RealtyTrac recently released its top ZIP codes for hipsters and the top 30 hipster ZIP codes for home-flipping. The company determined these areas based on five factors:
- At least 25 percent of the total population in these zip codes in 2014 were between ages 30 and 34.
- The share of the demographic increased between 2013 and 2014.
- At least 20 percent of the population in these zip codes walked or took public transportation to work in 2014.
- In 2015, at least 10 single-family homes or condos were flipped.
- Homes flipped in these ZIP codes last year yielded an average gross flipping return on investment of a minimum 50 percent.
“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,” said Daren Blomquist, SVP at RealtyTrac.
“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.”
In Chicago, multiple ZIP codes made the list:
