If Amazon was picking the location for its HQ2 solely on the strength of housing markets? Then in the Midwest, Nashville and Columbus would have the greatest chances of landing the tech giant’s second headquarters, according to the latest research from ATTOM Data Solutions.
But overall, Amazon would pick Raleigh, North Carolina, for its HQ2. ATTOM ranked that city’s real estate market as the strongest of the 20 cities that Amazon is considering for its second headquarters.
Nashville’s housing market ranked fourth on ATTOM’s list, while Columbus’ came in eighth. Indianapolis’ housing market ranked 10th on ATTOM’s list, while Chicago’s came in 14th.
Of course, Amazon isn’t just considering housing markets as it narrows down the future location for its second headquarters. The company is looking, too, at transportation issues, infrastructure, the amount of skilled labor in a market and other factors.
But if it comes down to housing? Then ATTOM believes that Raleigh has the advantage.
ATTOM looked at several factors when juding the strength of the 20 cities’ housing markets. These include how affordable housing, how much homes have appreciated in value during the last five years and how high property taxes are. ATTOM also looked at the quality of schools and crime rates.
Nashville, the top-ranked Midwest city on ATTOM’s list, had a median housing price of $275,000 in the fourth quarter of 2017, and has seen housing prices increase 67 percent during the last five years. The city scored well in property taxes, too.
Columbus’ median home value stood at $138,000 in the fourth quarter of last year, a figure that has risen 52 percent in the last five years. Homes are affordable here.
In Indianapolis, the median housing price was an even lower $130,000 in the fourth quarter of year, a figure that has increased by just 16 percent during the last five years. And in Chicago, the median housing price of $223,000 in the fourth quarter of lat year increased 48 percent during the last five years.