Current:Home > ContactCalifornia is home to the most expensive housing markets in the US: See a nationwide breakdown -WealthTrack
California is home to the most expensive housing markets in the US: See a nationwide breakdown
View
Date:2025-04-16 09:57:37
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! (21)
Related
- Woman dies after Singapore family of 3 gets into accident in Taiwan
- California researchers discover mysterious, gelatinous new sea slug
- Volunteer firefighter accused of setting brush fire on Long Island
- Jessica Simpson's Husband Eric Johnson Steps Out Ringless Amid Split Speculation
- Former Syrian official arrested in California who oversaw prison charged with torture
- NBPA reaches Kyle Singler’s family after cryptic Instagram video draws concern
- Cold case arrest: Florida man being held in decades-old Massachusetts double murder
- Artem Chigvintsev Returns to Dancing With the Stars Ballroom Amid Nikki Garcia Divorce
- Retirement planning: 3 crucial moves everyone should make before 2025
- Georgia State University is planning a $107M remake of downtown Atlanta
Ranking
- Tarte Shape Tape Concealer Sells Once Every 4 Seconds: Get 50% Off Before It's Gone
- Vogue Model Dynus Saxon Charged With Murder After Stabbing Attack
- Ryan Reynolds Makes Dream Come True for 9-Year-Old Fan Battling Cancer
- Prominent conservative lawyer Ted Olson, who argued Bush recount and same-sex marriage cases, dies
- Hackers hit Rhode Island benefits system in major cyberattack. Personal data could be released soon
- Jason Statham Shares Rare Family Photos of Rosie Huntington-Whiteley and Their Kids on Vacation
- PSA: Coach Outlet Has Stocking Stuffers, Gifts Under $100 & More for the Holidays RN (up to 60% Off)
- Jessica Simpson's Husband Eric Johnson Steps Out Ringless Amid Split Speculation
Recommendation
'Survivor' 47 finale, part one recap: 2 players were sent home. Who's left in the game?
Missouri prosecutor says he won’t charge Nelly after an August drug arrest
US Congress hopes to 'pull back the curtain' on UFOs in latest hearing: How to watch
Noem’s Cabinet appointment will make a plain-spoken rancher South Dakota’s new governor
Why members of two of EPA's influential science advisory committees were let go
Patrick Mahomes Breaks Silence on Frustrating Robbery Amid Ongoing Investigation
Caitlin Clark's gold Nike golf shoes turn heads at The Annika LPGA pro-am
Georgia State University is planning a $107M remake of downtown Atlanta