These 30 hipster havens offer the best return on investment for home flippers as determined by analyzing data based on five common criteria.
Hipsters are an interesting breed. For example, before hipsters, chances are you never knew clothes could be worn ironically or that a Whole Foods grand opening was something to be celebrated like the second coming of the Beatles. If all the world’s a stage, and all the men and women merely players, then hipsters are the method actors, focusing more on their role and image than just about anyone else.
It makes sense, then, that this role needs to bleed over from how hipsters live, to where hipsters live. Hipsters have very particular tastes, and will pay as much as they possibly can to make sure all of those tastes are satiated. RealtyTrac decided to take a look at over 15,000 zip codes from around the country to find the top 30 hipster zip codes for flipping.
The zip codes met five different criteria that labeled them not only as being hot spots for hipsters, but also has being highly profitable for home flippers. Having at least 10 homes flipped during the year, an average gross flipping return of at least 50 percent, at least 25 percent of the population aged 20 to 34, an increase in population from 2013 to 2014, and at least 20 percent of the population that walks or uses public transportation to get to work were all things that were taken into consideration when analyzing the zip codes. After the top 30 zip codes were selected, they were then ranked on their percentage of people aged 20 to 34.
Number one on the list was the 55408 zip code of Minneapolis, Minn. with a flipping gross ROI of 72.4 percent, 46.1 percent of the population between the ages of 20 and 34, and 21.8 percent of the population that walks or uses public transportation to get to work.
Philadelphia had five zip codes on the list and Chicago had three. Pennsylvania had the most zip codes for a state with nine.
The problem with this list is that now that hipsters can see the most popular and profitable zip codes, they will no longer want to buy a home there because it is far too mainstream. No self-respecting hipster would be caught dead living somewhere that made a top 30 list, unless, of course, they are living there ironically.