Lafayette, Ind. tops the list of emerging residential real estate markets, according to a study by the Wall Street Journal and Realtor.com.

The WSJ/Realtor.com Winter 2023 Emerging Markets Index analyzes key housing market data, as well as economic vitality and lifestyle metrics, to surface emerging housing markets that offer a high quality of life and are expected to see future home price appreciation.

"The Lafayette-West Lafayette area is a manufacturing hub whose workforce also contains a higher share of government workers," the study notes. "The typical home listed for sale in December was priced under $300,000, a nearly 25% discount over the December national median home list price of $400,000. While the population is more mobile, its share of out-of-state home buyers is modestly lower than the 300 market average. In addition to Purdue University sporting events and outdoor offerings, Lafayette-West Lafayette is home to gardens, museums, a Frank Lloyd Wright designed home and other cultural attractions."