population: 196,784
• Median Listing Price: $199,900
• Median Price/Sq Ft: $126
• Median Days on Market: 31 days

With a somewhat competitive housing market balanced between buyers and sellers, Augusta is projected to be one of the best cities for real estate in 2023. Augusta home values are increasing at a slower rate than other Georgia cities like Atlanta and Savannah, and the current median home value is nearly half the U.S. median home value. This affordability factor can be traced to the general cost of living in Augusta, which is 12% lower than the Georgia cost of living and 19% lower than the U.S. average. You can expect to see Georgian and Federal-style homes in the Augusta real estate market, as well as some Italianate, Farmhouse, and Ranch styles.

Austin, TX

• Population: 907,779
• Median Listing Price: $600,000
• Median Price/Sq Ft: $349
• Median Days on Market: 56 days

Austin is one of the best big cities to live in the U.S. and has been recognized as one of the best places to live in the South! The capital of Texas continues to attract new residents every year with its live music experiences, bustling tech industry, and growing culinary scene. Despite the national market slowing down, the Austin real estate market is still going strong, with homes selling close to listing price. Home prices are increasing at a slower rate, and housing inventory has increased to three months, indicating a turn toward more of a buyer’s housing market in 2023. Homebuyers can find a wide range of housing options on the market throughout the Austin area, from traditional bungalows and Mid-Century Modern ranches to custom new construction.

Buffalo, NY

• Population: 258,989
• Median Listing Price: $170,000
• Median Price/Sq Ft: $124
• Median Days on Market: 13 days

Buffalo may be quite a snowy city, but the affordable cost of living makes it one of the best cities for real estate. With a balanced housing market and home prices trending up 3% over time, you’ll find the Buffalo housing market to be healthy and somewhat competitive. Similarly, the Buffalo housing market is projected to be one of the top real estate markets in 2023! Despite being a seller’s market, if the city follows the national predictions of sales decreasing 14.1% and inventory increasing 22.8%, it should begin trending toward a buyer’s market. Buffalo homes for sale often come in Ranch-style, Mid-Century Modern, and Modern styles.

Colorado Springs, CO

• Population: 448,759
• Median Listing Price: $449,900
• Median Price/Sq Ft: $212
• Median Days on Market: 41 days

Want to live in Colorado with lower housing costs than cities like Boulder or Denver? Try Colorado Springs! This Colorado city was named the most desirable place to live in 2022-2023, winning the title for the fifth year in a row for great outdoor recreation opportunities and cost of living. The Colorado Springs real estate market is firmly on the buyer’s market side, and Colorado Springs home values are projected to increase by 12.3% in 2023—making it one of the best cities for real estate. If you’re planning to move to this Colorado city, you’ll find plenty of different home styles like Craftsman, Colonial, Farmhouse, and Contemporary.

Columbus, OH

• Population: 837,038
• Median Listing Price: $250,000
• Median Price/Sq Ft: $169
• Median Days on Market: 43 days

Recognized as one of the most affordable U.S. cities to live in, Columbus is a hot spot that offers tons of jobs, big-city amenities, and a growing real estate market. With current housing prices 23% lower than the national average in a buyer’s market, Columbus real estate is abundant and more affordable than markets in other major cities like San Francisco and Washington, DC. Whether you’re looking to buy your first house, a spacious family home, or a budget-friendly home for retirement, the Columbus housing market has styles ranging from modern farmhouses to new construction that won’t break the bank!

Green Bay, WI

• Population: 104,951
• Median Listing Price: $250,000
• Median Price/Sq Ft: $149
• Median Days on Market: 43 days

You may know Green Bay for the city’s sports scene, but this Wisconsin city has plenty to offer in the real estate market! Along with being ranked second on the list of most affordable places to live in the U.S., it’s one of the best cities for families. While this city does have a seller’s market, the Green Bay median home value is 32% lower than the U.S. average, with a cost of living 12% less expensive than the rest of the country. Green Bay homes for sale can come in many different styles, from Ranch to the occasional Mid-Century Modern home, or you can delve into the Green Bay housing market with a custom-built home.

Indianapolis, IN

• Population: 846,674
• Median Listing Price: $235,000
• Median Price/Sq Ft: $131
• Median Days on Market: 18 days

Indianapolis is another great place to buy real estate in 2023, while also being an extremely desirable place to live! Home prices in Indianapolis are 35% lower than the U.S. average, making it an affordable option for American homebuyers. The housing market in this Midwestern city has remained one of the hottest in the country for years—and with Indianapolis homes still spending less than half the U.S. median days on market, this trend is set to continue. Thanks to homebuying programs funded by the Indiana Housing & Community Development Authority, the Indianapolis housing market is primed for first-time homebuyers in particular.

Nashville, TN

• Population: 643,771
• Median Listing Price: $489,900
• Median Price/Sq Ft: $289
• Median Days on Market: 48 days

Nashville is ranked as one of the best places to live in the Southeast and is among the fastest-growing cities in the U.S. Along with its recent population growth, the Nashville real estate market has taken off, with home prices expecting a further increase after rising 11.4% since last year. Even with costs climbing, real estate prices will be more affordable than those in similar-sized metro housing markets like Denver. This Tennessee city is also great for young professionals because Nashville has strong industries in healthcare and technology, a fantastic live music and nightlife scene, and great affordability. Here, you’ll find housing options like American Foursquares and Tudors.

Phoenix, AZ

• Population: 1,555,324
• Median Listing Price: $449,900
• Median Price/Sq Ft: $277
• Median Days on Market: 56 days

The thriving Southwestern city of Phoenix has something to offer people of all lifestyles, from singles and young professionals to retirees and more! Aside from its year-round warm weather and abundant arts and culture, the Phoenix real estate market is another major draw for those thinking of moving to this Arizona city. While the housing market is cooling, it still remains one of the hottest in the U.S. and has begun to favor buyers more than sellers! Available homes in Phoenix come in diverse styles, from Ranch to Pueblo Revival, and more.

Raleigh, NC

• Population: 441,326
• Median Listing Price: $434,900
• Median Price/Sq Ft: $224
• Median Days on Market: 39 days

Up-and-coming Raleigh frequently ranks as one of the best big U.S. cities to live in, thanks to its research and education opportunities. Universities like North Carolina State University, Duke University, and The University of North Carolina are major employers, making Raleigh a great place for students and young professionals looking to continue their education. The Raleigh housing market has experienced an increase in the months’ supply of homes over the past year and, while home prices are still high, the country-wide trend of increasing months of supply will be helpful for buyers who have been waiting for more inventory in the capital of North Carolina.

Tampa, FL

• Population: 361,477
• Median Listing Price: $420,000
• Median Price/Sq Ft: $266
• Median Days on Market: 30 days

The Tampa–St. Petersburg-Clearwater metro has become a popular housing market for homebuyers who want to live in Florida but don’t want the high price tag of West Palm Beach and Miami. Over the years, Tampa’s population growth has been outpacing the national average. This Florida city is predicted to have a hot housing market in 2023 since Tampa home values increased 19.9% in the past year. If you’re looking for newly renovated homes in Mediterranean styles or cozy beach bungalows, the Tampa real estate market is worth checking out! Beyond its housing market, Tampa is also known for its beautiful beaches and year-round warm weather.

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Population statistics from AreaVibes. Housing statistics from Realtor.com and Redfin.com.