Top 25 Most Expensive States to Buy  Single Family Home

By Christina Basileo in New Home Tips on August 18, 2015

Sorry San Jose, you lose by winning 1st place as the most expensive metropolitan area to buy a single-family home. But with a median price of a new home being $980,000 – are you really that surprised? For those of you who do not make $18,000 a month to afford this – Welcome to the 99% club!

The good news is that we 99%-ers still have a chance to afford a home at the national average for a single family home is which is about $217,000 as of the first half of 2015. To afford a $225,000 house at a 4.00% interest, 2% property tax and 4% down payment – your household would only need to earn about $48,000 a year combined before taxes. Of course, if you’re a Millennial, you may have to start saving, as your individual average income is about $33,200 nationwide.

[We will go more into this in our next post!]

Ok, here’s what you clicked this link to find out! Enjoy.

Top 25 Most Expensive Metros to Buy a Single Family Home

Rank City, State Median Home Price
25 Trenton-Ewing, NJ $283,900
24 Miami-Fort Lauderdale-Miami Beach, FL $289,900
23 Sacramento-Arden-Arcade-Roseville, CA $291,000
22 Riverside-San Bernardino-Ontario, CA $291,700
21 Burlington-South Burlington, VT $293,300
20 Portland-Vancouver-Beaverton, OR-WA $314,800
19 Edison, NJ $322,900
18 Barnstable Town, MA $360,700
17 Denver-Aurora, CO $362,900
16 Seattle-Tacoma-Bellevue, WA $385,300
15 NY: Newark-Union, NJ-PA $394,400
14 Bridgeport-Stamford-Norwalk, CT $403,500
13 Washington-Arlington-Alexandria, DC-VA-MD-WV $403,800
12 New York-Northern New Jersey-Long Island, NY-NJ-PA $410,400
11 Boston-Cambridge-Quincy, MA-NH $414,600
10 Naples-Marco Island, FL $423,000
9 NY: Nassau-Suffolk, NY $430,000
8 Los Angeles-Long Beach-Santa Ana, CA $445,200
7 Boulder, CO $463,700
6 New York-Wayne-White Plains, NY-NJ $473,200
5 San Diego-Carlsbad-San Marcos, CA $547,800
4 Honolulu, HI $698,600
3 Anaheim-Santa Ana-Irvine, CA $713,200
2 San Francisco-Oakland-Fremont, CA $841,600
1 San Jose-Sunnyvale-Santa Clara, CA $980,000

 

If you want to explore these numbers in more depth, you can visit REALTORS® to see a full list of median prices for a single family home across the U.S.