As home prices continue to rise, some experts have called the housing market the least affordable in recent memory. From January 2023 to December 2024, the median sale price for an existing home increased 5.1%.
Homes are a large investment, and their prices can be used as a proxy for household wealth, according to the Washington state office of financial management. For the roughly two-thirds of Americans who do own homes, location is a major determinate of their home’s value.
See how much homes are valued in your county
County level data from the the American Community Survey show median home prices from across the country. These prices in the middle of each market offer a way to compare how each market differs.
The annual median sales price last year for existing homes in the U.S. was $389,800, according to data from the National Association of Realtors. Here’s how each county compares:
What are the most expensive housing markets in the US?
California was home to the most expensive county in the country: Santa Clara County which has a median price of $1.58 million. Four of the top five most expensive counties in the country were in California.
Nantucket County, Massachusetts, rounds out the top five counties with the highest median home prices:
- Santa Clara County: $1.58 million
- San Mateo County, California: $1,57 million
- Marin County, California: $1.45 million
- San Francisco County, California: $1.33 million
- Nantucket County: $1.31 million
Last year, the California Community Poll found that 4 in 10 Californians were considering moving out of state. Many said it’s too expensive to live there. That’s true for other Californians, too. A majority in the poll said they love living in the state, but increasing costs of living has been the main reason some have moved.
Texas leads the way with the most counties
Texas was home to the most counties below the median: 245 counties fall below the the national median sales price of $389,800. Of course, Texas is the second largest state with many counties. That said, three of the cheapest counties in the country are in Texas. Only eight are above the median, and none rose above above $530,000.
The following counties have the lowest median home values in the U.S.:
- Todd County, South Dakota: $42,940
- Cochran County, Texas: $50,140
- McDowell County, West Virginia: $50,960
- Cottle County, Texas: $53,690
- Stonewall County, Texas: $57,140
How median home prices look across the country
Home prices in the majority were below the median sales price of $389,800. Of the 3,112 counties studied, 2,834 fall below the median, and 278 are above.
How US counties breakdown by price ranges
Three states had the most counties above the median sales price of $389,800: California, 37 counties, Colorado, 29, and Virginia, 26.
Most expensive and least expensive county by state
The price of homes can vary widely in each state. The median home value in New York City was 10 times more expensive than the median home price in Allegany County − the most affordable county in New York State. In Falls Church, Virginia, the median home price was 11 times more expensive than in Covington City, Virginia. Here are each state’s most-and least-expensive counties based on median home prices:
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.
Contributing: Javier Zarracina, USA TODAY
