Opportunity Zones are defined in the Tax Act legislation as census tracts in or alongside low-income neighborhoods that meet various criteria for redevelopment.
Values in markets scattered through so-called Opportunity Zones kept rising at around the same pace seen in more upscale areas, as the housing-market boom kept lifting fortunes just about everywhere,” ATTOM Chief Product Officer Todd Teta said in a release.
Home values in most Opportunity Zones again trailed well behind values in most other neighborhoods around the country in the third quarter, according to the report.
Median values also remained under $200,000 in 53 percent of Opportunity Zones in the third quarter.
Median prices of single-family houses and condominiums rose from the second to third quarter in 62 percent of Opportunity Zones with sufficient data to analyze and increased in 78 percent of the zones year-over-year.