Coastal states paved the way – with a couple of shocking exceptions
Housing is more and more unaffordable for a lot of Individuals. Home costs have risen for months on finish, and mortgage charges are nonetheless properly above pandemic-era lows, pushing housing funds to near-record ranges. Wages haven’t saved up, both, resulting in a significant affordability hole and pushing extra individuals right into a expensive rental market. By many metrics, housing has by no means been extra out of attain. A provide scarcity is the first perpetrator.
Rising residing bills have been a significant purpose why individuals flocked to extra inexpensive 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 pattern has largely 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 costliest? What are the costliest states to purchase a home? Whether or not you’re in search of 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 revenue:
$78,538
Median month-to-month housing cost: $1,902
The ten most costly states to purchase a home
1. California
Median sale value: $785,000
Median family revenue: $96,334
Median month-to-month housing cost: $2,865
California is the costliest state to purchase a home within the U.S. Excessive home costs – pushed by a significant provide scarcity – paired with excessive month-to-month funds, fuel prices, and taxes make it an costly place to reside. The state’s median family revenue can also be excessive however usually inadequate to comfortably afford housing. It’s no surprise a big share of Californians are cost-burdened.
California is house to seven of the ten most costly cities within the nation, largely positioned within the Bay Space and SoCal. Los Angeles, San Jose, and San Francisco are among the many priciest. Importantly, local weather dangers and insurance coverage struggles are taking part in a rising position in every day life, with house insurance coverage changing into dearer and even unavailable for a lot of California householders.
That mentioned, the Golden State stays a dreamlike place to name house. With greater than 3,400 miles of protected shoreline, world-famous nationwide parks, and wildly numerous climates, California affords an unmatched mix of outside journey, financial alternative, and neighborhood. Essentially the most inexpensive cities in California are Porterville and Tulare.
California houses on the market | California homes for lease | California residences for lease
2. Hawaii
Median sale value: $779,000
Median family revenue: $98,317
Median month-to-month housing cost: $2,863
Identified for its idyllic seashores, volcanic landscapes, and Native tradition, Hawaii is usually thought-about paradise on earth. The climate is great, residents are pleasant, and facilities are plentiful. Folks 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 inexpensive, Hawaii is persistently costly throughout its many islands – particularly in O’ahu, house 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 value of utilities (particularly electrical energy) and on a regular basis items are the best within the nation. Pair that with low wages and a tourist-heavy financial system 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 dear in Hawaii, residing there might price much more.
Hawaii houses on the market | Hawaii homes for lease | Hawaii residences for lease
3. Massachusetts
Median sale value: $622,000
Median family revenue: $101,341
Median month-to-month housing cost: $2,659
Massachusetts is wealthy with historical past and East Coast persona, house 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 excessive 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 costliest metropolis; surrounding suburbs and smaller cities really include the heftiest value tags. Edgartown, West Tisbury, and Duxbury, coastal respites, are the costliest locations in Massachusetts. In case you’re in search of affordability, cities like Springfield and New Bedford are your finest guess.
Add in excessive taxes and vitality prices, and your pockets may really feel the squeeze. There are efforts to enhance entry to inexpensive housing statewide, which can assist these struggling to enter the market.
Massachusetts houses on the market | Massachusetts homes for lease | Massachusetts residences for lease
4. Colorado
Median sale value: $607,000
Median family revenue: $92,470
Median month-to-month housing cost: $2,231
Colorado, the Mile Excessive State house 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 incredible place to reside.
Regardless of little inhabitants development lately, demand nonetheless outpaces provide, driving costs greater. Denver’s craft beer scene is prospering, Boulder’s tech sector continues to broaden, and ritzy mountain cities like Aspen and Avon repeatedly see a few of the nation’s most costly house gross sales. Essentially the most inexpensive cities are Pueblo and Greeley, within the flat northeast.
Colorado houses on the market | Colorado homes for lease | Colorado residences for lease
5. Washington
Median sale value: $606,000
Median family revenue: $94,952
Median month-to-month housing cost: $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 prime the record of the costliest cities, whereas Jap Washington cities like Yakima are among the many most inexpensive. Nonetheless, discovering a house under the nationwide median anyplace in Washington is usually 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 homes for lease | Washington residences for lease
6. New York
Median sale value: $571,000
Median family revenue: $84,579
Median month-to-month housing cost: $2,501
New York is a famously ritzy and gritty state. Most individuals affiliate it with its namesake metropolis – the most important 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 costliest place to reside within the Empire State, with neighborhoods like TriBeCa and SoHo commanding multimillion greenback costs. The price of residing is a outstanding 131% greater than the nationwide common, however personalities could even outsize the finances it is advisable 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 in style refuges of affordability.
New York houses on the market | New York homes for lease | New York residences for lease
7. Utah
Median sale value: $567,000
Median family revenue: $91,750
Median month-to-month housing cost: $1,927
Utah may shock you in terms of housing prices. Because of a thriving job market, regular stream of latest residents, beautiful surroundings, and long-term housing scarcity, house costs right here have been on a gradual climb. The median sale value has risen over $220,000 prior to now 5 years.
The Wasatch Entrance – highlighted by Salt Lake Metropolis – is on the heart of all of it, with tech firms sprouting alongside the “Silicon Slopes” and close by suburbs rising quickly. Nevertheless, smaller cities near world-class ski resorts and nationwide parks demand the best costs. The costliest cities within the state are Park Metropolis and Hideout; essentially the most inexpensive are Ogden and Logan.
That mentioned, there’s loads to like about residing within the Beehive State – like quick access to the outside, a thriving arts scene, and loads of universities and hip cities. In case you can deal with paying a premium, Utah may simply be value each penny.
Utah houses on the market | Utah homes for lease | Utah residences for lease
8. Montana
Median sale value: $541,000
Median family revenue: $69,922
Median month-to-month housing cost: $1,736
Hundreds of coastal homebuyers flocked to Montana’s mountain cities throughout the pandemic, in search of broad open landscapes and an inexpensive place to reside. Whereas development has slowed, the consequence has been quickly spiking housing prices, particularly 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 saved up. In accordance with NAR, Montana really has the least inexpensive housing within the nation when evaluating native wages and home costs.
Nonetheless, for individuals who can afford to settle below Montana’s “Big Sky,” the payoff might be large. There’s an countless provide of outside adventures – mountaineering, fishing, and snowboarding amongst them – plus a powerful sense of neighborhood that’s powerful to seek out in larger city hubs.
Montana houses on the market | Montana homes for lease | Montana residences for lease
9. New Jersey
Median sale value: $538,000
Median family revenue: $101,050
Median month-to-month housing cost: $2,787
New Jersey is the ninth-most costly state to purchase a home, even earlier than factoring in its famously excessive property taxes. Fortunately, it additionally has a few of the highest median wages within the nation, serving to offset the steep price of residing. Its proximity to NYC and Philadelphia performs a significant position, with cities in northern New Jersey – comparable to Hoboken, Jersey Metropolis, and Montclair – commanding notably excessive costs as a consequence of quick access to Manhattan. Coastal areas like Cape Might and elements of the Jersey Shore additionally see premium house values, particularly in sought-after seaside communities.
That mentioned, New Jersey is usually a excellent place to reside. The Backyard State’s numerous neighborhoods – starting from buzzing city hubs to quiet suburbia – supply a bit little bit of every little thing. In case you can deal with the excessive price, you’ll discover a state that’s filled with nature, stable profession alternatives, and quick access to big-city life through a large rail community.
New Jersey houses on the market | New Jersey homes for lease | New Jersey residences for lease
10. Oregon
Median sale value: $508,000
Median family revenue: $80,426
Median month-to-month housing cost: $2,080
Oregon is a lush state filled with pure surprise, progressive tradition, and down-to-earth cities. It’s in all probability finest recognized for its rugged coastlines and hipster-friendly espresso outlets, however it’s additionally one of many pricier locations to cool down. The median house value sits ~$100,000 above the nationwide common, and stylish cities like Bend have seen a $280,000 rise in costs.
Toss in a comparatively excessive revenue tax (although there’s no gross sales tax) and also you’ll discover that residing within the Beaver State can price a fairly penny. The costliest locations in Oregon are Stafford and Sunriver; essentially the most inexpensive cities are Medford and Springfield.
Nonetheless, loads of people are blissful to pay for Oregon’s laid-back vibe and pure magnificence. Whether or not you’re mountaineering round Mount Hood, exploring the brewery scene in Bend, or having fun with a scenic drive alongside the Pacific coast, there’s at all times one thing beautiful to expertise.
Oregon houses on the market | Oregon homes for lease | Oregon residences for lease
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 information. Median family revenue and median month-to-month housing cost information (together with mortgage) is from the U.S. Census Bureau. Value of residing information comes from Redfin and the Council for Neighborhood and Financial Analysis through the Missouri Financial Analysis and Data Heart. Tax charges come from the Tax Basis.
