Current:Home > ContactCalifornia is home to the most expensive housing markets in the US: See a nationwide breakdown -FundSphere
California is home to the most expensive housing markets in the US: See a nationwide breakdown
View
Date:2025-04-17 10:33:11
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! (5928)
Related
- Vance jokes he’s checking out his future VP plane while overlapping with Harris at Wisconsin airport
- Tai chi reduces blood pressure better than aerobic exercise, study finds
- Lottery, casino bill heads to first test in Alabama Legislature
- Robert Plant & Alison Krauss announce co-headlining tour: Here's how to get tickets
- Big Lots store closures could exceed 300 nationwide, discount chain reveals in filing
- Mystery ship capsizes in Trinidad and Tobago, triggering massive oil spill and national emergency
- Dolly Parton says to forgive singer Elle King after Grand Ole Opry performance
- Stock Up on Outdoor Winter Essentials with These Amazing Deals from Sorel, North Face, REI & More
- Justice Department, Louisville reach deal after probe prompted by Breonna Taylor killing
- Pond hockey in New Hampshire brightens winter for hundreds. But climate change threatens the sport
Ranking
- Where will Elmo go? HBO moves away from 'Sesame Street'
- Mental health emerges as a dividing line in abortion rights initiatives planned for state ballots
- Married 71 years, he still remembers the moment she walked through the door: A love story
- When is Shane Gillis hosting 'SNL'? What to know about comedian's return after 2019 firing
- Costco membership growth 'robust,' even amid fee increase: What to know about earnings release
- 3 deputies arrested after making hoax phone calls about dead bodies, warrants say
- Kelsea Ballerini Reveals Her and Chase Stokes’ Unexpected Valentine’s Day Plans
- Snowiest day in 2 years brings selfies and snowmen to New York City’s Central Park
Recommendation
Macy's says employee who allegedly hid $150 million in expenses had no major 'impact'
A dance about gun violence is touring nationally with Alvin Ailey's company
Stock Up on Outdoor Winter Essentials with These Amazing Deals from Sorel, North Face, REI & More
Monty Python's Eric Idle says he's still working at 80 for financial reasons: Not easy at this age
$1 Frostys: Wendy's celebrates end of summer with sweet deal
Second new Georgia reactor begins splitting atoms in key step to making electricity
Police investigate altercation in Maine in which deputy was shot and residence caught fire
A's new primary play-by-play voice is Jenny Cavnar, first woman with that job in MLB history