Coastal states cleared the path – with a number of shocking exceptions
Housing is more and more unaffordable for a lot of People. Home costs have risen for months on finish, and mortgage charges are nonetheless effectively above pandemic-era lows, pushing housing funds to near-record ranges. Wages haven’t kept up, both, resulting in a significant affordability hole and pushing extra individuals right into a costly rental market. By many metrics, housing has never been extra out of attain. A provide scarcity is the first offender.
Rising residing bills have been a significant purpose why individuals flocked to extra reasonably priced elements of the nation throughout the pandemic. Areas in Florida, Arizona, Texas, and the Rust Belt blossomed, whereas coastal cities noticed inhabitants declines.
Though this development has principally normalized right this moment, it leaves us with an vital query: in a market the place so many are in search of affordability, the place are houses nonetheless the most costly? What are the most costly states to purchase a home? Whether or not you’re searching for one thing costly or wish to know which states to keep away from, this Redfin article is for you.
U.S. housing market at a look
| Median sale value:
$428,000 |
Median family earnings:
$78,538 |
Median month-to-month housing fee: $1,902 |
The ten most costly states to purchase a home
1. California
- Median sale value: $785,000
- Median family earnings: $96,334
- Median month-to-month housing fee: $2,865
California is the most costly state to purchase a home within the U.S. Excessive home costs – pushed by a major supply shortage – paired with excessive month-to-month funds, fuel prices, and taxes make it an costly place to reside. The state’s median family earnings can be excessive however often insufficient to comfortably afford housing. It’s no surprise a large share of Californians are cost-burdened.
California is dwelling to seven of the ten most costly cities within the nation, principally situated within the Bay Space and SoCal. Los Angeles, San Jose, and San Francisco are among the many priciest. Importantly, local weather dangers and insurance struggles are taking part in a rising position in day by day life, with dwelling insurance coverage turning into more expensive and even unavailable for a lot of California owners.
That stated, the Golden State stays a dreamlike place to name dwelling. With greater than 3,400 miles of protected shoreline, world-famous nationwide parks, and wildly numerous climates, California affords an unequalled mix of out of doors journey, financial alternative, and neighborhood. The most reasonably priced cities in California are Porterville and Tulare.
California houses on the market | California houses for rent | California apartments for rent
2. Hawaii
- Median sale value: $779,000
- Median family earnings: $98,317
- Median month-to-month housing fee: $2,863
Identified for its idyllic seashores, volcanic landscapes, and Native tradition, Hawaii is commonly thought of paradise on earth. The climate is great, residents are pleasant, and facilities are plentiful. Individuals love the variety and lifestyle throughout its six main islands. Nevertheless, this paradise comes at a steep price.
Hawaii is the second-most costly state to purchase a home within the U.S. In contrast to California, the place some cities stay reasonably priced, Hawaii is constantly costly throughout its many islands – particularly in O’ahu, dwelling to Honolulu. Hawaii’s solely city with home costs close to the nationwide median is Waianae.
Past housing, Hawaii’s price of residing is among the many highest within the U.S. The worth of utilities (particularly electrical energy) and everyday goods are the very best within the nation. Pair that with low wages and a tourist-heavy economy that makes it unaffordable for a lot of locals to reside there, and Hawaii appears much more costly. In brief, whereas shopping for a house is pricey in Hawaii, residing there may price much more.
Hawaii houses on the market | Hawaii houses for rent | Hawaii apartments for rent
3. Massachusetts
- Median sale value: $622,000
- Median family earnings: $101,341
- Median month-to-month housing fee: $2,659
Massachusetts is wealthy with historical past and East Coast character, dwelling to thriving tech industries, famend higher-ed, and beautiful coastlines. Simply be able to shell out for the privilege of residing within the Bay State; its walkable cities and high paying jobs come at a value. Home costs are the third-highest within the nation, with many cities passing the million greenback mark.
Boston isn’t even the most costly metropolis; surrounding suburbs and smaller cities really include the heftiest value tags. Edgartown, West Tisbury, and Duxbury, coastal respites, are the most costly locations in Massachusetts. For those who’re searching for affordability, cities like Springfield and New Bedford are your finest guess.
Add in high taxes and vitality prices, and your pockets may really feel the squeeze. There are efforts to enhance entry to reasonably priced housing statewide, which can assist these struggling to enter the market.
Massachusetts houses on the market | Massachusetts houses for rent | Massachusetts apartments for rent
4. Colorado
- Median sale value: $607,000
- Median family earnings: $92,470
- Median month-to-month housing fee: $2,231
Colorado, the Mile Excessive State dwelling to 300 days of sunshine, is the fourth-most costly U.S. state. A various mixture of mountain vistas, raging rivers, hip cities, and industrial cities makes it an amazing place to reside.
Regardless of little population growth in recent times, demand nonetheless outpaces provide, driving costs increased. Denver’s craft beer scene is prospering, Boulder’s tech sector continues to expand, and ritzy mountain cities like Aspen and Avon usually see among the nation’s most expensive home sales. Probably the most reasonably priced cities are Pueblo and Greeley, within the flat northeast.
Colorado houses on the market | Colorado houses for rent | Colorado apartments for rent
5. Washington
- Median sale value: $606,000
- Median family earnings: $94,952
- Median month-to-month housing fee: $2,358
Washington is the fifth-most costly state within the nation to purchase a home. The median home value is sort of $200,000 over the nationwide common, and paired with comparatively excessive taxes, residing within the Evergreen State doesn’t come low-cost. Seattle’s suburbs high the listing of the most costly cities, whereas Japanese Washington cities like Yakima are among the many most reasonably priced. Nonetheless, discovering a house beneath the nationwide median anyplace in Washington could be a problem.
That’s to not say it isn’t value it in case you can afford it. Identified for its iconic mountain ranges, tech scene, and legendary espresso tradition, Washington uniquely combines pure magnificence with big-city buzz. From the misty forests of the Olympic Peninsula to the skyscrapers of downtown Seattle, the state brims with alternative.
Washington houses on the market | Washington houses for rent | Washington apartments for rent
6. New York
- Median sale value: $571,000
- Median family earnings: $84,579
- Median month-to-month housing fee: $2,501
New York is a famously ritzy and gritty state. Most individuals affiliate it with its namesake metropolis – the biggest within the nation – however a majority of the state is definitely rural. Attractive, forested mountains, meandering canals, giant lakes, and extra outline the panorama, with famously industrial cities offering nice locations to reside.
Manhattan simply leads the pack as the most costly place to reside within the Empire State, with neighborhoods like TriBeCa and SoHo commanding multimillion greenback costs. The price of residing is a exceptional 131% increased than the nationwide common, however personalities might even outsize the funds it’s essential to reside there. Outdoors of NYC, excessive costs prolong to luxurious retreats just like the Hamptons, in addition to prosperous areas in Westchester County and elements of Lengthy Island. In the meantime, costs drop significantly in industrial cities like Rochester and Syracuse, which have gotten popular refuges of affordability.
New York houses on the market | New York houses for rent | New York apartments for rent
7. Utah
- Median sale value: $567,000
- Median family earnings: $91,750
- Median month-to-month housing fee: $1,927
Utah may shock you in terms of housing prices. Because of a thriving job market, steady stream of latest residents, beautiful surroundings, and long-term housing shortage, dwelling costs right here have been on a gentle climb. The median sale value has risen over $220,000 prior to now 5 years.
The Wasatch Front – highlighted by Salt Lake Metropolis – is on the middle of all of it, with tech corporations sprouting alongside the “Silicon Slopes” and close by suburbs rising quickly. Nevertheless, smaller cities near world-class ski resorts and nationwide parks demand the very best costs. The most costly cities within the state are Park Metropolis and Hideout; the most reasonably priced are Ogden and Logan.
That stated, there’s a lot to like about residing within the Beehive State – like easy accessibility to the outside, a thriving arts scene, and loads of universities and hip cities. For those who can deal with paying a premium, Utah may simply be value each penny.
Utah houses on the market | Utah houses for rent | Utah apartments for rent
8. Montana
- Median sale value: $541,000
- Median family earnings: $69,922
- Median month-to-month housing fee: $1,736
Thousands of coastal homebuyers flocked to Montana’s mountain cities throughout the pandemic, searching for broad open landscapes and an reasonably priced place to reside. Whereas development has slowed, the end result has been quickly spiking housing prices, especially in stylish, upscale cities like Bozeman and Whitefish. Statewide, home costs have risen by 55% since 2020, however in Bozeman, they’ve greater than doubled.
Locals have struggled with the rising prices, particularly as a result of wages haven’t kept up. According to NAR, Montana really has the least reasonably priced housing within the nation when evaluating native wages and home costs.
Nonetheless, for individuals who can afford to settle below Montana’s “Huge Sky,” the payoff might be large. There’s an countless provide of out of doors adventures – climbing, fishing, and snowboarding amongst them – plus a robust sense of neighborhood that’s powerful to search out in greater city hubs.
Montana houses on the market | Montana houses for rent | Montana apartments for rent
9. New Jersey
- Median sale value: $538,000
- Median family earnings: $101,050
- Median month-to-month housing fee: $2,787
New Jersey is the ninth-most costly state to purchase a home, even earlier than factoring in its famously high property taxes. Fortunately, it additionally has among the highest median wages within the nation, serving to offset the steep cost of living. Its proximity to NYC and Philadelphia performs a significant position, with cities in northern New Jersey – reminiscent of Hoboken, Jersey Metropolis, and Montclair – commanding significantly excessive costs as a consequence of easy accessibility to Manhattan. Coastal areas like Cape Could and elements of the Jersey Shore additionally see premium dwelling values, particularly in sought-after seaside communities.
That stated, New Jersey could be a excellent spot to reside. The Backyard State’s numerous neighborhoods – starting from buzzing city hubs to quiet suburbia – provide slightly little bit of every little thing. For those who can deal with the excessive price, you’ll discover a state that’s filled with nature, strong profession alternatives, and easy accessibility to big-city life through a massive rail network.
New Jersey houses on the market | New Jersey houses for rent | New Jersey apartments for rent
10. Oregon
- Median sale value: $508,000
- Median family earnings: $80,426
- Median month-to-month housing fee: $2,080
Oregon is a lush state filled with pure surprise, progressive tradition, and down-to-earth cities. It’s in all probability finest identified for its rugged coastlines and hipster-friendly espresso retailers, nevertheless it’s additionally one of many pricier locations to quiet down. The median dwelling value sits ~$100,000 above the nationwide common, and classy cities like Bend have seen a $280,000 rise in costs.
Toss in a comparatively excessive earnings tax (although there’s no gross sales tax) and also you’ll discover that residing within the Beaver State can price a reasonably penny. The most costly locations in Oregon are Stafford and Sunriver; probably the most reasonably priced cities are Medford and Springfield.
Nonetheless, loads of of us are completely happy to pay for Oregon’s laid-back vibe and pure magnificence. Whether or not you’re climbing round Mount Hood, exploring the brewery scene in Bend, or having fun with a scenic drive alongside the Pacific coast, there’s all the time one thing beautiful to expertise.
Oregon houses on the market | Oregon houses for rent | Oregon apartments for rent
Full median sale value rankings by state
| Rank | State | Median Sale Worth |
| 1 | California | $785,200 |
| 2 | Hawaii | $779,000 |
| 3 | Massachusetts | $622,100 |
| 4 | Colorado | $607,300 |
| 5 | Washington | $606,000 |
| 6 | New York | $571,300 |
| 7 | Utah | $566,800 |
| 8 | Montana | $540,700 |
| 9 | New Jersey | $538,300 |
| 10 | Oregon | $507,900 |
| 11 | Rhode Island | $506,600 |
| 12 | New Hampshire | $487,700 |
| 13 | Idaho | $480,500 |
| 14 | Nevada | $455,000 |
| 15 | Arizona | $454,600 |
| 16 | Virginia | $425,600 |
| 17 | Maine | $415,800 |
| 18 | Connecticut | $415,500 |
| 19 | Vermont | $414,400 |
| 20 | Maryland | $411,000 |
| 21 | Florida | $410,600 |
| 22 | Wyoming | $409,600 |
| 23 | Alaska | $388,700 |
| 24 | Tennessee | $383,400 |
| 25 | South Carolina | $377,600 |
| 26 | North Carolina | $367,600 |
| 27 | Georgia | $359,900 |
| 28 | New Mexico | $345,100 |
| 29 | Delaware | $343,300 |
| 30 | Minnesota | $342,400 |
| 31 | Texas | $335,600 |
| 32 | South Dakota | $317,400 |
| 33 | Wisconsin | $302,700 |
| 34 | Pennsylvania | $287,400 |
| 35 | Illinois | $284,000 |
| 36 | North Dakota | $278,800 |
| 37 | Alabama | $277,900 |
| 38 | Nebraska | $275,100 |
| 39 | Kentucky | $265,200 |
| 40 | Kansas | $262,500 |
| 41 | Arkansas | $256,100 |
| 42 | Indiana | $255,100 |
| 43 | Louisiana | $252,600 |
| 44 | Missouri | $251,900 |
| 45 | Mississippi | $249,700 |
| 46 | Michigan | $248,000 |
| 47 | West Virginia | $243,100 |
| 48 | Oklahoma | $236,700 |
| 49 | Ohio | $231,400 |
| 50 | Iowa | $227,500 |
Methodology
States have been ranked by median sale costs in March 2025, in line with Redfin knowledge. Median family earnings and median month-to-month housing fee knowledge (together with mortgage) is from the U.S. Census Bureau. Price of residing knowledge comes from Redfin and the Council for Community and Economic Research through the Missouri Economic Research and Information Center. Tax charges come from the Tax Foundation.
