Current:Home > NewsCalifornia is home to the most expensive housing markets in the US: See a nationwide breakdown -FutureWise Finance
California is home to the most expensive housing markets in the US: See a nationwide breakdown
View
Date:2025-04-13 02:19:08
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
- 'Malcolm in the Middle’ to return with new episodes featuring Frankie Muniz
- Did Texas 'go too far' with SB4 border bill? Appeals court weighs case; injunction holds.
- Man sentenced to 37 years on hate crime charges in deadly shooting at Muslim-owned tire shop
- Cicada-geddon insect invasion will be biggest bug emergence in centuries
- Which apps offer encrypted messaging? How to switch and what to know after feds’ warning
- Katie Holmes, Jim Parsons and Zoey Deutch to star in 'Our Town' Broadway revival
- Hailey Bieber’s Photo of Justin Bieber in Bed Is Sweeter Than Peaches
- What is ghee and why has it become so popular?
- John Galliano out at Maison Margiela, capping year of fashion designer musical chairs
- MLB Misery Index: Winless New York Mets and Miami Marlins endure ugly opening week
Ranking
- 'Survivor' 47 finale, part one recap: 2 players were sent home. Who's left in the game?
- Hillary Clinton, Malala Yousafzai on producing Broadway musical Suffs
- Mother of Justin Combs shares footage of raid at Diddy's home, denounces militarized force
- LSU star Angel Reese declares for WNBA draft via Vogue photo shoot, says ‘I didn’t want to be basic’
- Former Syrian official arrested in California who oversaw prison charged with torture
- UConn men delayed in Connecticut ahead of Final Four because of plane issues
- Shohei Ohtani homers for the first time as a Dodger, gets ball back from fan
- Gilmore Girls’ Matt Czuchry Responds to Criticism About His Character Logan
Recommendation
Alex Murdaugh’s murder appeal cites biased clerk and prejudicial evidence
Black Residents Want This Company Gone, but Will Alabama’s Environmental Agency Grant It a New Permit?
GOP lawmakers are using the budget to pressure Kansas’ governor on DEI and immigration
Are whales mammals? Understanding the marine animal's taxonomy.
As Trump Enters Office, a Ripe Oil and Gas Target Appears: An Alabama National Forest
Chinese signatures on graduation certificates upset northern Virginia police chief
Oklahoma prepares to execute man for 2002 double slaying
Court filing asks judge to rule that NCAA’s remaining NIL rules violate antitrust law