Current:Home > StocksCalifornia is home to the most expensive housing markets in the US: See a nationwide breakdown -Secure Growth Solutions
California is home to the most expensive housing markets in the US: See a nationwide breakdown
View
Date:2025-04-27 19:21:00
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! (524)
Related
- Your Wedding Guests Will Thank You if You Get Married at These All-Inclusive Resorts
- NYC college suspends officer who told pro-Palestinian protester ‘I support killing all you guys’
- 6 killed in Idaho crash were agricultural workers from Mexico, officials say
- Charles Barkley says 'morale sucks' as 'Inside the NBA' remains in limbo for TNT
- North Carolina justices rule for restaurants in COVID
- Charles Barkley says 'morale sucks' as 'Inside the NBA' remains in limbo for TNT
- The Boucle Furniture Trend Is Taking Over the Internet: Here's How to Style It in Your Home
- Biden campaign releases ad slamming Trump on gun control 2 years after Uvalde school shooting
- John Galliano out at Maison Margiela, capping year of fashion designer musical chairs
- Caitlin Clark makes LA debut: How to watch Indiana Fever vs. Los Angeles Sparks on Friday
Ranking
- Olympic disqualification of gold medal hopeful exposes 'dark side' of women's wrestling
- NOAA 2024 Hurricane Forecast Is for More Storms Than Ever Before
- Ravens, still bitter over AFC title-game loss vs. Chiefs, will let it fuel 2024 season
- Ex-prosecutor Marilyn Mosby sentenced in scheme using COVID funds to buy Florida condo
- How breaking emerged from battles in the burning Bronx to the Paris Olympics stage
- A British neonatal nurse convicted of killing 7 babies loses her bid to appeal
- Rapper Sean Kingston and his mother stole more than $1 million through fraud, authorities say
- The Truth About Travis Scott and Alexander A.E. Edwards' Cannes Physical Altercation
Recommendation
Who's hosting 'Saturday Night Live' tonight? Musical guest, how to watch Dec. 14 episode
The Shiba Inu that became meme famous as the face of dogecoin has died. Kabosu was 18
Voting rights advocates ask federal judge to toss Ohio voting restrictions they say violate ADA
Morgan Spurlock, documentary filmmaker behind Super Size Me, dies of cancer at 53
Person accused of accosting Rep. Nancy Mace at Capitol pleads not guilty to assault charge
Nepali climber smashes women's record for fastest Mount Everest ascent
You'll Be Stuck On New Parents Sofia Richie and Elliot Grainge's Love Story
Despite surging demand for long-term care, providers struggle to find workers