Current:Home > StocksCalifornia is home to the most expensive housing markets in the US: See a nationwide breakdown -TradeCove
California is home to the most expensive housing markets in the US: See a nationwide breakdown
View
Date:2025-04-18 06:13:56
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! (333)
Related
- Paula Abdul settles lawsuit with former 'So You Think You Can Dance' co
- Heather Rae El Moussa Shares Newborn Son Had Jaundice and Tongue, Cheek and Lip Ties
- 'Renfield' lacks bite
- 2 novels to cure your winter blahs: Ephron's 'Heartburn' and 'Pineapple Street'
- JoJo Siwa reflects on Candace Cameron Bure feud: 'If I saw her, I would not say hi'
- Nordstrom Rack Clear the Rack Sale: Score an $89 Sweater for 11, $6 Dresses, $3 Tops & More
- No substance, just 'Air'
- 3 new Star Wars live-action films are coming
- Small twin
- 'Succession' Season 4, Episode 2: 'Rehearsal'
Ranking
- Brianna LaPaglia Reveals The Meaning Behind Her "Chickenfry" Nickname
- 'Grand Crew' is a network comedy to sip and savor
- Serving up villains and vengeance in 'Love Is Blind' and Steven Yeun's 'Beef'
- See Pete Davidson and Chase Sui Wonders Cozy Up During Daytona 500 Date
- EU countries double down on a halt to Syrian asylum claims but will not yet send people back
- We asked to see your pet artwork — you unleashed your creativity
- Do we, in fact, all scream for 'Scream 6'?
- Inside Bruce Willis' Family Support System: How Wife Emma, His Daughters and Ex Demi Moore Make It Work
Recommendation
Costco membership growth 'robust,' even amid fee increase: What to know about earnings release
Summer House Star Mya Allen Wore This Surprisingly Affordable Bodysuit With 1,300+ 5-Star Reviews
Austin Butler Responds to Zoey 101 Sequel Movie Casting Rumors
Stranger Things' David Harbour Shares Heartfelt Reaction to Noah Schnapp's Coming Out
What do we know about the mysterious drones reported flying over New Jersey?
Lance Reddick, star of 'John Wick' and 'The Wire,' dead at 60
'Succession' Season 4, Episode 2: 'Rehearsal'
Prince Harry and Meghan Markle's Rep Slams Speculation They Plan to Sue Over South Park Episode