What an Increase in Heatwaves Means for the Housing Market

By 2030, most homes in the U.S. will see a few more heatwave days per year, and by 2050, more than half of all homes in the U.S. will face two or more weeks of additional heatwave days per year. According to a recent report from Cotality, homebuyers are taking these predictions into consideration when searching for a home. States that typically see cooler weather are seeing an influx of movers, but even these areas are expected to see more hot days each year.

Cold-weather regions are becoming a refuge, but heatwaves are expected to increase in these areas, too

States in the Midwest and Northeast are seeing an uptick in domestic migration. Michigan has seen its population grow every year for the last four years, and in Minnesota, 17% of movers came from out of state in 2024 and now represent 2% of the state’s total population. Even so, these states are expected to see an increase in heatwaves by 2030.

Southern states will be the most impacted by heatwaves over the next few years

While states in the Midwest and Northeast are seeing an increase of heatwaves, households in the South will likely see the greatest impact. According to the report, Florida and Texas sit at the center of heat risk in the U.S. with dozens of cities in those states having a heatwave risk score of 97 out of 100. By 2050, eight more cities in those states will join that top tier.