Current:Home > NewsCalifornia is home to the most expensive housing markets in the US: See a nationwide breakdown -WealthSphere Pro
California is home to the most expensive housing markets in the US: See a nationwide breakdown
View
Date:2025-04-25 23:36:17
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! (1692)
Related
- Juan Soto to be introduced by Mets at Citi Field after striking record $765 million, 15
- In ‘Godzilla x Kong: The New Empire,’ the Titans are the stars
- Aaron Taylor-Johnson says fascination with wife's 23-year age gap is 'bizarre'
- One of the last remaining Pearl Harbor attack survivors, Richard Dick Higgins, has died at 102
- Rolling Loud 2024: Lineup, how to stream the world's largest hip hop music festival
- Conor McGregor Shares Rare Comment About Family Life
- Power Five programs seeing increase of Black men's and women's basketball head coaches
- Christine Quinn's Husband Christian Dumontet Arrested Again After Violating Protective Order
- Rams vs. 49ers highlights: LA wins rainy defensive struggle in key divisional game
- Hilary Duff’s 12-Year-Old Son Luca Is All Grown Up in Sweet Birthday Tribute
Ranking
- Person accused of accosting Rep. Nancy Mace at Capitol pleads not guilty to assault charge
- 78,000 more public workers are getting student loans canceled through Biden administration changes
- Pennsylvania house fire kills man, 4 children as 3 other family members are rescued
- What is gambling addiction and how widespread is it in the US?
- Who are the most valuable sports franchises? Forbes releases new list of top 50 teams
- Kris Jenner's Niece Natalie Zettel Mourns “Sweet” Mom Karen Houghton After Her Death
- In ‘Godzilla x Kong: The New Empire,’ the Titans are the stars
- The ‘Aladdin’ stage musical turns 10 this month. Here are the magical stories of three Genies
Recommendation
From family road trips to travel woes: Americans are navigating skyrocketing holiday costs
Chipotle announces 50-for-1 stock split. Here's what investors need to know.
As Ukraine aid languishes, 15 House members work on end run to approve funds
Human remains found in 1979 in Chicago suburb identified through DNA, forensic genealogy
Head of the Federal Aviation Administration to resign, allowing Trump to pick his successor
Panel urged to move lawsuit to state court that seeks shutdown of part of aging pipeline in Michigan
Mom of Utah grief author accused of poisoning her husband also possibly involved in his death, affidavit says
Nationwide tech hiccup interferes with US driver’s license offices