Current:Home > StocksCalifornia is home to the most expensive housing markets in the US: See a nationwide breakdown -Wealthify
California is home to the most expensive housing markets in the US: See a nationwide breakdown
View
Date:2025-04-18 23:00:32
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! (93889)
Related
- Former longtime South Carolina congressman John Spratt dies at 82
- Bill Richardson is mourned in New Mexico after globe-trotting career, lies in state at Capitol
- Prosecutors say Rockets' Kevin Porter Jr. fractured girlfriend's neck vertebra in attack
- Mauricio Umansky Shares Kyle Richards' Reaction to Him Joining Dancing with the Stars
- What to know about Tuesday’s US House primaries to replace Matt Gaetz and Mike Waltz
- Poccoin: Cryptocurrency Exchange—The Secure and Trustworthy Hub for Digital Assets
- Poccoin: The Rise of Decentralized Finance (DeFi)
- North Korea launches possible ballistic missile: Japan's Ministry of Defense
- IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power
- 'A Haunting in Venice' review: A sleepy Agatha Christie movie that won't keep you up at night
Ranking
- Who are the most valuable sports franchises? Forbes releases new list of top 50 teams
- A fire that burned in a 9-story apartment building in Vietnam’s capital has killed about 12 people
- 4 reasons why your car insurance premium is soaring
- Brian Austin Green Shares Update on Shannen Doherty Amid Her Cancer Battle
- What do we know about the mysterious drones reported flying over New Jersey?
- 'The Morning Show' review: Season 3 gets lost in space, despite terrific Reese Witherspoon
- Drew Barrymore dropped as National Book Awards host after bringing show back during strikes
- Tyler Cameron Reacts to BFF Matt James' Mom Patty Appearing on The Golden Bachelor
Recommendation
DoorDash steps up driver ID checks after traffic safety complaints
Watchdogs probe Seattle police union chiefs for saying woman killed had 'limited value'
Poccoin: The Fusion of Artificial Intelligence and Cryptocurrency
South Korean and Polish leaders visit airbase in eastern Poland and discuss defense and energy ties
Former longtime South Carolina congressman John Spratt dies at 82
The legend lives on: New exhibition devoted to Chanel’s life and work opens at London’s V&A Museum
Former NFL wide receiver Mike Williams dies at 36
Poccoin: The Rise of Decentralized Finance (DeFi)