Current:Home > MarketsCalifornia is home to the most expensive housing markets in the US: See a nationwide breakdown -NextGenWealth
California is home to the most expensive housing markets in the US: See a nationwide breakdown
View
Date:2025-04-12 13:55:02
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! (9477)
Related
- Don't let hackers fool you with a 'scam
- Why viral reservoirs are a prime suspect for long COVID sleuths
- Wind Industry, Riding Tax-Credit Rollercoaster, Reports Year of Growth
- Is coconut water an electrolyte boost or just empty calories?
- The Super Bowl could end in a 'three
- Edgy or insensitive? The Paralympics TikTok account sparks a debate
- Taylor Lautner Calls Out Hateful Comments Saying He Did Not Age Well
- Khloe Kardashian Shares Adorable Cousin Crew Photo With True, Dream, Chicago and Psalm
- Trump issues order to ban transgender troops from serving openly in the military
- Accidental shootings by children keep happening. How toddlers are able to fire guns.
Ranking
- Skins Game to make return to Thanksgiving week with a modern look
- Why Are Some Big Utilities Embracing Small-Scale Solar Power?
- Father's Day 2023 Gift Guide: The 11 Must-Haves for Every Kind of Dad
- Cause of Keystone Pipeline Spill Worries South Dakota Officials as Oil Flow Restarts
- Megan Fox's ex Brian Austin Green tells Machine Gun Kelly to 'grow up'
- Blake Shelton Gets in One Last Dig at Adam Levine Before Exiting The Voice
- New Samsung Galaxy devices are coming—this is your last chance to pre-order and get $50 off
- This Coastal Town Banned Tar Sands and Sparked a War with the Oil Industry
Recommendation
Skins Game to make return to Thanksgiving week with a modern look
Keystone Oil Pipeline Spills 210,000 Gallons as Nebraska Weighs XL Decision
NFL record projections 2023: Which teams will lead the way to Super Bowl 58?
Alaska’s Big Whale Mystery: Where Are the Bowheads?
As Trump Enters Office, a Ripe Oil and Gas Target Appears: An Alabama National Forest
Best Memorial Day 2023 Home Deals: Furniture, Mattresses, Air Fryers, Vacuums, Televisions, and More
Here's What Kate Middleton Said When Asked to Break Royal Rule About Autographs
Knoxville has only one Black-owned radio station. The FCC is threatening its license.