The COVID-19 pandemic has ushered in an unprecedented surge in demand for homes in the United States. Inventory is at a record low, as is the average time homes are on the market. Meanwhile, both home prices and the share of homes selling above asking price have reached record highs.
Of course, in some parts of the country, exorbitant home prices are nothing new. Even before the pandemic, the majority of states had at least one city where the value of most homes exceeded a quarter million dollars.
Using data on median home value from the U.S. Census Bureau, 24/7 Wall St. identified the most expensive city to buy a home in every state. We included cities, towns, villages, and unincorporated communities with populations of at least 25,000 in our analysis.
It is important to note that while every city on this list has expensive homes relative to the rest of the state, not all cities have expensive homes relative to the U.S. as a whole. In states where housing generally has low median home values, even the city where home values are highest can be a relatively inexpensive place in comparison to the nation. Five states on this list — Kentucky, Nebraska, South Dakota, West Virginia, and Wyoming — do not have a city where the median home value is above the $217,500 national median. Here is a look at how much home you can buy got $200,000 in every state.
Home values in a given area are often a reflection of what residents can afford. And not surprisingly, the vast majority of the cities on this list have a median household income that exceeds the median across the state as a whole. Here is a look at the richest town in every state.
Click here to see the most expensive city to buy a home in every state.
Click here to see our methodology.
Alabama: Vestavia Hills
> Median home value: $376,200 (Alabama: $142,700)
> Median monthly housing costs with a mortgage: $2,185 (Alabama: $1,186)
> Share of housing units with a mortgage: 68.7% (Alabama: 56.2%)
> Homeownership rate: 78.3% (Alabama: 68.8%)
> Median household income: $109,485 (Alabama: $50,536)
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Alaska: Juneau
> Median home value: $345,900 (Alaska: $270,400)
> Median monthly housing costs with a mortgage: $2,178 (Alaska: $1,933)
> Share of housing units with a mortgage: 69.1% (Alaska: 62.9%)
> Homeownership rate: 64.8% (Alaska: 64.3%)
> Median household income: $88,390 (Alaska: $77,640)
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Arizona: Scottsdale
> Median home value: $475,300 (Arizona: $225,500)
> Median monthly housing costs with a mortgage: $2,176 (Arizona: $1,434)
> Share of housing units with a mortgage: 64.7% (Arizona: 63.8%)
> Homeownership rate: 66.2% (Arizona: 64.4%)
> Median household income: $88,213 (Arizona: $58,945)
Arkansas: Bentonville
> Median home value: $232,600 (Arkansas: $127,800)
> Median monthly housing costs with a mortgage: $1,602 (Arkansas: $1,089)
> Share of housing units with a mortgage: 80.5% (Arkansas: 54.5%)
> Homeownership rate: 54.2% (Arkansas: 65.6%)
> Median household income: $80,392 (Arkansas: $47,597)
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California: Los Altos
> Median home value: $2,000,000+ (California: $505,000)
> Median monthly housing costs with a mortgage: $4,000+ (California: $2,357)
> Share of housing units with a mortgage: 64.5% (California: 70.3%)
> Homeownership rate: 81.0% (California: 54.8%)
> Median household income: $235,278 (California: $75,235)
Colorado: Boulder
> Median home value: $700,000 (Colorado: $343,300)
> Median monthly housing costs with a mortgage: $2,368 (Colorado: $1,744)
> Share of housing units with a mortgage: 62.4% (Colorado: 71.3%)
> Homeownership rate: 48.4% (Colorado: 65.2%)
> Median household income: $69,520 (Colorado: $72,331)
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Connecticut: Westport
> Median home value: $1,150,400 (Connecticut: $275,400)
> Median monthly housing costs with a mortgage: $4,000+ (Connecticut: $2,119)
> Share of housing units with a mortgage: 68.3% (Connecticut: 67.8%)
> Homeownership rate: 85.2% (Connecticut: 66.1%)
> Median household income: $206,466 (Connecticut: $78,444)
Delaware: Newark
> Median home value: $277,800 (Delaware: $251,100)
> Median monthly housing costs with a mortgage: $1,681 (Delaware: $1,587)
> Share of housing units with a mortgage: 62.8% (Delaware: 65.0%)
> Homeownership rate: 52.0% (Delaware: 71.2%)
> Median household income: $58,434 (Delaware: $68,287)
Florida: Coral Gables
> Median home value: $846,100 (Florida: $215,300)
> Median monthly housing costs with a mortgage: $3,618 (Florida: $1,503)
> Share of housing units with a mortgage: 50.9% (Florida: 56.8%)
> Homeownership rate: 63.5% (Florida: 65.4%)
> Median household income: $100,843 (Florida: $55,660)
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Georgia: Milton
> Median home value: $541,000 (Georgia: $176,000)
> Median monthly housing costs with a mortgage: $2,621 (Georgia: $1,417)
> Share of housing units with a mortgage: 77.6% (Georgia: 65.1%)
> Homeownership rate: 76.4% (Georgia: 63.3%)
> Median household income: $128,559 (Georgia: $58,700)
Hawaii: East Honolulu
> Median home value: $959,800 (Hawaii: $615,300)
> Median monthly housing costs with a mortgage: $3,332 (Hawaii: $2,418)
> Share of housing units with a mortgage: 66.2% (Hawaii: 65.1%)
> Homeownership rate: 83.0% (Hawaii: 58.9%)
> Median household income: $133,165 (Hawaii: $81,275)
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Idaho: Eagle
> Median home value: $426,000 (Idaho: $212,300)
> Median monthly housing costs with a mortgage: $1,924 (Idaho: $1,270)
> Share of housing units with a mortgage: 66.1% (Idaho: 64.6%)
> Homeownership rate: 85.3% (Idaho: 70.0%)
> Median household income: $92,807 (Idaho: $55,785)
Illinois: Wilmette
> Median home value: $707,800 (Illinois: $194,500)
> Median monthly housing costs with a mortgage: $3,836 (Illinois: $1,693)
> Share of housing units with a mortgage: 60.6% (Illinois: 63.3%)
> Homeownership rate: 87.3% (Illinois: 66.1%)
> Median household income: $164,681 (Illinois: $65,886)
Indiana: Zionsville
> Median home value: $385,700 (Indiana: $141,700)
> Median monthly housing costs with a mortgage: $2,301 (Indiana: $1,148)
> Share of housing units with a mortgage: 79.6% (Indiana: 65.5%)
> Homeownership rate: 83.3% (Indiana: 69.1%)
> Median household income: $137,377 (Indiana: $56,303)
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Iowa: Urbandale
> Median home value: $237,500 (Iowa: $147,800)
> Median monthly housing costs with a mortgage: $1,657 (Iowa: $1,260)
> Share of housing units with a mortgage: 71.8% (Iowa: 60.6%)
> Homeownership rate: 78.3% (Iowa: 71.1%)
> Median household income: $90,858 (Iowa: $60,523)
Kansas: Leawood
> Median home value: $463,200 (Kansas: $151,900)
> Median monthly housing costs with a mortgage: $2,745 (Kansas: $1,378)
> Share of housing units with a mortgage: 65.5% (Kansas: 59.4%)
> Homeownership rate: 89.0% (Kansas: 66.3%)
> Median household income: $157,515 (Kansas: $59,597)
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Kentucky: Lexington-Fayette
> Median home value: $189,800 (Kentucky: $141,000)
> Median monthly housing costs with a mortgage: $1,345 (Kentucky: $1,178)
> Share of housing units with a mortgage: 68.9% (Kentucky: 57.7%)
> Homeownership rate: 54.4% (Kentucky: 67.2%)
> Median household income: $57,291 (Kentucky: $50,589)
Louisiana: Metairie
> Median home value: $236,900 (Louisiana: $163,100)
> Median monthly housing costs with a mortgage: $1,635 (Louisiana: $1,295)
> Share of housing units with a mortgage: 51.7% (Louisiana: 52.3%)
> Homeownership rate: 61.0% (Louisiana: 65.6%)
> Median household income: $59,346 (Louisiana: $49,469)
Maine: Portland
> Median home value: $289,000 (Maine: $190,400)
> Median monthly housing costs with a mortgage: $1,830 (Maine: $1,398)
> Share of housing units with a mortgage: 70.0% (Maine: 61.7%)
> Homeownership rate: 45.1% (Maine: 72.3%)
> Median household income: $60,467 (Maine: $57,918)
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Maryland: Bethesda
> Median home value: $911,000 (Maryland: $314,800)
> Median monthly housing costs with a mortgage: $3,882 (Maryland: $2,017)
> Share of housing units with a mortgage: 68.1% (Maryland: 72.9%)
> Homeownership rate: 66.1% (Maryland: 66.9%)
> Median household income: $164,142 (Maryland: $84,805)
Massachusetts: Wellesley
> Median home value: $1,149,100 (Massachusetts: $381,600)
> Median monthly housing costs with a mortgage: $4,000+ (Massachusetts: $2,225)
> Share of housing units with a mortgage: 67.3% (Massachusetts: 69.2%)
> Homeownership rate: 80.9% (Massachusetts: 62.4%)
> Median household income: $197,132 (Massachusetts: $81,215)
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Michigan: Forest Hills
> Median home value: $347,500 (Michigan: $154,900)
> Median monthly housing costs with a mortgage: $2,088 (Michigan: $1,298)
> Share of housing units with a mortgage: 64.3% (Michigan: 60.1%)
> Homeownership rate: 93.4% (Michigan: 71.2%)
> Median household income: $119,404 (Michigan: $57,144)
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Minnesota: Edina
> Median home value: $476,300 (Minnesota: $223,900)
> Median monthly housing costs with a mortgage: $2,628 (Minnesota: $1,580)
> Share of housing units with a mortgage: 64.5% (Minnesota: 66.3%)
> Homeownership rate: 70.8% (Minnesota: 71.6%)
> Median household income: $104,244 (Minnesota: $71,306)
Mississippi: Madison
> Median home value: $261,900 (Mississippi: $119,000)
> Median monthly housing costs with a mortgage: $1,752 (Mississippi: $1,147)
> Share of housing units with a mortgage: 75.6% (Mississippi: 49.4%)
> Homeownership rate: 93.2% (Mississippi: 68.2%)
> Median household income: $114,521 (Mississippi: $45,081)
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Missouri: Chesterfield
> Median home value: $379,800 (Missouri: $157,200)
> Median monthly housing costs with a mortgage: $2,321 (Missouri: $1,277)
> Share of housing units with a mortgage: 61.9% (Missouri: 61.5%)
> Homeownership rate: 78.0% (Missouri: 66.8%)
> Median household income: $113,315 (Missouri: $55,461)
Montana: Bozeman
> Median home value: $365,600 (Montana: $230,600)
> Median monthly housing costs with a mortgage: $1,741 (Montana: $1,429)
> Share of housing units with a mortgage: 66.6% (Montana: 56.7%)
> Homeownership rate: 43.1% (Montana: 68.1%)
> Median household income: $55,569 (Montana: $54,970)
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Nebraska: Kearney
> Median home value: $178,900 (Nebraska: $155,800)
> Median monthly housing costs with a mortgage: $1,428 (Nebraska: $1,386)
> Share of housing units with a mortgage: 60.8% (Nebraska: 60.5%)
> Homeownership rate: 59.1% (Nebraska: 66.1%)
> Median household income: $57,064 (Nebraska: $61,439)
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Nevada: Summerlin South
> Median home value: $426,400 (Nevada: $267,900)
> Median monthly housing costs with a mortgage: $2,054 (Nevada: $1,524)
> Share of housing units with a mortgage: 69.3% (Nevada: 68.0%)
> Homeownership rate: 68.5% (Nevada: 56.3%)
> Median household income: $93,899 (Nevada: $60,365)
New Hampshire: Nashua
> Median home value: $267,900 (New Hampshire: $261,700)
> Median monthly housing costs with a mortgage: $2,069 (New Hampshire: $1,948)
> Share of housing units with a mortgage: 68.0% (New Hampshire: 65.8%)
> Homeownership rate: 54.8% (New Hampshire: 71.1%)
> Median household income: $74,995 (New Hampshire: $76,768)
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New Jersey: Princeton
> Median home value: $866,200 (New Jersey: $335,600)
> Median monthly housing costs with a mortgage: $4,000+ (New Jersey: $2,465)
> Share of housing units with a mortgage: 57.9% (New Jersey: 66.8%)
> Homeownership rate: 60.2% (New Jersey: 63.9%)
> Median household income: $137,672 (New Jersey: $82,545)
New Mexico: Santa Fe
> Median home value: $280,800 (New Mexico: $171,400)
> Median monthly housing costs with a mortgage: $1,534 (New Mexico: $1,280)
> Share of housing units with a mortgage: 58.7% (New Mexico: 54.2%)
> Homeownership rate: 62.7% (New Mexico: 67.7%)
> Median household income: $57,972 (New Mexico: $49,754)
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New York: Harrison
> Median home value: $850,500 (New York: $313,700)
> Median monthly housing costs with a mortgage: $4,000+ (New York: $2,155)
> Share of housing units with a mortgage: 58.3% (New York: 60.8%)
> Homeownership rate: 66.6% (New York: 53.9%)
> Median household income: $123,030 (New York: $68,486)
North Carolina: Chapel Hill
> Median home value: $399,700 (North Carolina: $172,500)
> Median monthly housing costs with a mortgage: $2,306 (North Carolina: $1,314)
> Share of housing units with a mortgage: 62.0% (North Carolina: 63.2%)
> Homeownership rate: 50.3% (North Carolina: 65.2%)
> Median household income: $73,614 (North Carolina: $54,602)
North Dakota: Bismarck
> Median home value: $245,300 (North Dakota: $193,900)
> Median monthly housing costs with a mortgage: $1,596 (North Dakota: $1,426)
> Share of housing units with a mortgage: 58.3% (North Dakota: 53.5%)
> Homeownership rate: 63.3% (North Dakota: 62.4%)
> Median household income: $64,444 (North Dakota: $64,894)
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Ohio: Upper Arlington
> Median home value: $397,300 (Ohio: $145,700)
> Median monthly housing costs with a mortgage: $2,436 (Ohio: $1,282)
> Share of housing units with a mortgage: 67.5% (Ohio: 62.9%)
> Homeownership rate: 79.7% (Ohio: 66.1%)
> Median household income: $123,548 (Ohio: $56,602)
Oklahoma: Edmond
> Median home value: $240,600 (Oklahoma: $136,800)
> Median monthly housing costs with a mortgage: $1,790 (Oklahoma: $1,234)
> Share of housing units with a mortgage: 67.3% (Oklahoma: 54.9%)
> Homeownership rate: 68.2% (Oklahoma: 65.6%)
> Median household income: $81,473 (Oklahoma: $52,919)
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Oregon: Lake Oswego
> Median home value: $637,200 (Oregon: $312,200)
> Median monthly housing costs with a mortgage: $2,734 (Oregon: $1,699)
> Share of housing units with a mortgage: 70.1% (Oregon: 66.2%)
> Homeownership rate: 73.6% (Oregon: 62.4%)
> Median household income: $108,927 (Oregon: $62,818)
Pennsylvania: State College
> Median home value: $312,400 (Pennsylvania: $180,200)
> Median monthly housing costs with a mortgage: $1,859 (Pennsylvania: $1,494)
> Share of housing units with a mortgage: 60.0% (Pennsylvania: 60.1%)
> Homeownership rate: 25.4% (Pennsylvania: 68.9%)
> Median household income: $34,005 (Pennsylvania: $61,744)
Rhode Island: Cranston
> Median home value: $243,500 (Rhode Island: $261,900)
> Median monthly housing costs with a mortgage: $1,832 (Rhode Island: $1,860)
> Share of housing units with a mortgage: 67.2% (Rhode Island: 68.4%)
> Homeownership rate: 67.4% (Rhode Island: 60.8%)
> Median household income: $72,017 (Rhode Island: $67,167)
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South Carolina: Hilton Head Island
> Median home value: $483,600 (South Carolina: $162,300)
> Median monthly housing costs with a mortgage: $2,237 (South Carolina: $1,246)
> Share of housing units with a mortgage: 55.3% (South Carolina: 58.3%)
> Homeownership rate: 79.1% (South Carolina: 69.4%)
> Median household income: $84,575 (South Carolina: $53,199)
South Dakota: Sioux Falls
> Median home value: $189,800 (South Dakota: $167,100)
> Median monthly housing costs with a mortgage: $1,363 (South Dakota: $1,340)
> Share of housing units with a mortgage: 69.7% (South Dakota: 55.6%)
> Homeownership rate: 60.6% (South Dakota: 67.8%)
> Median household income: $59,912 (South Dakota: $58,275)
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Tennessee: Brentwood
> Median home value: $655,400 (Tennessee: $167,200)
> Median monthly housing costs with a mortgage: $2,906 (Tennessee: $1,244)
> Share of housing units with a mortgage: 67.8% (Tennessee: 59.2%)
> Homeownership rate: 91.4% (Tennessee: 66.3%)
> Median household income: $168,688 (Tennessee: $53,320)
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Texas: University Park
> Median home value: $1,295,500 (Texas: $172,500)
> Median monthly housing costs with a mortgage: $4,000+ (Texas: $1,606)
> Share of housing units with a mortgage: 65.0% (Texas: 57.4%)
> Homeownership rate: 82.2% (Texas: 62.0%)
> Median household income: $224,485 (Texas: $61,874)
Utah: Draper
> Median home value: $469,000 (Utah: $279,100)
> Median monthly housing costs with a mortgage: $2,279 (Utah: $1,551)
> Share of housing units with a mortgage: 77.9% (Utah: 70.5%)
> Homeownership rate: 79.7% (Utah: 70.2%)
> Median household income: $117,266 (Utah: $71,621)
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Vermont: Burlington*
> Median home value: $284,500 (Vermont: $227,700)
> Median monthly housing costs with a mortgage: $1,884 (Vermont: $1,621)
> Share of housing units with a mortgage: 65.6% (Vermont: 62.6%)
> Homeownership rate: 35.8% (Vermont: 70.8%)
> Median household income: $51,394 (Vermont: $61,973)
*Because Burlington is the only eligible city in Vermont, it is the most expensive city to buy a home by default.
Virginia: McLean
> Median home value: $1,031,200 (Virginia: $273,100)
> Median monthly housing costs with a mortgage: $4,000+ (Virginia: $1,799)
> Share of housing units with a mortgage: 67.0% (Virginia: 68.7%)
> Homeownership rate: 86.7% (Virginia: 66.3%)
> Median household income: $207,184 (Virginia: $74,222)
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Washington: Mercer Island
> Median home value: $1,218,200 (Washington: $339,000)
> Median monthly housing costs with a mortgage: $4,000+ (Washington: $1,886)
> Share of housing units with a mortgage: 65.7% (Washington: 68.5%)
> Homeownership rate: 68.7% (Washington: 63.0%)
> Median household income: $147,566 (Washington: $73,775)
West Virginia: Morgantown
> Median home value: $210,300 (West Virginia: $119,600)
> Median monthly housing costs with a mortgage: $1,249 (West Virginia: $1,050)
> Share of housing units with a mortgage: 55.6% (West Virginia: 46.6%)
> Homeownership rate: 42.5% (West Virginia: 73.2%)
> Median household income: $42,966 (West Virginia: $46,711)
Wisconsin: Brookfield
> Median home value: $318,800 (Wisconsin: $180,600)
> Median monthly housing costs with a mortgage: $1,997 (Wisconsin: $1,430)
> Share of housing units with a mortgage: 63.8% (Wisconsin: 63.9%)
> Homeownership rate: 85.5% (Wisconsin: 67.0%)
> Median household income: $108,198 (Wisconsin: $61,747)
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Wyoming: Gillette
> Median home value: $216,400 (Wyoming: $220,500)
> Median monthly housing costs with a mortgage: $1,554 (Wyoming: $1,459)
> Share of housing units with a mortgage: 72.1% (Wyoming: 58.3%)
> Homeownership rate: 69.9% (Wyoming: 70.4%)
> Median household income: $79,789 (Wyoming: $64,049)
Methodology:
To determine the most expensive city to buy a home in every state, 24/7 Wall St. reviewed five-year estimates of median owner-occupied home values from the U.S. Census Bureau’s 2019 American Community Survey.
We used census “place” geographies — a category that includes 29,573 incorporated legal entities and census-designated statistical entities. Of those, 29,319 had boundaries that fell within one of the 50 states, while the rest were in the District of Columbia or Puerto Rico.
We defined cities based on a population threshold — having more than 25,000 people — and 1,774 of the places fell within this threshold.
Cities were excluded if owner-occupied median home values were not available in the 2019 ACS, or if the sampling error associated with a town’s data was deemed too high.
The sampling error was defined as too high if the coefficient of variation — a statistical assessment of how reliable an estimate is — for a city’s owner-occupied median home value was above 15% and greater than two standard deviations above the mean CV for all cities’ owner-occupied median home values. We similarly excluded cites that had a sampling error too high for their population, using the same definition.
The remaining 1,773 places were ranked within their state based on their owner-occupied median home values. To break ties, we used median monthly housing costs with a mortgage, choosing the city where costs are higher.
Additional information on median monthly housing costs with a mortgage, the share of owner-occupied housing units that have a mortgage, rates of homeownership, and median household income are also five-year estimates from the 2019 ACS.
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