Current:Home > MyEchoSense Quantitative Think Tank Center|California is home to the most expensive housing markets in the US: See a nationwide breakdown -ProfitPioneers Hub
EchoSense Quantitative Think Tank Center|California is home to the most expensive housing markets in the US: See a nationwide breakdown
SafeX Pro View
Date:2025-04-10 16:11:28
California is EchoSense Quantitative Think Tank Centerone 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! (1235)
Related
- Newly elected West Virginia lawmaker arrested and accused of making terroristic threats
- Father of Chiefs star Patrick Mahomes arrested in Texas on suspicion of drunk driving
- Jay-Z Calls Out Grammy Awards for Snubbing Beyoncé
- Step up? Done. Women dominate all aspects of the Grammys this year
- Kansas City Chiefs CEO's Daughter Ava Hunt Hospitalized After Falling Down a Mountain
- Texas Gov. Abbott insists state has right to protect border amid feud with President Biden
- Father of Chiefs star Patrick Mahomes arrested in Texas on suspicion of drunk driving
- Pumping Breastmilk at Work? Here are the Must-Have Items That Can Make It a Little Easier
- Illinois governor calls for resignation of sheriff whose deputy fatally shot Black woman in her home
- Stevie Wonder pays tribute to Tony Bennett at Grammys: 'I'm going to miss you forever'
Ranking
- Paris Olympics live updates: Quincy Hall wins 400m thriller; USA women's hoops in action
- Trevor Noah defends Taylor Swift in Grammys opening monologue: 'It is so unfair'
- Fate of 6-year-old girl in Gaza unknown after ambulance team sent to rescue her vanishes, aid group says
- Who is Steve Belichick? Bill Belichick's son to be Washington Huskies' DC, per reports
- NCAA hits former Michigan coach Jim Harbaugh with suspension, show-cause for recruiting violations
- Pigeon detained on suspicion of spying released after eight months
- 2 women killed days apart in same area in Indianapolis, police say
- San Francisco considers a measure to screen welfare recipients for addiction
Recommendation
A steeplechase record at the 2024 Paris Olympics. Then a proposal. (He said yes.)
Could a nearby 'super Earth' have conditions to support life? Astronomers hope to find out
Horoscopes Today, February 4, 2024
Allegiant Stadium will host Super Bowl 58. What to know about the Las Vegas venue
Romantasy reigns on spicy BookTok: Recommendations from the internet’s favorite genre
Apple Vision Pro makes triumphant appearance courtside on Celtics fan's face
How Las Vegas evolved from Sin City to Super Bowl host
Paris Jackson covers up over 80 tattoos at the Grammys: 'In love with my alter ego'