According to a report by ATTOM Data Solutions, which analyzed qualified opportunity areas established by the US Congress in the Tax Cuts and Jobs Act of 2017, it was found that approximately 80 percent of those areas were below average. The national figure of $ 266,000 and that half had less than $ 150,000.

The report further compared Opportunity Areas to be found in the regions where they are less than 50 percent of the typical value in the Metropolitan Statistical Areas where they exist.

"Opportunity Zones are among the poorest areas of the country," said Todd Teta, chief product officer with ATTOM. Data Solutions. "But the differences between these and other areas of the world are the most important factors in the growth of the economy."

High-level findings from the report include:

With the highest percentage of census tracts Opportunity Zone requirements include Wyoming (17 percent), Mississippi (15 percent), Alabama (13 percent), North Dakota (12 percent), and New Mexico (12 percent). Washington, DC, is also among the leaders (14 percent). Nationwide, 10 percent of all leaflets qualify.

Among the 3,073 Opportunity Zones with sufficient data to analyze, California has the most, with 374, followed by Florida (317), Texas (164), Pennsylvania (154), North Carolina (145) and Tennessee (138).

Of the tracts analyzed, 47 percent had a median price in Q2 2019 of less than $ 150,000. The median ranged from $ 150,000 to $ 199,999 in 17 percent, from $ 200,000 up to the national median of $ 266,000 in 16 percent and more than $ 266,000 in 19 percent.

Within Opportunity Zones, 86 percent had median Q2 2019 sales prices that were less than the median sales price for the surrounding Metropolitan Statistical Area. Roughly 26 percent had less than half the figure for the MSA. Only 14 percent had median sales prices that were equal to or above the MSA.

MSA figures included Alabama (55 percent), Pennsylvania (53 percent), Illinois (51 percent), Ohio (47 percent), and Georgia (45 percent). Washington (1 percent), Nevada (3 percent), Oregon (4 percent) Colorado (4 percent) and Indiana (4 percent)

Regionally, the Midwest had the highest rate of $ 150,000 (73 percent), followed by the South (57 percent), the Northeast (53 percent) and the West (13 percent).

The Midwest also had the highest percentage of MSAs (89 percent), followed by the Northeast (87 percent), the South (85 percent) and the West (85 percent).

In addition, the report found that among Q2 2019 medians of $ 400,000 or more. They included areas of King County, WA; Denver County, CO; Coconino County, AZ; Deschutes County, OR and Alameda and Contra Costa counties in California.

At the opposite end, 50 areas had Q2 2019 medians of less than $ 50,000. They included areas of Philadelphia, PA; Baltimore, MD; Montgomery, AL; Duval County, FL and Jefferson County, AL.

Source by World Property Journal.