Current:Home > reviewsCalifornia is home to the most expensive housing markets in the US: See a nationwide breakdown -VitalWealth Strategies
California is home to the most expensive housing markets in the US: See a nationwide breakdown
PredictIQ View
Date:2025-04-09 01:34:32
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! (2)
Related
- Paris Hilton, Nicole Richie return for an 'Encore,' reminisce about 'The Simple Life'
- No longer afraid, Rockies' Riley Pint opens up about his comeback journey: 'I want to be an inspiration'
- Illinois police identify 5 people, including 3 children, killed when school bus, semitruck collide
- Trump heading to Ohio to rally for GOP’s Bernie Moreno ahead of March 19 primary
- Who's hosting 'Saturday Night Live' tonight? Musical guest, how to watch Dec. 14 episode
- Airbnb bans indoor security cameras for all listings on the platform
- National Plant a Flower Day 2024: Celebrate by planting this flower for monarch butterflies
- Explosion destroys house in Pittsburgh area; no official word on any deaths, injuries
- Audit: California risked millions in homelessness funds due to poor anti-fraud protections
- How Does Love Is Blind’s Chelsea Feel About Trevor Now? She Says…
Ranking
- Blake Lively’s Inner Circle Shares Rare Insight on Her Life as a Mom to 4 Kids
- No, the Bengals' Joe Burrow isn't MAGA like friend Nick Bosa, but there are questions
- Avalanche forecaster dies in snowslide while skiing on Oregon mountain
- Wisconsin elections review shows recall targeting GOP leader falls short of signatures needed
- Kentucky Gov. Andy Beshear ready to campaign for Harris-Walz after losing out for spot on the ticket
- When does 'Invincible' come out? Season 2 Part 2 release date, cast, where to watch
- Lake Minnetonka just misses breaking 100-year record, ice remains after warm winter
- The Daily Money: Trader Joe's tote goes viral
Recommendation
Louisiana high court temporarily removes Judge Eboni Johnson Rose from Baton Rouge bench amid probe
Prince William Attends Thomas Kingston’s Funeral Amid Kate Middleton Photo Controversy
African American English, Black ASL are stigmatized. Experts say they deserve recognition
Married Idaho couple identified as victims of deadly Oregon small plane crash
Residents worried after ceiling cracks appear following reroofing works at Jalan Tenaga HDB blocks
Romanian court grants UK’s request to extradite Andrew Tate, once local legal cases are concluded
Man fatally shoots girlfriend and her adult daughters during a domestic incident, deputies say
Robert Hur defends special counsel report at tense House hearing on Biden documents probe