Current:Home > ScamsCalifornia is home to the most expensive housing markets in the US: See a nationwide breakdown -Trailblazer Capital Learning
California is home to the most expensive housing markets in the US: See a nationwide breakdown
View
Date:2025-04-26 05:09:52
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! (9)
Related
- Mets have visions of grandeur, and a dynasty, with Juan Soto as major catalyst
- Christine Quinn's Husband Christian Dumontet Files for Divorce Following His Arrests
- Mercedes workers at an Alabama plant call for union representation vote
- March Madness: How to watch the women’s Final Four and what to watch for in the NCAA Tournament
- Cincinnati Bengals quarterback Joe Burrow owns a $3 million Batmobile Tumbler
- Fact-checking 'Scoop': The true story behind Prince Andrew's disastrous BBC interview
- Christian Combs, Diddy's son, accused of sexual assault in new lawsuit: Reports
- P&G recalls 8.2 million bags of Tide, Gain and other laundry detergents over packaging defect
- Could Bill Belichick, Robert Kraft reunite? Maybe in Pro Football Hall of Fame's 2026 class
- Angelina Jolie claims ex Brad Pitt had 'history of physical abuse' in new court filing
Ranking
- Paula Abdul settles lawsuit with former 'So You Think You Can Dance' co
- Texas Gov. Greg Abbott appears at Republican gala in NYC, faces criticism over migrant crisis
- 'Game of Thrones' star Joseph Gatt files $40M lawsuit against Los Angeles officials for arrest
- NC State's Final Four men's team is no normal double-digit seed. Don't underestimate them
- 'Most Whopper
- More than 500 New Yorkers set to be considered as jurors in Trump's hush money trial
- Everything to know about 2024 women's basketball NCAA Tournament championship game
- GA judge rejects Trump's attempt to dismiss charges | The Excerpt
Recommendation
North Carolina trustees approve Bill Belichick’s deal ahead of introductory news conference
Pete Townshend on the return of Tommy to Broadway
Farmworker who survived mass shooting at Northern California mushroom farm sues company and owner
Storms, floods cause 1 death, knock down tombstones at West Virginia cemetery
South Korean president's party divided over defiant martial law speech
Reese Witherspoon to revive 'Legally Blonde' in Amazon Prime Video series
WWE women's division has a big WrestleMania 40, but its 'best is yet to come'
When will solar eclipse reach your town? These maps show path's timing, how long it lasts.