Buying a home in America has never been more expensive. In May 2022, the median home listing price hit a record high of $447,000, according to Realtor.com. This is an increase of 17.6% from one year earlier.
While buying a new house can be expensive everywhere, home values tend to be higher in major metro areas. Some of the most populous places in the country have much higher median list prices – including some in which most homes are listed for over $1,000,000.
To determine the 25 cities with the most expensive homes, 24/7 Wall St. reviewed data from Realtor.com’s Monthly Housing Trends Report. In the report, Realtor.com ranked the 50 largest metropolitan areas in the U.S. based on the median home listing price in May 2022.
Home prices have continued to increase nationwide, even as demand has cooled down slightly in the wake of higher prices and mortgage rates. Demand for homes is still high coming off the heels of the COVID-19 pandemic, but such high list prices may be dissuading some potential buyers from entering the market, while higher interest rates are pushing some buyers out of the market.
Many of the places with the most expensive homes are also among the largest metro areas in the country. These population centers offer access to high-paying jobs, good schools, and entertainment and dining options, making them attractive places to live and driving up home costs. These are America’s best cities to live.
Click here to see the cities with the most expensive homes in America
25. Atlanta-Sandy Springs-Roswell, GA
> Median list price, May 2022: $428,000
> Increase in median list price, May 2021-May 2022: +9.8% (18th lowest out of 50)
> Median days on market: 29 (20th most out of 50)
> Population: 5,947,008
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24. Charlotte-Concord-Gastonia, NC-SC
> Median list price, May 2022: $435,000
> Increase in median list price, May 2021-May 2022: +11.5% (23rd lowest out of 50)
> Median days on market: 23 (16th fewest out of 50)
> Population: 2,595,027
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23. Tampa-St Petersburg-Clearwater, FL
> Median list price, May 2022: $437,000
> Increase in median list price, May 2021-May 2022: +30.6% (4th highest out of 50)
> Median days on market: 27 (24th most out of 50)
> Population: 3,152,928
22. Jacksonville, FL
> Median list price, May 2022: $439,000
> Increase in median list price, May 2021-May 2022: +26.2% (6th highest out of 50)
> Median days on market: 30 (15th most out of 50)
> Population: 1,533,796
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21. Orlando-Kissimmee-Sanford, FL
> Median list price, May 2022: $450,000
> Increase in median list price, May 2021-May 2022: +32.4% (3rd highest out of 50)
> Median days on market: 29 (20th most out of 50)
> Population: 2,560,260
20. Providence-Warwick, RI-MA
> Median list price, May 2022: $467,000
> Increase in median list price, May 2021-May 2022: +16.9% (16th highest out of 50)
> Median days on market: 22 (13th fewest out of 50)
> Population: 1,621,099
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19. Dallas-Fort Worth-Arlington, TX
> Median list price, May 2022: $473,000
> Increase in median list price, May 2021-May 2022: +24.5% (10th highest out of 50)
> Median days on market: 23 (16th fewest out of 50)
> Population: 7,451,858
18. Raleigh, NC
> Median list price, May 2022: $494,000
> Increase in median list price, May 2021-May 2022: +21.2% (13th highest out of 50)
> Median days on market: 9 (the fewest out of 50)
> Population: 1,362,997
17. Las Vegas-Henderson-Paradise, NV
> Median list price, May 2022: $500,000
> Increase in median list price, May 2021-May 2022: +28.2% (5th highest out of 50)
> Median days on market: 22 (13th fewest out of 50)
> Population: 2,228,866
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16. Phoenix-Mesa-Scottsdale, AZ
> Median list price, May 2022: $550,000
> Increase in median list price, May 2021-May 2022: +22.2% (12th highest out of 50)
> Median days on market: 23 (16th fewest out of 50)
> Population: 4,860,338
15. Nashville-Davidson-Murfreesboro-Franklin, TN
> Median list price, May 2022: $550,000
> Increase in median list price, May 2021-May 2022: +32.5% (2nd highest out of 50)
> Median days on market: 14 (4th fewest out of 50)
> Population: 1,904,186
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14. Washington-Arlington-Alexandria, DC-VA-MD-WV
> Median list price, May 2022: $588,000
> Increase in median list price, May 2021-May 2022: +15.3% (21st highest out of 50)
> Median days on market: 27 (24th most out of 50)
> Population: 6,250,309
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13. Portland-Vancouver-Hillsboro, OR-WA
> Median list price, May 2022: $598,000
> Increase in median list price, May 2021-May 2022: +8.7% (17th lowest out of 50)
> Median days on market: 26 (24th fewest out of 50)
> Population: 2,472,774
12. Riverside-San Bernardino-Ontario, CA
> Median list price, May 2022: $599,000
> Increase in median list price, May 2021-May 2022: +14.2% (24th highest out of 50)
> Median days on market: 27 (24th most out of 50)
> Population: 4,600,396
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11. Miami-Fort Lauderdale-West Palm Beach, FL
> Median list price, May 2022: $627,000
> Increase in median list price, May 2021-May 2022: +45.9% (the highest out of 50)
> Median days on market: 37 (5th most out of 50)
> Population: 6,129,858
10. Austin-Round Rock, TX
> Median list price, May 2022: $627,000
> Increase in median list price, May 2021-May 2022: +25.6% (8th highest out of 50)
> Median days on market: 16 (6th fewest out of 50)
> Population: 2,173,804
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9. Sacramento-Roseville-Arden-Arcade, CA
> Median list price, May 2022: $649,000
> Increase in median list price, May 2021-May 2022: +11.0% (22nd lowest out of 50)
> Median days on market: 23 (16th fewest out of 50)
> Population: 2,338,866
8. Denver-Aurora-Lakewood, CO
> Median list price, May 2022: $695,000
> Increase in median list price, May 2021-May 2022: +16.0% (18th highest out of 50)
> Median days on market: 10 (2nd fewest out of 50)
> Population: 2,928,437
7. New York-Newark-Jersey City, NY-NJ-PA
> Median list price, May 2022: $720,000
> Increase in median list price, May 2021-May 2022: +10.9% (20th lowest out of 50)
> Median days on market: 43 (the most out of 50)
> Population: 19,261,570
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6. Boston-Cambridge-Newton, MA-NH
> Median list price, May 2022: $772,000
> Increase in median list price, May 2021-May 2022: +10.3% (19th lowest out of 50)
> Median days on market: 16 (6th fewest out of 50)
> Population: 4,854,808
5. Seattle-Tacoma-Bellevue, WA
> Median list price, May 2022: $834,000
> Increase in median list price, May 2021-May 2022: +22.6% (11th highest out of 50)
> Median days on market: 17 (8th fewest out of 50)
> Population: 3,928,498
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4. San Diego-Carlsbad, CA
> Median list price, May 2022: $926,000
> Increase in median list price, May 2021-May 2022: +15.9% (19th highest out of 50)
> Median days on market: 21 (12th fewest out of 50)
> Population: 3,323,970
3. Los Angeles-Long Beach-Anaheim, CA
> Median list price, May 2022: $972,000
> Increase in median list price, May 2021-May 2022: +1.4% (9th lowest out of 50)
> Median days on market: 25 (23rd fewest out of 50)
> Population: 13,211,027
2. San Francisco-Oakland-Hayward, CA
> Median list price, May 2022: $1,129,000
> Increase in median list price, May 2021-May 2022: +3.8% (13th lowest out of 50)
> Median days on market: 23 (16th fewest out of 50)
> Population: 4,709,220
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1. San Jose-Sunnyvale-Santa Clara, CA
> Median list price, May 2022: $1,494,000
> Increase in median list price, May 2021-May 2022: +15.1% (22nd highest out of 50)
> Median days on market: 17 (8th fewest out of 50)
> Population: 1,985,926
Essential Tips for Investing (Sponsored)
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Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.
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