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The City of Philadelphia Holds 5 out of the 30 Spots
IRVINE, CA --(Marketwired - March 11, 2016) - RealtyTrac® (www.realtytrac.com), the nation's leading source for comprehensive housing data, today released an analysis on where hipsters are flipping. While the definition of hipster continues to evolve -- with hipsters always one step ahead of those who try to define them -- there remains at least one incontrovertible truth as it relates to the real estate needs of this particular tribe: they need a place to live.
But hipsters typically aren't looking for just any place to live; they are looking for a place that matches their particular vision of what a city, a neighborhood and a home should look, sound, feel, smell and taste like. When they find that vision, they are willing to pay a premium to experience it, which represents a boon for home flippers operating in those areas appealing to the hipster aesthetic -- especially given that many of the hipster hot spots are urban core neighborhoods with plenty of older homes in need of major renovation.
RealtyTrac identified the top 30 hipster zip codes nationwide for profitable home flipping based on average flipping returns along with demographic data from the U.S. Census. All 30 of these zip codes met five criteria that brand them not only as hipster hot spots but also as highly profitable for home flipping (see criteria list below). RealtyTrac ranked the zip codes based on the share of the population aged 20 to 34 in 2014.
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Investors, businesses and government institutions can contact RealtyTrac to purchase the full dataset behind the Year-End and Q4 2015 U.S. Home Flipping report, including data at the state, metro, county and zip code level. The data is also available via bulk license or in customized reports. For more information contact our Data Solutions Department at 800.462.5193 or firstname.lastname@example.org.
RealtyTrac is a leading provider of comprehensive U.S. housing and property data, including nationwide parcel-level records for more than 130 million U.S. properties. Detailed data attributes include property characteristics, tax assessor data, sales and mortgage deed records, distressed data, including default, foreclosure and auctions status, and Automated Valuation Models (AVMs). Sourced from RealtyTrac subsidiary Homefacts.com, the company's proprietary national neighborhood-level database includes more than 50 key local and neighborhood level dynamics for residential properties, providing unrivaled pre-diligence capabilities and a parcel risk database for portfolio analysis. RealtyTrac's data is widely viewed as the industry standard and, as such, is relied upon by real estate professionals and service providers, marketers and financial institutions, as well as the Federal Reserve, U.S. Treasury Department, HUD, state housing and banking departments, investment funds and tens of millions of consumers.
Jennifer von Pohlmann
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