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).
Suraj Shrestha is an associate at Harborside Partners. He has been taking the lead role on research projects; to develop and implement online marketing strategies for search engine optimization and social media marketing. He is one of the core parts for helping to grow business revenue and the company’s online presence.