Current:Home > ContactCalifornia is home to the most expensive housing markets in the US: See a nationwide breakdown -WealthMindset Learning
California is home to the most expensive housing markets in the US: See a nationwide breakdown
View
Date:2025-04-26 13:03:19
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! (1546)
Related
- Cincinnati Bengals quarterback Joe Burrow owns a $3 million Batmobile Tumbler
- The Best Memorial Day Bedding & Bath Deals of 2024: Shop Parachute, Brooklinen, Cozy Earth & More
- Uvalde mom pushes through 'nightmare' so others won't know loss of a child in 'Print It Black'
- Colorado is first in nation to pass legislation tackling threat of AI bias in pivotal decisions
- Kylie Jenner Shows Off Sweet Notes From Nieces Dream Kardashian & Chicago West
- From 'Atlas' to 'Dune 2,' here are 10 movies you need to stream right now
- Ex-prosecutor Marilyn Mosby sentenced in scheme using COVID funds to buy Florida condo
- Louisiana legislature approves bill to classify abortion pills as controlled substances
- Scoot flight from Singapore to Wuhan turns back after 'technical issue' detected
- Louisiana legislature approves bill to classify abortion pills as controlled substances
Ranking
- Illinois Gov. Pritzker calls for sheriff to resign after Sonya Massey shooting
- U.K. Prime Minister Rishi Sunak sets July 4 election date as his Conservative party faces cratering support
- Kevin Costner remembers meeting young Ben Affleck, Matt Damon on 'Field of Dreams' set
- Virginia Has the Biggest Data Center Market in the World. Can It Also Decarbonize Its Grid?
- Jorge Ramos reveals his final day with 'Noticiero Univision': 'It's been quite a ride'
- You'll Be Stuck On New Parents Sofia Richie and Elliot Grainge's Love Story
- See memorials in Uvalde and across Texas that honor victims of Robb Elementary shooting
- A woman took her dog to a shelter to be euthanized. A year later, the dog is up for adoption again.
Recommendation
Senate begins final push to expand Social Security benefits for millions of people
Colorado governor to sign bills regulating funeral homes after discovery of 190 rotting bodies
Special session for ensuring President Biden makes Ohio’s fall ballot could take several days
Millie Bobby Brown Marries Jake Bongiovi in Private Ceremony
Trump wants to turn the clock on daylight saving time
Wreckage of famed 'Hit 'em HARDER' submarine found in South China Sea: See video
Nepali climber smashes women's record for fastest Mount Everest ascent
Louisville police officer reprimanded for not activating body cam in Scottie Scheffler incident