Current:Home > MyCalifornia is home to the most expensive housing markets in the US: See a nationwide breakdown -Capitatum
California is home to the most expensive housing markets in the US: See a nationwide breakdown
SignalHub Quantitative Think Tank Center View
Date:2025-04-06 23:44:14
California is one of the largest and most populous states in the U.S. – it's also one of the most expensive places to live. According to data from the Census Bureau's American Communities Survey, the median monthly mortgage cost in California is $2,673. It's not just housing that adds up – health care, taxes, food and transportation all contribute to California's growing cost of living.
California has one of the most pricey housing markets in country
Last year, the California Community Poll found that 4 in 10 Californians were considering moving out of state, with the majority saying it’s too expensive to live there. Although the poll found a majority of Californians love living in the state, increasing costs of living is the main driver for people moving.
About 64% of counties in the Golden State having median homes values above the national median of $389,800. Four of the top five most expensive U.S. counties by median housing price were located in California.
County level data of housing statistics from the the American Community Survey shows how much homes are valued at across California.
Outside of California, Massachusetts rounds out the top five counties with the highest median home prices:
- Santa Clara County, CA: $1,583,130
- San Mateo County, CA: $1,573,470
- Marin County, CA: $1,454,450
- San Francisco County, CA: $1,332,660
- Nantucket County, MA: $1,313,450
Logan Mohtashami, lead analyst for HousingWire, a trade publication for mortgage, real estate, and housing professionals told USA TODAY that California has been ineffective in lowering the cost of living because not enough homes are being built. That means there is more demand for homes than supply.
Mohtashami called the housing market unhealthy, " We still have too many people chasing too few homes” he said. “California is going to be a tug of war. Can they keep enough people here? Or do more people just keep moving away?”
Cost of living:Nearly half of California residents are considering leaving the state, a poll finds.
California to Texas:A move from California to Texas could save a million dollars. Many Americans are opting in
See how much homes are valued in your county
For the roughly two-thirds of Americans who do own homes, location is a major determinate of their home's value. Home ownership is a major financial asset to many households and knowing the worth of a home can help families decide to buy or sell.
See the median value of homes in each U.S. county:
How was the data collected?
The National Association of Realtors analyzed data from the Census Bureau's American Community Survey of median housing prices for 3,112 counties and county equivalents across the U.S. Home values reflect the overall worth of all homes in a given area rather than solely home sales data, according to the association.
The median home value by county is a less biased statistic than the mean or average price. Median is not as heavily influenced by a small number of highly priced homes and is a more accurate representation of housing prices across the U.S.
Itzel Luna contributed to this reporting
veryGood! (9)
Related
- Spooky or not? Some Choa Chu Kang residents say community garden resembles cemetery
- NFL Week 9 winners, losers: Joe Flacco shows Colts botched QB call
- Abortion is on the ballot in nine states and motivating voters across the US
- US agency ends investigation into Ford engine failures after recall and warranty extension
- EU countries double down on a halt to Syrian asylum claims but will not yet send people back
- Vanessa Hudgens Shares Glimpse Into Life After Welcoming First Baby With Cole Tucker
- Wisconsin voters to decide legislative control and noncitizen voting question
- Control of Congress may come down to a handful of House races in New York
- Cincinnati Bengals quarterback Joe Burrow owns a $3 million Batmobile Tumbler
- After surprising start, Broncos show they're still far from joining AFC's contender class
Ranking
- Buckingham Palace staff under investigation for 'bar brawl'
- The Best Christmas Tree Candles to Capture the Aroma of Fresh-Cut Pine
- MVP repeat? Ravens QB Lamar Jackson separating from NFL field yet again
- DWTS' Gleb Savchenko Admits to Ending Brooks Nader Romance Over Text
- Brianna LaPaglia Reveals The Meaning Behind Her "Chickenfry" Nickname
- Horoscopes Today, November 3, 2024
- Ethan Slater Says Ariana Grande Is “Amazing” for This Specific Reason
- Why Pamela Anderson Decided to Leave Hollywood and Move to Canada
Recommendation
South Korean president's party divided over defiant martial law speech
Early Week 10 fantasy football rankings: 30 risers and fallers
Southern Taurid meteor shower hits peak activity this week: When and where to watch
Opinion: Harris' 'SNL' appearance likely violated FCC rules. There's nothing funny about it.
The White House is cracking down on overdraft fees
Pennsylvania election officials weighing in on challenges to 4,300 mail ballot applications
TikToker Bella Bradford, 24, Announces Her Own Death in Final Video After Battle With Rare Cancer
Ice-T, Michael Caine pay tribute to Quincy Jones