Half of the 10 most expensive places to buy a home in the U.S. in 2024 are in California, according to a recent study by SmartAsset.
San Jose, which sits in the middle of Silicon Valley, topped the list with a median home sale price exceeding $1.5 million in 2024 — and prices in the area went up by 12% from last year.
The study, which analyzed Zillow’s housing data of the 100 largest metro areas in 2019, 2023 and 2024 found that median home sale prices have increased this year in all of the most expensive metro areas.
Just how costly are we talking? To be able to afford a typical home in the San Jose area, you would need to make $468,252, according to the National Association of Realtors.
While the Golden State is home to some of the country’s wealthiest zip codes, it is also currently experiencing a housing shortage. What’s happening in California is a snapshot of a larger national trend, with home prices now 47% higher than they were at the beginning of 2020.
Here are the top 10 most expensive places to buy a home in the United States.
1. San Jose, California
- Median home sale price: $1,502,362
- Increase since 2023: 12.9%
- Increase since 2019: 41%
2. San Francisco
- Median home sale price: $1,132,315
- Increase since 2023: 10.8%
- Increase since 2019: 30.5%
3. Los Angeles
- Median home sale price: $925,783
- Increase since 2023: 10.6%
- Increase since 2019: 47.9%
4. San Diego
- Median home sale price: $876,056
- Increase since 2023: 9.4%
- Increase since 2019: 55.1%
5. Oxnard, California
- Median home sale price: $844,806
- Increase since 2023: 8.2%
- Increase since 2019: 43%
6. Honolulu
- Median home sale price: $696,729
- Increase since 2023: 6.6%
- Increase since 2019: 23.4%
7. Seattle
- Median home sale price: $692,195
- Increase since 2023: 10.5%
- Increase since 2019: 53%
8. Boston
- Median home sale price: $648,108
- Increase since 2023: 8.1%
- Increase since 2019: 47.9%
9. New York
- Median home sale price: $579,117
- Increase since 2023: 10.7%
- Increase since 2019: 49.2%
10. Denver
- Median home sale price: $573,090
- Increase since 2023: 3.0%
- Increase since 2019: 45.3%
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