Current:Home > ContactCalifornia is home to the most expensive housing markets in the US: See a nationwide breakdown -Core Financial Strategies
California is home to the most expensive housing markets in the US: See a nationwide breakdown
View
Date:2025-04-19 12:24:06
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! (47865)
Related
- Toyota to invest $922 million to build a new paint facility at its Kentucky complex
- Leader of Spain’s conservative tries to form government and slams alleged amnesty talks for Catalans
- 8 people sent to the hospital after JetBlue flight to Florida experiences severe turbulence
- Copycat Joe? Trump plans visit with Michigan UAW workers, Biden scrambles to do the same.
- Intel's stock did something it hasn't done since 2022
- European court rules Turkish teacher’s rights were violated by conviction based on phone app use
- Why Maryland Is Struggling to Meet Its Own Aggressive Climate Goals
- Why Maryland Is Struggling to Meet Its Own Aggressive Climate Goals
- Who's hosting 'Saturday Night Live' tonight? Musical guest, how to watch Dec. 14 episode
- Brian Austin Green Shares Insight on “Strong” Tori Spelling’s Future
Ranking
- 'Vanderpump Rules' star DJ James Kennedy arrested on domestic violence charges
- North Carolina splits insurance commissioner’s job from state fire marshal’s responsibilities
- Missouri’s GOP attorney general sues school for closed-door debate on transgender bathroom use
- Messi Mania has grabbed hold in Major League Soccer, but will it be a long-lasting boost?
- Bodycam footage shows high
- Police fatally shoot man in Indianapolis after pursuit as part of operation to get guns off streets
- September harvest moon: Thursday's full moon will be final supermoon of 2023
- Judge rules Donald Trump defrauded banks, insurers as he built real estate empire
Recommendation
Nevada attorney general revives 2020 fake electors case
Alexandra Grant Shares Rare Insight Into Relationship with Keanu Reeves
A woman died after falling from a cliff at a Blue Ridge Parkway scenic overlook in North Carolina
From secretaries to secretary of state, Biden documents probe casts wide net: Sources
Behind on your annual reading goal? Books under 200 pages to read before 2024 ends
How Ariana Grande's Inner Circle Feels About Ethan Slater Romance
Florida to seek death penalty against man accused of murdering Lyft driver
There's a good chance you're not planning for retirement correctly. Here's why.