These Cities Are the Best Hidden Gems With Real Estate Under $300K, According to Opendoor

Opendoor just released their list of the hottest ZIP codes and hidden gems from 2023, and cities in the South and Southeast got lots of love. Despite a market that many consider to be overpriced with outrageous interest rates according to the real estate platform, nearly 4 million homes were purchased last year, and 20 neighborhoods in particular stood out for selling property the fastest. Almost half are in Texas (with Cypress, Texas, jumping to first place), while the rest are located in Florida, the Carolinas, Tennessee, and Oklahoma.

Hottest Zip Codes

What lured folks to these hot spots? Opendoor notes the low cost of living in these areas is below the national average. Plus, their relatively small scale means there’s an abundance of convenient amenities and none of the congestion that plagues bigger cities—tight-knit communities are in high demand now. Besides Cypress, other ZIP codes that made the list include:

• Katy, Texas 
• Clarksville, Tenn.
• Yukon, Okla.   
• Summerville, S.C.

Larger cities that also ranked were San Antonio and Fort Worth. Opendoor’s methodology for identifying top ZIP codes involved analyzing data from the local Multiple Listing Services (MLS) where Opendoor Brokerage operates, and ZIPs were ranked by total homes which went into contract within 90 days of listing in 2022.

Hidden Gem Cities

Additionally, Opendoor stats highlighted neighborhoods that are “under the radar,” where listings jumped between January to November 2023. They also made it a point to consider affordability, desirability, and availability when determining “hidden gems” across the country. According to the website, “They reflect buyers’ embrace of a different lifestyle, whether through simple-sizing, acquiring fewer things, reducing spending, or resizing their homes.” 

The cities on the list have smaller populations but are still close to major hubs, and developers are jumping on these areas—there’s a hefty inventory of newly-built, move-in ready homes in these up-and-coming places. On top of this, they’re affordable: Below is a list of 10 hidden gems with real estate averaging less than $300,000.

• Hopkins, S.C.
• Princeton, Texas
• Casselberry, Fla.
• Lewisburg, Tenn.
• North Richland Hills, Texas
• Royse City, Texas
• Winter Garden, Fla.
• Waterford, Mich.
• Piedmont, S.C.
• Helena, Ala.

Chelsea Goyer, national head of brokerage at Opendoor, says, “Our top neighborhoods show that homeowners prefer to escape the hustle and bustle of bigger cities for towns that offer most everything they need—including the right price. With mortgage rates reaching their highest level in over 20 years, many buyers seemed to seek out convenient locations and turnkey homes.” 

Opendoor’s methodology for identifying these hidden gems included examining the number of new listings in its markets that meet its acquisition criteria, in certain price bands, and calculating the percentage increase in number of new listings from January to November 2023 on a ZIP code level. A ZIP code needed at least five new listings in both months to qualify for the list.