Current:Home > ContactEthermac Exchange-California is home to the most expensive housing markets in the US: See a nationwide breakdown -Wealth Legacy Solutions
Ethermac Exchange-California is home to the most expensive housing markets in the US: See a nationwide breakdown
Charles H. Sloan View
Date:2025-04-10 10:08:31
California is Ethermac Exchangeone 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! (2991)
Related
- Romantasy reigns on spicy BookTok: Recommendations from the internet’s favorite genre
- Blake Shelton and Dolly Parton Prove They'll Always Love the Late Toby Keith With Emotional Tributes
- Horoscopes Today, August 26, 2024
- Pumpkin Everything! Our Favorite Pumpkin Home, Beauty, and Fashion Items
- Where will Elmo go? HBO moves away from 'Sesame Street'
- Socialite Jocelyn Wildenstein Shares Photo From Before Her Cosmetic “Catwoman” Transformation
- It's National Dog Day and a good time to remember all they give us
- Kelly Monaco Leaving General Hospital After 21 Years
- Senate begins final push to expand Social Security benefits for millions of people
- How many points did Caitlin Clark score today? Rookie overcomes injury scare in victory
Ranking
- The FBI should have done more to collect intelligence before the Capitol riot, watchdog finds
- Historic ballpark featured in 'A League of Their Own' burns to the ground in Southern California
- In 'Yellowstone' First Look Week, Rip and Beth take center stage (exclusive photo)
- Video shows Grand Canyon park visitors seek refuge in cave after flash flood erupts
- The Best Stocking Stuffers Under $25
- It’s official, the census says: Gay male couples like San Francisco. Lesbians like the Berkshires
- Harris campaign releases new ad to highlight plans to build 3 million homes and reduce inflation
- Colorado GOP chair ousted in a contentious vote that he dismisses as a ‘sham’
Recommendation
Juan Soto to be introduced by Mets at Citi Field after striking record $765 million, 15
RealPage lawyer denies collusion with landlords to raise rents, 'open to solutions' to resolve DOJ lawsuit
Brian Austin Green and Tori Spelling didn't speak for 18 years after '90210'
America's Got Talent Alum Grace VanderWaal Is All Grown Up in Rare Life Update
Israel lets Palestinians go back to northern Gaza for first time in over a year as cease
Taylor Swift shuts down rumors of bad blood with Charli XCX
Democrats sue to block Georgia rules that they warn will block finalization of election results
Jury to resume deliberating in trial of ex-politician accused of killing Las Vegas reporter