While the definition of hipster continues to evolve — with hipsters always one step ahead of those who try to define them — there remains at least one incontrovertible truth as it relates to the real estate needs of this particular tribe: they need a place to live.
But 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. 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.
RealtyTrac identified the top 30 hipster zip codes nationwide for profitable home flipping based on average flipping returns along with demographic data from the U.S. Census. All 30 of these zip codes met five criteria that brand them not only as hipster hot spots but also as highly profitable for home flipping (see criteria list below). RealtyTrac ranked the zip codes based on the share of the population aged 20 to 34 in 2014.
Slideshow of Potential and Finished Home Flips in Hipster Zips
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RealtyTrac® is the leading provider of comprehensive housing data and analytics for the real estate and financial services industries, Federal, state and local governments, academic institutions, and the media. Data is aggregated from parcel-level records of more than 125 million U.S. residential and commercial properties and delivered through customizable products including bulk file licensing, APIs and custom reports.