# 2023’s Hottest ZIP Codes – and Hidden Gems
By Jackson Upcheshaw | 2024-01-04
## Key Takeaways
#### Key Takeaways
- **Cypress, Texas was the #1 hottest ZIP code in 2023** (up from #7 in 2022), reflecting the broader Sun Belt and suburban-Houston demand story that defined the year.
- **'Hottest ZIP' rankings are built on demand signals** — listing views per property and median days on market — not on price or volume alone. Two ZIPs with the same prices can rank very differently if buyer demand is concentrated in one.
- **Six new neighborhoods debuted on the 2023 list**, signaling that buyer geography shifted noticeably from 2022 — a normal pattern in transition markets.
- **Hidden gems matter as much as the top 20.** ZIPs with strong fundamentals (jobs, schools, livability) but lower visibility often offer better value than the headline rankings.
- **Buyer dynamics in any hot ZIP move fast.** If you're house-hunting in a top-ranked area, get [pre-approved before touring](https://www.opendoor.com/articles/how-to-buy-a-house) and lead with strong offer terms, not just price.
With sellers sitting on the sidelines and mortgage rates reaching their highest level in over 20 years, 2023 was a year unlike any other. Even so, [buyers purchased approximately 3.79 million homes](https://www.nar.realtor/research-and-statistics)\*. Where did homeowners settle last year?
Many buyers sought convenient locations and turnkey homes. Half of our list includes a number of Texas neighborhoods, followed by neighborhoods in Florida, the Carolinas, Georgia and Oklahoma – all states where the [cost of living](https://www.houston.org/houston-data/cost-living-comparison) is below the national average.
Homes purchased in our top neighborhoods reflect the desire of homeowners to head to towns with convenient amenities instead of the congestion of bigger cities. This is in keeping with [2022’s list](https://www.opendoor.com/articles/2022s-hottest-zip-codes), when buyers sought a tight-knit community and plenty of activities. Price also continues to be a major factor: [Opendoor’s data shows](https://www.opendoor.com/articles/todays-mismatched-market-real-estate-perceptions-vs-reality) buyers and sellers still believe the housing market is competitive, they’re concerned about interest rates, and they think homes are overpriced.
**So who made the list?** Across Opendoor markets, here are the top 20 hottest neighborhoods where people bought homes the fastest in 2023. Cypress, Texas jumped the list to #1 (from #7 in 2022), and six new neighborhoods – from Wake Forest, North Carolina, to Davenport, Florida – made their debut:
**Uncovering Hidden Gems**
In addition to the top markets, we also looked for the hidden gems – neighborhoods under the radar – by examining where new listings increased from January to November 2023.
The results have three things in common: **Affordability, Desirability, **and** Availability. **They reflect buyers’ embrace of a different lifestyle, whether through [simple-sizing](https://www.opendoor.com/articles/simple-sizing), acquiring fewer things, reducing spending, or resizing their homes.
Many of these areas have more opportunity than meets the eye. They have smaller populations than cities, but are growing rapidly because they are accessible to major metros. And they are in areas some wouldn’t expect to look.
## How hottest ZIP code rankings are calculated
Most 'hottest ZIP code' lists — including the widely cited 2023 ranking — combine two demand signals into a single score:
- **Listing views per property.** A measure of how many shoppers are looking at each available home in the ZIP, normalized by inventory. This captures buyer interest independent of how many homes happen to be for sale.
- **Median days on market.** How quickly a typical listing goes under contract. Low DOM signals tight demand relative to supply.
These two metrics together explain why a ZIP code in a mid-priced suburb can outrank a high-priced coastal market: it's not about price level, it's about **demand intensity per available home**.
A few caveats worth knowing when you read any 'hottest ZIPs' list:
- **Rankings are point-in-time.** A ZIP that topped the 2023 list isn't guaranteed to be hot in 2026; mortgage rates, employer relocations, and new construction can reset the picture in 18 months.
- **Affordability isn't ranked.** A hot ZIP is one with strong demand, not necessarily one offering good value. Some top-20 ZIPs are hot precisely because they're priced below their fundamentals.
- **Inventory matters.** Low-inventory metros can rank disproportionately well — there's simply not much for buyers to look at, so views-per-listing run high.
For a current view of demand and pricing in a specific market, browse [Opendoor's market pages](https://www.opendoor.com/homes), which surface live inventory and recent activity by metro.
## What buyers should do in a top-ranked ZIP
If you're shopping in one of the top-ranked 2023 ZIPs — or in any market that's running hot on the same demand indicators — the tactical playbook tightens.
- **Get pre-approved before you tour.** In hot ZIPs, sellers often won't entertain an offer without a current pre-approval letter. Pre-qualification doesn't cut it.
- **Decide your walk-away number in advance.** Hot markets reward discipline. Write down the maximum offer you're willing to make, then stop bidding when you hit it.
- **Lead with terms, not just price.** Earnest money (1% to 3%), a 30-day close, a tight inspection window, and minimal contingencies can win you a home even at a slightly lower price than competing offers.
- **Move on tour-day.** In top-20 ZIPs, the typical listing moves quickly. If you've toured a home you genuinely want, plan to submit an offer the same day, not the same week.
- **Have a sale strategy if you're selling first.** If you need to sell your current home to fund the next purchase, the home-sale contingency is a red flag for hot-ZIP sellers. An [Opendoor cash offer](https://help.opendoor.com/selling/how-it-works/how-selling-to-opendoor-works) lets you write a non-contingent offer on the new home.
For the full step-by-step process — from credit prep through closing — see our [how to buy a house guide](https://www.opendoor.com/articles/how-to-buy-a-house).
Related: [how to buy a house](https://www.opendoor.com/articles/how-to-buy-a-house).
**Frequently asked questions**
Newly built homes, like many in these neighborhoods, are becoming [a more accessible option](https://www.opendoor.com/articles/splurge-or-save-what-new-construction-buyers-value-in-todays-market), and developers continue to invest in these areas. If you’re looking for something [move-in ready](https://www.opendoor.com/articles), take the time to explore these up-and-coming places.
No matter where 2024 takes you, Opendoor is here to help you move into your next phase of your life with ease. Visit Opendoor.com to get started.
**Hottest ZIPs Methodology: ***Top ZIP codes are identified by analyzing data from the local Multiple Listing Services (MLS) where Opendoor Brokerage operates. ZIPs were ranked by total homes which went into contract within 90 days of listing in 2022.*
**Hidden Gems Methodology: ***Opendoor examined the number of new listings in its markets which meet its acquisition criteria, in certain price bands, and calculated the percentage increase in number of new listings from January 2023 to November 2023 on a ZIP code level. A ZIP code needed at least 5 new listings in both months to qualify for the list.*
*\*seasonally adjusted annual rate*
---
*Originally published at [https://www.opendoor.com/articles/2023-hottest-zip-codes](https://www.opendoor.com/articles/2023-hottest-zip-codes)*