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ffordability remains the main hurdle for first‑time buyers. In August the national median listing price held steady at $429,990, matching last year’s figure but slipping 2.2 % from July. Even with ample inventory, finding a home that fits a budget while offering the amenities buyers want is tough.
Smaller metros that sit near major job centers are gaining traction. “Smart buyers are zeroing in on cities that combine low prices with good jobs and lifestyle options,” notes Realtor.com’s senior economic research analyst, Hannah Jones. “In these markets, you don’t have to choose between affordability and opportunity.”
Springfield, MA, has led the “hottest” list for four straight months, driven by high demand and tight supply. “Competition is fierce; if you like a property, expect other offers,” says Sell My House Fast Massachusetts founder Fred Loguidice. “Prices can rise quickly, so keep a close eye on your budget.”
According to Realtor.com’s August 2025 Hottest Housing Markets report, 16 of the 20 top markets are priced below the national median, and seven have median prices under $300,000—most of them in the Midwest:
| City | Median List Price (Aug) | Days on Market |
|------|------------------------|----------------|
| Rochester, NY | $280,000 | 33 |
| Canton‑Massillon, OH | $270,000 | 33 |
| Rockford, IL | $250,000 | 37 |
| Akron, OH | $250,000 | 37 |
| Toledo, OH | $245,000 | 37 |
| Erie, PA | $239,000 | 38 |
| Springfield, IL | $215,000 | 35 |
Rochester offers parks and Finger Lakes access; Canton hosts the Pro Football Hall of Fame; Rockford, once a hardware hub, is now known as “Forest City”; Akron earned the title “Rubber Capital”; Toledo is a Jeep manufacturing center; Erie is Pennsylvania’s only Great Lakes city; and Springfield is Illinois’s capital and Lincoln’s birthplace.
Mortgage rates are easing, with the 30‑year fixed rate falling to 6.35 % as of the week ending September 11, a 15‑basis‑point drop and the biggest weekly decline in a year. Lower rates help stretch buyers’ dollars, especially in affordable metros that blend city perks with lower prices.
Realtor.com economists say the national market is balanced at five months of supply. Among the 50 largest metros, seven are clear buyer markets (6+ months), 20 remain strong seller markets (under 4 months), and 23 are balanced. Jones adds that the summer slowdown is easing, and the market’s shift toward balance could spark renewed buyer activity this fall.
