Housing Market Madness: Which Tourney Contender’s Market Is the Sweetest For Buyers and Sellers?
The Bottom Line
Lexington, Kentucky took the title for Mortgage Research Center’s 2025 Housing Market Tournament
University of Kentucky Wildcats fans have something to celebrate even if their team doesn’t come away with it all — the title for the most balanced and beneficial housing market of any college basketball tourney contender.
Lexington, Kentucky, residents enjoy the sweetest market for buyers and sellers, plus a stellar quality of life rating, according to a unique analysis by Mortgage Research Center.
We ranked the housing markets of 64 madness-bound universities to find the best for both buyers and sellers considering affordability, speed of transactions, and the prevalence of price cuts. But buyers also have to enjoy the area where they buy a home (which helps sellers, too). So we measured quality-of-life metrics in each metro that are important to new residents. In total, 54 markets were analyzed due to certain markets containing more than one school or having insufficient data
Unlike a big tournament, more than one housing market can win big. Rounding out the four market finalists were Pittsburgh, home of Robert Morris University; Virginia Beach, Va. which Norfolk State calls home; and Ames, Iowa, of Iowa State fame.
Is your favorite team’s housing market a bracket-buster? Let’s take a look.
Ranking the Housing Markets of Teams in the 2025 Tournament
| Rank & Housing Market | University/ies | Market Madness Score | Days to Accepted Offer | Share of Listings w/Price Cut | Payment as % of Monthly Income | Lifestyle Rank |
|---|---|---|---|---|---|---|
| 1. Lexington-Fayette, KY | University of Kentucky | 98.5 | 29 | 20% | 27% | 15 |
| 2. Pittsburgh, PA | Robert Morris University | 97.9 | 34 | 20% | 28% | 32 |
| 3. Virginia Beach-Chesapeake-Norfolk, VA-NC | Norfolk State University | 96.7 | 35 | 20% | 40% | 12 |
| 4. Ames, IA | Iowa State University | 95.9 | 40 | 18% | 37% | 10 |
| 5. Des Moines-West Des Moines, IA | Drake University | 93.3 | 38 | 24% | 33% | 9 |
| 6. St. Louis, MO-IL | SIU Edwardsville | 92.8 | 16 | 20% | 26% | 19 |
| 7. Lubbock, TX | Texas Tech University | 91.2 | 58 | 21% | 35% | 16 |
| 8. Montgomery, AL | Alabama State University | 90.5 | 32 | 17% | 33% | 30 |
| 9. Milwaukee-Waukesha, WI | Marquette University | 90.3 | 34 | 17% | 36% | 20 |
| 10. Oklahoma City, OK | The University of Oklahoma | 90.0 | 38 | 24% | 39% | 17 |
| 11. Spartanburg, SC | Wofford College | 89.9 | 33 | 23% | 44% | 8 |
| 12. Lansing-East Lansing, MI | Michigan State University | 88.5 | 22 | 22% | 28% | 40 |
| 13. Champaign-Urbana, IL | University of Illinois | 88.5 | 19 | 19% | 34% | 35 |
| 14. Fayetteville-Springdale-Rogers, AR | University of Arkansas | 87.6 | 34 | 22% | 48% | 28 |
| 15. Omaha, NE-IA | Creighton University, University of Nebraska Omaha | 87.4 | 24 | 26% | 33% | 5 |
| 16. Houston-Pasadena-The Woodlands, TX | University of Houston | 87.0 | 46 | 23% | 40% | 37 |
| 17. Lynchburg, VA | Liberty University | 87.0 | 26 | 21% | 41% | 39 |
| 18. Athens-Clarke County, GA | University of Georgia | 86.9 | 51 | 19% | 56% | 14 |
| 19. Gainesville, FL | University of Florida | 86.7 | 50 | 20% | 52% | 34 |
| 20. New Haven, CT | Yale University | 85.6 | 16 | 16% | 39% | 4 |
| 21. Memphis, TN-MS-AR | University of Memphis | 85.6 | 38 | 23% | 41% | 43 |
| 22. San Diego-Chula Vista-Carlsbad, CA | UC San Diego | 84.9 | 26 | 21% | 40% | 45 |
| 23. Fort Collins-Loveland, CO | Colorado State University | 84.6 | 51 | 18% | 59% | 7 |
| 24. Spokane-Spokane Valley, WA | Gonzaga University | 83.3 | 49 | 22% | 56% | 22 |
| 25. Wilmington, NC | UNC Wilmington | 83.1 | 32 | 23% | 62% | 6 |
| 26. Lawrence, KS | University of Kansas | 83.1 | 27 | 18% | 48% | 38 |
| 27. Greensboro-High Point, NC | High Point University | 83.0 | 25 | 25% | 42% | 13 |
| 28. Auburn-Opelika, AL | Auburn University | 82.6 | 26 | 21% | 60% | 21 |
| 29. Louisville/Jefferson County, KY-IN | University of Louisville | 82.3 | 24 | 25% | 36% | 27 |
| 30. Columbia, MO | University of Missouri | 82.3 | 25 | 17% | 46% | 33 |
| 31. Madison, WI | University of Wisconsin | 82.0 | 24 | 12% | 45% | 1 |
| 32. Akron, OH | University of Akron | 81.6 | 17 | 23% | 25% | 53 |
| 33. Tuscaloosa, AL | University of Alabama | 81.5 | 34 | 16% | 42% | 49 |
| 34. Durham-Chapel Hill, NC | Duke University, University of North Carolina | 81.2 | 34 | 22% | 48% | 51 |
| 35. Albuquerque, NM | University of New Mexico | 80.6 | 25 | 23% | 51% | 23 |
| 36. Provo-Orem-Lehi, UT | Brigham Young University | 80.5 | 38 | 26% | 53% | 26 |
| 37. San Francisco-Oakland-Fremont, CA | Saint Mary's College of California | 80.2 | 25 | 14% | 61% | 2 |
| 38. Lafayette-West Lafayette, IN | Purdue University | 80.2 | 15 | 22% | 47% | 31 |
| 39. Nashville-Davidson--Murfreesboro--Franklin, TN | Vanderbilt University, Lipscomb University | 79.6 | 41 | 26% | 55% | 29 |
| 40. Tucson, AZ | University of Arizona | 79.1 | 38 | 25% | 52% | 41 |
| 41. Hartford-West Hartford-East Hartford, CT | University of Connecticut | 78.9 | 10 | 15% | 35% | 24 |
| 42. Ann Arbor, MI | University of Michigan | 78.8 | 20 | 18% | 41% | 52 |
| 43. Richmond, VA | Virginia Commonwealth University | 78.5 | 16 | 23% | 40% | 44 |
| 44. Providence-Warwick, RI-MA | Bryant University | 78.0 | 17 | 18% | 52% | 36 |
| 45. Cincinnati, OH-KY-IN | Xavier University | 77.9 | 16 | 24% | 32% | 48 |
| 46. Lake Charles, LA | McNeese State University | 77.5 | 92 | 18% | 31% | 25 |
| 47. Washington-Arlington-Alexandria, DC-VA-MD-WV | University of Maryland | 77.0 | 16 | 19% | 40% | 54 |
| 48. College Station-Bryan, TX | Texas A&M University | 76.8 | 49 | 13% | 53% | 18 |
| 49. New York-Newark-Jersey City, NY-NJ | St. John's University | 75.0 | 39 | 11% | 68% | 3 |
| 50. Oxford, MS | University of Mississippi | 72.9 | 37 | 15% | 64% | 47 |
| 51. Knoxville, TN | University of Tennessee | 72.5 | 31 | 26% | 55% | 42 |
| 52. Phoenix-Mesa-Chandler, AZ | Grand Canyon University | 66.8 | 38 | 30% | 54% | 50 |
| 53. Los Angeles-Long Beach-Anaheim, CA | University of California Los Angeles | 64.4 | 26 | 16% | 98% | 11 |
| 54. Waco, TX | Baylor University | 62.6 | 61 | 9% | 43% | 46 |
*54 markets were analyzed due to universities sharing the same metro area or being located in areas with insufficient data.
The 16 Sweetest Housing Markets In College Basketball
1. Lexington-Fayette, Ky. – University of Kentucky (SEC, 22–11)
Known as the "Horse Capital of the World," Lexington offers Southern charm as well as affordability, a strong job market, and a vibrant arts and entertainment scene. It is renowned for its horse farms and racing heritage, with attractions like the Kentucky Horse Park and Keeneland Race Course. Lexington has a lively arts scene, the Kentucky Bourbon Trail, and a revitalized downtown with a growing food and craft beer scene. It also offers access to parks, trails, and outdoor activities, allowing residents to enjoy the natural beauty of the surrounding area.
2. Pittsburgh, Pa. – Robert Morris University (Horizon, 26–8)
Moon Township, located near Pittsburgh, provides residents with a suburban feel while being close to urban amenities. The area's affordable housing, excellent schools, and numerous parks make it appealing to families and professionals. Robert Morris University adds to the community's educational and cultural offerings, enhancing the township's vibrancy.
3. Virginia Beach-Chesapeake-Norfolk, Va.-N.C. – Norfolk State University (MEAC, 24–10)
Norfolk's strategic location as a port city has bolstered its economy, with a strong emphasis on maritime industries and military installations. Known for its military history, the city is home to Naval Station Norfolk, the world's largest naval base. The housing market offers a range of options, from historic homes to modern developments, with home values appreciating steadily. The city's rich history, cultural institutions, and waterfront attractions make it a desirable place to live.
4. Ames, Iowa – Iowa State (Big 12, 24–9)
Ames is best known as the home of Iowa State University, which brings educational and research opportunities, Big 12 college sports, cultural events and a lively, youthful atmosphere. It has a welcoming, tight-knit community that values education, sustainability, and inclusivity. Its affordability and highly rated public schools make it a great place to raise a family. Ames also offers plenty of parks, trails, and outdoor recreation and a surprisingly rich arts and music scene. Stephens Auditorium hosts concerts, Broadway shows, and performances, while the Ames Main Street Cultural District is a hub for local art, music, and food festivals.
5. Des Moines-West Des Moines, Iowa – Drake University (Missouri Valley, 30–3)
Des Moines, Iowa’s capital city, is known for its strong job market, affordable cost of living, and growing real estate market. The city has consistently ranked as one of the best places to live in the Midwest, with a steady demand for housing driven by a mix of young professionals, families, and retirees. Home values in Des Moines have been appreciating, but the city remains more affordable than many other metropolitan areas. The presence of Drake University adds to the city’s vibrant cultural scene, offering performing arts, sporting events, and community engagement opportunities. Residents enjoy a high quality of life, with access to parks, bike trails, and a revitalized downtown featuring restaurants, breweries, and entertainment venues.
6. St. Louis, Mo./Edwardsville, Ill. – Southern Illinois University Edwardsville (Ohio Valley, 22–11)
Edwardsville is located just 25 minutes from St. Louis, offering its residents the best of both worlds – easy access to big-city amenities, job opportunities, professional sports, and entertainment while enjoying a quieter, more affordable suburban lifestyle. Edwardsville has some of the best public schools in Illinois, making it a great place for families with children. SIUE brings a college-town feel, while downtown Edwardsville has a charming, historic feel, with local boutiques, coffee shops and a growing restaurant and craft beer scene. The city has a strong emphasis on outdoor activities. Madison County Transit Trails offers a network of scenic biking and walking trails, while Watershed Nature Center is a peaceful place for walking and birdwatching.
7. Lubbock, Texas – Texas Tech University (Big 12, 25–8)
Lubbock offers a blend of West Texas hospitality and urban amenities, with a cost of living below the national average. The housing market is characterized by affordability and steady appreciation, attracting both first-time homebuyers and investors. Texas Tech University serves as a major economic driver, fostering innovation and providing cultural and sporting events. Residents enjoy a strong sense of community, numerous parks, and a burgeoning arts scene.
8. Montgomery, Ala. – Alabama State University (19-15)
As the site of Rosa Parks' historic bus boycott during the Civil Rights Movement, Montgomery has a rich historical significance. The city offers an affordable cost of living, a growing economy with job opportunities in government, defense, and manufacturing, and strong educational institutions like Alabama State University. Montgomery also boasts a vibrant arts scene, outdoor activities along the Alabama River, and a family-friendly environment with numerous parks and cultural events. Its welcoming community, combined with proximity to cities like Birmingham and Atlanta, makes Montgomery an attractive place for residents seeking both small-town charm and modern amenities. It also has a diverse economy, with several major employers across various sectors, including Hyundai Motor Manufacturing Alabama, Maxwell-Gunter Air Force Base and Baptist Health.
9. Milwaukee-Waukesha, Wis. – Marquette (Big East, 23–10)
Milwaukee is known for its rich cultural history, strong economy, and diverse neighborhoods. Home to major employers in manufacturing, healthcare, and technology, the city offers job opportunities and a relatively affordable cost of living compared to larger U.S. cities. Milwaukee is famous for its beer culture, thriving food scene with farm-to-table dining, and historic sites like the Harley-Davidson Museum and Milwaukee Art Museum. The city also boasts a passionate sports culture, home to the Milwaukee Bucks (NBA) and Milwaukee Brewers (MLB), and offers abundant outdoor activities along its scenic Lake Michigan waterfront.
10. Oklahoma City/Norman, Okla.– University of Oklahoma (SEC, 20–13)
Norman offers a blend of suburban tranquility and cultural vibrancy, largely influenced by the University of Oklahoma. The housing market is affordable, with home values appreciating steadily, attracting both families and professionals. The city's economy is diverse, with strengths in education, research, and technology. Residents enjoy numerous parks, a thriving arts scene, and a strong sense of community, making Norman a welcoming place to call home.
11. Spartsburg, S.C. – Wofford College (Southern, 19–15)
Spartanburg is a great place to live for those who want affordability, a strong job market, and a blend of small-town charm with urban convenience. Spartanburg has mild winters, beautiful springs, warm summers, and colorful autumns. In addition to good public schools and seven colleges and universities, the city offers a diverse food scene and growing number of local breweries and cultural activities, including Chapman Cultural Center and Spartanburg Art Museum. The city has a booming job market, with BMW Manufacturing Plant and Spartanburg Regional Healthcare System as major employers. Spartanburg’s close proximity to Greenville, S.C., (30 minutes), Charlotte, N.C. (1 hour 15 minutes) and Atlanta (2.5 hours) also make it a prime location.
12. Lansing-East Lansing, Mich. – Michigan State (Big Ten, 27–6)
Home of Michigan State University, one of the largest universities in the U.S., East Lansing thrives on its vibrant college culture. In addition to being the city’s largest employer, MSU’s scenic campus and lively student life make it an exciting place. The city has a well-connected bus system and is highly walkable. Many residents bike or walk to work, school, or entertainment spots. The city offers highly rated public schools, plenty of green spaces and outdoor activities, including fishing, boating, hiking and sledding in the winter, and a mix of casual college-town eateries and trendy dining spots and breweries. The cost of living is lower than in larger Michigan cities like Ann Arbor or Grand Rapids.
13. Champaign-Urbana, Ill. – University of Illinois Urbana-Champaign (Big Ten, 21–12)
The presence of the University of Illinois Urbana-Champaign contributes to a vibrant job market and a strong local economy. The area boasts a diverse economy, with opportunities in education (University of Illinois), technology, manufacturing, healthcare, and agriculture. In addition to a mix of Midwestern hospitality and a vibrant cultural scene, it boasts multiple health care centers and providers, nationally recognized public schools, park districts, and mass transit; and ample affordable housing and a moderate cost of living.
14. Fayetteville-Springdale-Rogers, Ark. – University of Arkansas (SEC, 20–13)
Fayetteville, nestled in the Ozark Mountains, offers stunning natural beauty combined with urban amenities. The housing market has experienced growth, with home values appreciating due to increased demand. The University of Arkansas contributes to a vibrant cultural scene and a robust economy. Residents benefit from excellent schools, outdoor recreational opportunities, and a lively downtown, making Fayetteville a desirable place to live.
15. Omaha, Neb. – University of Nebraska Omaha (Summit, 22–12)
Creighton University (22-7)
Omaha is a vibrant Midwestern city known for its strong business community, live music, and diverse food scene. Omaha's affordable housing market and strong economy make it an attractive place to live. The city offers a mix of urban and suburban living, with a variety of cultural and recreational activities, including the world-famous Henry Doorly Zoo and the annual College World Series, The presence of several Fortune 500 companies, including Berkshire Hathaway, Union Pacific, Mutual of Omaha and Conagra Brands, provides ample employment opportunities, contributing to the city's steady growth.
16. Houston-Pasadena-The Woodlands, Texas – University of Houston (Big 12, 30–4)
Houston is a dynamic, diverse city known for its thriving energy sector, rich arts scene, and world-class dining. It’s home to NASA's Johnson Space Center, the Museum District, and major sports teams. With a mix of southern charm and urban sophistication, Houston offers something for everyone, from food lovers to sports enthusiasts.
Methodology
The best housing markets are beneficial for both buyers and sellers. If one has too much leverage over the other, it ceases to be a healthy housing market.
A market must also be affordable for area incomes, which obviously helps buyers, but sellers as well, since they enjoy a greater pool of potential buyers.
That’s why we sought to find the most balanced and affordable markets of the 64 college basketball tournament contenders using the following metrics and weights. A total of 54 markets were analyzed due to certain colleges sharing the same metro area and insufficient data in some markets.
[30%] Affordability: Defined as the percentage of household income needed for a full house payment including principal, interest, private mortgage insurance, property taxes, and homeowner’s insurance (Zillow, Census Bureau). See payment assumptions below.
[20%] The number of days it takes for a house to get an accepted offer as reported by Zillow. Markets that were closer to the current national average of 40 days scored higher.
[20%] The share of listings with a price cut as reported by Zillow. Metros most closely matching the U.S. average scored higher. Nationally, around 20% of listings receive a price cut.
[30%] A quality of life rank that combined data from the Census Bureau: 1) The percentage of the population with a high school diploma or higher, 2) The percentage of the population with a commute of less than 25 min (which is the U.S. average), and 3) The number of bars and restaurants per 1,000 people.
Note that the following markets were excluded due to insufficient data.
Clemson, S.C. (Clemson University)
Emmitsburg, Md. (Mount St. Mary's)
Troy, Ala. (Troy University)
Missoula, Mont. (University of Montana)
Logan, Utah (Utah State University)
Starkville, Mississippi (Mississippi State University)
Affordability Assumptions
To estimate a typical payment in a metro area, we started with the area’s average home price using the Zillow Home Value Index (ZHVI) All Homes Time Series, Smoothed, Seasonally Adjusted. We then calculated an estimated payment based on:
6.965% 30-year fixed rate, the 30-day average rate for 700 credit score over 80% LTV per Optimal Blue Mortgage Market Indices
10% down payment
0.55% annual PMI rate from mortgage insurance provider MGIC, paid monthly
0.35% annual homeowner's insurance rate monthly
1.2% annual property tax rate paid monthly
No HOA dues
We divided this full payment by the metro’s median household income from Census Bureau data to arrive at a percentage of income it might take to cover a full house payment. All payment and affordability figures are for example purposes only.
