The most expensive cities to buy a home in America may surprise you

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A sold sign stands in front of a house in Brighton, N.Y. Average rates on long-term mortgages continue to fall to new record lows, as the key 30-year loan dropped below 3% for the first time in 50 years. The stagnant economic recovery in the face of the coronavirus pandemic is keeping inflation tamped down despite pent-up homebuying demand. (AP Photo/Ted Shaffrey, File)

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HOUSTON (CW39) – A new report from Inspection Support Network looked at the places in the U.S. with the most expensive real estate. Sales data from the U.S. census Bureau shows the percentage of homes under $300,00 was 35.4% in the first quarter of 2021. That’s a decreases of more than 46 percentage points from the third quarter of 2002, when 82% of new homes on the market cost less than $300,000.

Houston has the 16th least expensive real estate out of all large U.S. metro areas.

San Jose and San Francisco, the median home value in both of those bay area cities is more than $1.2 million.

At the state level, homes are most expensive in Hawaii, where the median price is nearly $710,000, or about 150% higher than the national median price of $281,370. California is second at $654,629, which is also more than double the national median.

Here is a summary of the data for the Houston, TX metro area:

  • Median home value: $241,698
  • Difference from national median: -14.1%
  • Previous one-year change in home value: +9.1%
  • Projected one-year change in home value: +9.5%
  • Median household income: $67,516

For reference, here are the statistics for the entire United States:

  • Median home value: $281,370
  • Difference from national median: N/A
  • Previous one-year change in home value: +11.6%
  • Projected one-year change in home value: +11.8%
  • Median household income: $62,843

For more information you can find the research here.

Copyright 2021 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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