Appleton, Wis., Claims No. 1 Spot in Fall 2026 Wall Street Journal and Realtor.com® Housing Market Ranking

Midwest and Northeast markets continue to lead as buyers seek value amid higher mortgage rates

NEW YORK and AUSTIN, Texas, Oct. 29, 2026 /PRNewswire/ -- The Wall Street Journal and Realtor.com^® Economics today released the Fall 2026 Wall Street Journal/Realtor.com^® Housing Market Ranking, naming Appleton, Wis., the nation's top housing market. Nineteen of the top 20 markets are in the Midwest and Northeast, with Lynchburg, Va., the lone exception.

The national housing market has lost momentum as mortgage rates climbed through the summer and into the fall. The 30-year fixed rate now averages 7.40%, up from 6.27% a year ago, raising the typical monthly principal-and-interest payment by roughly 12% at the same loan amount and putting some buyers' plans on hold. At today's rate, home prices would need to fall 11% to bring the typical payment back to year-ago levels, an unlikely outcome.

"Higher mortgage rates have made the affordability challenge more acute, but they have also sharpened the search for markets where buyers can get more value for their money," said Hannah Jones, senior economist at Realtor.com^®. "Appleton's top ranking reflects a broad set of strengths rather than one standout metric, including a strong local economy, relatively low housing and living costs, steady demand, improving inventory and a high quality of life. The broader list shows that buyers continue to gravitate toward markets where the fundamentals still add up."

The Fall 2026 Ranking evaluates the 200 most populous U.S. metropolitan areas using a combination of housing-market conditions and broader measures of economic health and livability. The Fall 2026 Ranking identified the following top areas:

1. Appleton, Wis.
2. South Bend, Ind.
3. Canton, Ohio
4. Manchester, N.H.
5. Lancaster, Pa.
6. Waterbury, Conn.
7. Reading, Pa.
8. Fort Wayne, Ind.
9. Rockford, Ill.
10. Harrisburg, Pa.
11. Springfield, Mass.
12. Springfield, Mo.
13. Grand Rapids, Mich.
14. Portland, Maine
15. Bridgeport, Conn.
16. Kalamazoo, Mich.
17. York, Pa.
18. Hartford, Conn.
19. Norwich, Conn.
20. Lynchburg, Va.

At roughly 250,000 residents, Appleton, Wis., is the smallest market in the top 20, yet it scores well across the ranking's measures. Its median listing price was $404,950 in September, 1.3% higher than a year earlier and below the national median of $419,250. Active listings more than doubled year over year to 695 homes, while homes spent 40 days on the market, about three weeks less than the national average. Appleton's 2.8% unemployment rate was also well below the 4.2% average across ranked metros and its cost of living was roughly 8% below the national average.

That balance is visible across the top 20. The markets averaged about 523,000 residents, compared with 1.3 million across all 200 ranked metros and many offer access to major job centers without the costs of the largest cities. Reading and Lancaster, Pa., are near Philadelphia; Waterbury, Conn., is within reach of New York and Manchester, N.H., and Portland, Maine, offer proximity to Boston. Homes in the top 20 spent an average of 41 days on the market in September, nearly three weeks less than the 61-day national average.

For many buyers, the appeal is most visible in the monthly payment. In 15 of the top 20 markets, the typical principal-and-interest payment given September prices was below the national level of $2,863, even at a 7.40% mortgage rate. Payments were as low as $1,820 in Canton, Ohio, $1,834 in Rockford, Ill., and $2,202 in South Bend, Ind.

The preference for value is driving strong demand. Prices rose year over year in 11 of the 20 markets, even as the national median listing price fell 1.4% in September. Buyers in these markets generally start from a lower price base and growing inventory and more frequent price reductions may give them additional ways to manage higher borrowing costs whether through a lower purchase price or seller concessions.

The ranking also continues to evolve. Fourteen of the top 20 markets appeared in the summer's top 20, while six are new to the group. Bridgeport, Conn., made the largest move, rising 33 spots to No. 15, followed by Portland, Maine, which climbed 32 spots to No. 14 and Waterbury, Conn., which rose 26 spots to No. 6. Two Michigan metros, Grand Rapids and Kalamazoo, and Hartford, Conn., also joined the top tier. Six summer top-20 markets fell out, most notably Youngstown, Ohio, which dropped 40 spots, from No. 16 to No. 56.

The ranking captures broad patterns, but local conditions still vary. The Realtor.com^® Market Clock^® tool placed the national market at 4 o'clock in October, or late balanced territory moving toward buyers. The Midwest remained predominantly seller-friendly, while the South and West were more balanced; the Northeast had no buyer markets among the metros analyzed. Hartford, Conn., stood out, with just 12.6% of listings carrying a price reduction and the only Market Clock^® reading at 12 o'clock, the peak-seller position.

Methodology
The ranking evaluates the 200 most populous core-based statistical areas, as measured by the U.S. Census Bureau, and defined by July 2023 OMB delineation standards for twelve indicators across two broad categories: real estate market (60%) and economic health and quality of life (40%). Each market is ranked on a scale of 0 to 100 according to the category indicators, and the overall result is based on the weighted sum of these rankings. The real estate market category indicators are: real estate demand (15%), based on average pageviews per property; real estate supply (15%), based on median days on market for real estate listings; median listing price trend (10%), based on annual price growth over the quarter; property taxes (10%); and climate risk to properties (10%). The economic and quality of life category indicators are: unemployment (5%); wages (5%); regional price parities (5%); the share of foreign born (5%); small businesses (5%); amenities (10%), measured as the average number of stores per specific "everyday splurge" category (coffee, upscale/specialty grocery, home improvement, fitness) per capita in an area and commute time (5%).

About Realtor.com^®
For over 30 years, Realtor.com^® has connected buyers, sellers, and renters with trusted insights, professional guidance and powerful tools to help them find their perfect home. Recognized as the No. 1 real estate site REALTOR^® agents recommend, Realtor.com^® delivers consumer connections and a robust suite of marketing tools to support business growth. Realtor.com^® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc.

About The Wall Street Journal
The Wall Street Journal is a global news organization that provides leading news, information, commentary and analysis. The Wall Street Journal engages readers across print, digital, mobile, social, podcast and video. Building on its heritage as the preeminent source of global business and financial news, the Journal includes coverage of U.S. and world news, politics, arts, culture, lifestyle, sports and health. It holds 40 Pulitzer Prizes for outstanding journalism. The Wall Street Journal is published by Dow Jones, a division of News Corp (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV).

Media contact: Janice McDill, [email protected]

SOURCE Realtor.com