Current:Home > MarketsCalifornia is home to the most expensive housing markets in the US: See a nationwide breakdown -AssetBase
California is home to the most expensive housing markets in the US: See a nationwide breakdown
View
Date:2025-04-18 05:38:16
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! (42)
Related
- Taylor Swift makes surprise visit to Kansas City children’s hospital
- Naomi Campbell Shades “Other Lady” Anna Wintour in Award Speech
- Some imprisoned in Mississippi remain jailed long after parole eligibility
- Atlantic City casino workers plan ad blitz to ban smoking after court rejects ban
- Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Triathlon
- Variety of hunting supplies to be eligible during Louisiana’s Second Amendment sales tax holiday
- Ellen Degeneres announces 'last comedy special of her career' on Netflix
- 2 Phoenix officers shot, 1 in critical condition, police say; suspect in custody
- Krispy Kreme offers a free dozen Grinch green doughnuts: When to get the deal
- USC winning the Big Ten, Notre Dame in playoff lead Week 1 college football overreactions
Ranking
- Paula Abdul settles lawsuit with former 'So You Think You Can Dance' co
- Origins of the Jeep: The birthing of an off-road legend
- A man charged with killing 4 people on a Chicago-area L train is due in court
- New York man gets 13 months in prison for thousands of harassing calls to Congress
- Meta releases AI model to enhance Metaverse experience
- Horoscopes Today, September 2, 2024
- USC winning the Big Ten, Notre Dame in playoff lead Week 1 college football overreactions
- Justin Theroux Shares Ex Jennifer Aniston Is Still Very Dear to Him Amid Nicole Brydon Bloom Engagement
Recommendation
What do we know about the mysterious drones reported flying over New Jersey?
Zendaya and Tom Holland Are the Perfect Match During Lowkey Los Angeles Outing
A man charged with killing 4 people on a Chicago-area L train is due in court
US wheelchair basketball team blows out France, advances to semis
What do we know about the mysterious drones reported flying over New Jersey?
Lip Markers 101: Why They’re Trending, What Makes Them Essential & the Best Prices as Low as $8
Mia Farrow says she 'completely' understands if actors work with Woody Allen
Donald Trump's campaign prohibited from using Isaac Hayes song after lawsuit threat