Come all ye Hipsters — and buy our unwanted houses! Foreclosure listing site RealtyTrac has released a new ranking of the country's top 20 places for flipping homes to "hipsters," a term used in this (mildly offensive?) instance to refer to all 25- to 34-year-olds. Naturally, ATL made the cut, what with its Vespa fleets and rampant jorts. The methodology is slightly more complex, but the basic idea is to find the best cities where one could buy a foreclosed home and make the most profit flippin' it to a youngster. Atlanta came in at No. 19.
The most interesting takeaways from RealtyTrac's little project are the individual stats. Of the top 20 cities — which include Vegas, Chicago, Denver and four different places in Cali — Atlanta came in with the highest percentage of "hipsters" at 21.8 percent. That means one in five ATLiens meets their definition (and the U.S. Census Bureau's definition) of hipsterdom. Probably true. And probably good.
At 41, the number of single-family foreclosed homes flipped in 2013 was also the most. (Yes, that seems low). Despite that, ATL Hipster Flippers made an average of $36,125 per flip last year, good for the chart's lowest profit percentage at 35 percent.
In case you were wondering, this is what hipsters like, according to RealtyTrac: Glossy, modern homes reconstructed from rundown bungalows, with living space "toward the rear of the house to allow an indoor-outdoor connection." Sounds great, but they forgot the extra room for scarf collections, obscure vinyl recordings, mustache ointments and spare mophed parts.
— By Curbed Atlanta contributor Tyler Estep
· Top 20 Zip Codes for Flipping to Hipsters [RealtyTrac]
[ABOVE: Photo via Etsy.com]
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