Current:Home > reviewsCalifornia is home to the most expensive housing markets in the US: See a nationwide breakdown -Ascend Finance Compass
California is home to the most expensive housing markets in the US: See a nationwide breakdown
View
Date:2025-04-18 22:03:08
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! (521)
Related
- The FBI should have done more to collect intelligence before the Capitol riot, watchdog finds
- Former Bengals LB Vontaze Burfict says he only hit late against Steelers
- Aston Barrett, bassist for Bob Marley & The Wailers, dies at 77
- Denver shooting injures at least 6 people, police say
- Travis Hunter, the 2
- At least 46 were killed in Chile as forest fires move into densely populated areas
- Kandi Burruss Leaving The Real Housewives of Atlanta After 14 Seasons
- Policy Experts Say the UN Climate Talks Need Reform, but Change Would be Difficult in the Current Political Landscape
- A South Texas lawmaker’s 15
- Biden projected to win South Carolina's 2024 Democratic primary. Here's what to know.
Ranking
- Appeals court scraps Nasdaq boardroom diversity rules in latest DEI setback
- The 2024 Grammy Awards are here. Taylor Swift, others poised for major wins: Live updates
- Another ‘Pineapple Express’ storm is expected to wallop California
- Man sentenced to life without parole in 1991 slaying of woman
- Meta donates $1 million to Trump’s inauguration fund
- Spoilers! What that 'Argylle' post-credits scene teases about future spy movies
- Maluma Reveals the Fatherhood Advice He Got From Marc Anthony
- Another ‘Pineapple Express’ storm is expected to wallop California
Recommendation
San Francisco names street for Associated Press photographer who captured the iconic Iwo Jima photo
U.S. begins strikes to retaliate for drone attack that killed 3 American soldiers
Carl Weathers' 5 greatest roles, from 'Rocky' and 'Predator' to 'The Mandalorian'
At least 46 were killed in Chile as forest fires move into densely populated areas
Intellectuals vs. The Internet
Scoring record in sight, Caitlin Clark does it all as Iowa women's basketball moves to 21-2
Country star Brandy Clark on finding her musical soulmate and her 6 Grammy nominations
The 2024 Grammy Awards are here. Taylor Swift, others poised for major wins: Live updates