Current:Home > reviewsCalifornia is home to the most expensive housing markets in the US: See a nationwide breakdown -Secure Growth Solutions
California is home to the most expensive housing markets in the US: See a nationwide breakdown
View
Date:2025-04-18 07:42:23
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! (6277)
Related
- Paige Bueckers vs. Hannah Hidalgo highlights women's basketball games to watch
- Denmark’s Queen Margrethe II to step down from throne on Jan. 14
- Three-time NASCAR champion Cale Yarborough dies at 84
- AFC playoff picture: Baltimore Ravens secure home-field advantage
- Selena Gomez engaged to Benny Blanco after 1 year together: 'Forever begins now'
- Three-time NASCAR champion Cale Yarborough dies at 84
- More Rohingya refugees arrive in Indonesia despite rejection from locals
- Kirby Smart after Georgia football's 63-3 rout of Florida State: 'They need to fix this'
- A White House order claims to end 'censorship.' What does that mean?
- What's open on New Year's Eve? Stores, restaurants and fast food places ringing in 2024 with open doors.
Ranking
- IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power
- Knicks getting OG Anunoby in trade with Raptors for RJ Barrett, Immanuel Quickley
- $20 for flipping burgers? California minimum wage increase will cost consumers – and workers.
- Feds say they won't bring second trial against Sam Bankman-Fried
- Woman dies after Singapore family of 3 gets into accident in Taiwan
- Penn State defense overwhelmed by Ole Miss tempo and ‘too many moving parts’ in Peach Bowl loss
- On New Year’s Eve, DeSantis urges crowd to defy odds and help him ‘win the Iowa caucuses’
- Are banks, post offices, UPS and FedEx open on New Year's Eve and New Year's Day?
Recommendation
North Carolina justices rule for restaurants in COVID
Biden fast-tracks work authorization for migrants who cross legally
Three-time NASCAR champion Cale Yarborough dies at 84
Man wielding 2 knives shot and wounded by Baltimore police, officials say
Paige Bueckers vs. Hannah Hidalgo highlights women's basketball games to watch
South Korea’s capital records heaviest single-day snowfall in December for 40 years
College Football Playoff semifinals could set betting records
Maurice Hines, tap-dancing icon and 'The Cotton Club' star, dies at 80