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Fortune

Glen Luke Flanagan

Buffalo and Indianapolis top Zillow’s 2025 ranking of the hottest housing markets in the U.S. Did your city make the list?

Zillow Buffalo Indianapolis United States Housing Market Orphe Divounguy Indiana

A view of Indianapolis from the White River. (Credit: Joe Sohm—Visions of America/Universal Images Group/Getty Images)

Buffalo, New York and Indianapolis have claimed the No. 1 and No. 2 spots on Zillow’s forecast of the hottest housing markets of 2025.

No, it’s not because homebuyers in the cities enjoy proximity to Niagara Falls and the Indy 500—though it probably doesn’t hurt. Buffalo and Indy top Zillow’s 2025 ranking in large part because homes in each market tend to be more affordable compared to other major metros in the U.S.

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