Price Appreciation Returns To Opportunity Zones
Low-income redevelopment zones continue to benefit from home price appreciation around the country, and some are faring better than their neighbors.
ATTOM’s Q2 2023 review of low-income Opportunity Zones targeted by Congress for economic redevelopment found that 61% of the 3,909 data zones saw price increases. In half of those, prices were up 5% or more.
Opportunity zones exist in and around low-income neighborhoods where the federal government offers tax breaks to advance economic development. Overall, these areas follow home price trends in other parts of the country.
Values declined in the last half of 2022 before recovering in 2023, a pattern that has impacted most U.S. neighborhoods. But prices in many zones rose faster than the nationwide trend both…