Current:Home > StocksCalifornia is home to the most expensive housing markets in the US: See a nationwide breakdown -Stellar Financial Insights
California is home to the most expensive housing markets in the US: See a nationwide breakdown
View
Date:2025-04-19 02:21:23
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! (2591)
Related
- Meta donates $1 million to Trump’s inauguration fund
- Ghana’s parliament passed an anti-LGBTQ+ bill that could imprison people for more than a decade
- Baby pig that was tossed like a football is adopted and pardoned at Louisiana Capitol
- Mississippi ex-governor expected stake in firm that got welfare money, says woman convicted in fraud
- In ‘Nickel Boys,’ striving for a new way to see
- Police find bodies of former TV reporter Jesse Baird and partner Luke Davies after alleged killer tells investigators where to look
- A Washington woman forgot about her lottery ticket for months. Then she won big.
- Taylor Swift and Travis Kelce’s Romance Timeline Has New Detail Revealed
- Macy's says employee who allegedly hid $150 million in expenses had no major 'impact'
- Man gets life in prison after pleading guilty in the sexual assaults of 4 women in their Texas homes
Ranking
- How to watch new prequel series 'Dexter: Original Sin': Premiere date, cast, streaming
- Here's how much money you need to be a part of the 1%
- Wildfires in Texas continue to sweep across the panhandle: See map of devastation
- How genetically modified pigs could end the shortage of organs for transplants
- New data highlights 'achievement gap' for students in the US
- Small business owners report growing optimism about the U.S. economy
- Taylor Swift and Travis Kelce’s Romance Timeline Has New Detail Revealed
- Judge orders Trump off Illinois primary ballot but puts ruling on hold
Recommendation
Charges tied to China weigh on GM in Q4, but profit and revenue top expectations
The Best Ways to Sanitize All of Your Beauty Tools: Brushes, Tweezers, Jade Roller, NuFACE Device & More
'The Crow' movie reboot unveils first look at Bill Skarsgård in Brandon Lee role
Bill allowing permitless concealed carry in Louisiana heads to the governor’s desk for signature
A South Texas lawmaker’s 15
Why Taylor Swift, Ariana Grande and More Weren't Available to Appear in Jennifer Lopez's Movie
What is leap day? Is 2024 a leap year? Everything you need to know about Feb. 29
Judge rejects settlement aimed at ensuring lawyers for low-income defendants