Zillow: 100 Largest US Cities by Typical Home Price, February 2022

[dimondpark]

This is by city proper.

My first observation is that LA, SD and Seattle are all closing in on $1 million.

My second observation is Reno & Boise. Wow.

Thirdly, Austin is now in the same price range as DC? Ugh.

Anyhow, I also added Canada's 3 major cities using data from zolo.ca

100 Largest US Cities by Typical Home Price, February 2022
San Francisco, CA $1,545,059
Fremont, CA $1,476,366
San Jose, CA $1,397,574
Vancouver, BC $1,162,632
Irvine, CA $1,159,143
Oakland, CA $961,248
Los Angeles, CA $934,305
Toronto, ON $927,957
San Diego, CA $918,467
Seattle, WA $915,340
Anaheim, CA $846,355
Honolulu, HI $824,605
Long Beach, CA $786,182
Scottsdale, AZ $784,305
Chula Vista, CA $777,383
Santa Ana, CA $763,925
Santa Clarita, CA $750,542
New York, NY $741,622
Boston, MA $710,654
Washington, DC $692,376
Austin, TX $636,839
Denver, CO $599,742
Riverside, CA $594,530
Jersey City, NJ $576,986
Portland, OR $564,334
Reno, NV $549,527
Gilbert, AZ $547,777
Boise, ID $523,760
Chandler, AZ $498,677
Aurora, CO $489,489
Plano, TX $487,587
Sacramento, CA $484,269
Henderson, NV $469,875
Miami, FL $469,562
Colorado Springs, CO $461,668
Stockton, CA $434,490
Montreal, QC $416,094
Raleigh, NC $412,599
Mesa, AZ $405,723
Nashville, TN $404,945
Las Vegas, NV $399,108
Phoenix, AZ $396,063
Spokane, WA $387,564
Newark, NJ $384,391
North Las Vegas, NV $380,286
Glendale, AZ $380,007
Durham, NC $370,805
Atlanta, GA $366,797
Tampa, FL $365,650
Charlotte, NC $358,605
Anchorage, AK $356,401
Virginia Beach, VA $355,526
Fresno, CA $354,622
Bakersfield, CA $353,987
Irving, TX $351,550
Madison, WI $349,786
Chesapeake, VA $348,322
Orlando, FL $338,272
Minneapolis, MN $324,985
St Petersburg, FL $315,765
Richmond, VA $310,042
Chicago, IL $306,098
Arlington, TX $300,723
Tucson, AZ $300,294
Dallas, TX $294,603
Fort Worth, TX $292,552
Albuquerque, NM $286,465
St Paul, MN $279,635
San Antonio, TX $276,049
Garland, TX $275,992
Jacksonville, FL $273,730
New Orleans, LA $271,080
Lexington, KY $260,968
Norfolk, VA $260,906
Omaha, NE $251,594
Lincoln, NE $250,845
Houston, TX $241,582
Philadelphia, PA $227,938
Columbus, OH $223,836
Louisville, KY $219,949
Greensboro, NC $218,809
Cincinnati, OH $217,891
Baton Rouge, LA $215,200
Kansas City, MO $214,263
Winston-Salem, NC $209,917
Indianapolis, IN $208,102
Corpus Christi, TX $204,144
Pittsburgh, PA $203,384
Baltimore, MD $196,478
Buffalo, NY $195,614
Fort Wayne, IN $190,825
Lubbock, TX $190,742
Laredo, TX $184,086
Oklahoma City, OK $183,125
El Paso, TX $182,377
Wichita, KS $170,666
Tulsa, OK $169,554
Milwaukee, WI $167,762
St Louis, MO $166,529
Memphis, TN $139,694
Toledo, OH $102,102
Cleveland, OH $99,107
Detroit, MI $64,368

[bnk]

DFW is now about Same price as Chicago both at good price points. Pittsburgh really stands out as a good home for the money in my opinion.

I'd like to see this condensed into MSA's. Detroit would be nowhere near the bottom if that was the case. 243K says this link. https://www.dbusiness.com/daily-news/median-sales-price-of-homes-in-metro-detroit-jumps-nearly-14/


Anyone remember when Austin used to be low-cost? The price never got above 200K until 2002.
https://www.recenter.tamu.edu/data/housing-activity/#!/activity/MSA/Austin-Round_Rock


Houston seems low. Kansas City would be a very low-cost city to live it appears and its livable.


EDIT. reading below missing from the list.

https://www.zillow.com/milwaukee-wi/home-values/

Milwaukee is a great deal ~168 K , I'm sure the Metro is above city limits though. Yep Metro Milwaukee is 326K https://learn.roofstock.com/blog/milwaukee-real-estate-market


BTW can the OP give us a direct link to this data

[Steely Dan]

The Bos-Wash divergence is as clear as day.

New York, NY $741,622
Boston, MA $710,654
Washington, DC $692,376

Philadelphia, PA $227,938
Baltimore, MD $196,478


In rough terms, the median home price difference between those two groups is approximately half a million dollars.




Also, I couldn't find Milwaukee. Oversight or intentionally left off?

[DCReid]

Originally Posted by Steely Dan

The Bos-Wash divergence is as clear as day.

New York, NY $741,622
Boston, MA $710,654
Washington, DC $692,376

Philadelphia, PA $227,938
Baltimore, MD $196,478


In rough terms, the median home price difference between those two groups is approximately half a million dollars.




Also, I couldn't find Milwaukee. Oversight or intentionally left off?

And for some of the cities, it is hard to compare apples to apples because of the age of housing stock. A city in older industrial cities like Pittsburgh or Cleveland would likely have more old houses but a city in the TX cities would have newer houses. The difference in prices between Memphis and Nashville is striking, but I guess that is due to the economic fortunes of both cities. Some of the western cities clearly seem to be benefiting from the California transplants - like Boise and Reno.

[JManc]

Originally Posted by DCReid

And for some of the cities, it is hard to compare apples to apples because of the age of housing stock. A city in older industrial cities like Pittsburgh or Cleveland would likely have more old houses but a city in the TX cities would have newer houses. The difference in prices between Memphis and Nashville is striking, but I guess that is due to the economic fortunes of both cities. Some of the western cities clearly seem to be benefiting from the California transplants - like Boise and Reno.

It's not really the age but the desirability of neighborhoods. Houston has comparatively newer housing but a lot of run down areas (like Pittsburgh or Cleveland) driving down overall property values.

[austlar1]

Originally Posted by DCReid

And for some of the cities, it is hard to compare apples to apples because of the age of housing stock. A city in older industrial cities like Pittsburgh or Cleveland would likely have more old houses but a city in the TX cities would have newer houses. The difference in prices between Memphis and Nashville is striking, but I guess that is due to the economic fortunes of both cities. Some of the western cities clearly seem to be benefiting from the California transplants - like Boise and Reno.

The four or five largest Texas cities (Austin maybe not so much because it grew large only in recent years) all have large swaths of modest SFHs built circa 1930s through the 1970s that house working class and ethnically diverse lower middle class families. Home prices in these areas are substantially less than homes in the so-called "most favored quarter" parts of town where prices rarely fall much below $500,000. It is a mistake to think Texas cities have anything approaching uniform home prices within the central city. I think it would be much more useful to post home price statistics for metro areas, or possibly break down metro area home prices into meaningful statistics. I noticed that the list posted above has prices for Dallas, Fort Worth, Arlington, and Plano, as well as Garland and Irving. Dallas, FW, and Arlington all have a lot of the working class/lower middle class housing stock I described, while the relative newcomer Plano, where prices are 60% higher, has the kind of uniformly "new" housing stock you mention in your post.

[DCReid]

Don't have access to the full article but maybe someone else does:

https://www.nytimes.com/2022/02/20/busin...nsive-cities.html?searchResultPosition=1

[Crawford]

Wow, the average (asking?) price of a home in Fremont, CA is $1.5 million. Insane.

No offense to anyone living there, but Fremont is a pretty average suburb. Big, sprawly and Sunbelty. Just different in that it's super South Asian and home prices are apparently in the stratosphere.

Also, the average (asking?) in Santa Ana, CA is approaching 800k? Santa Ana is the worst town in Orange County, a county of 3 million. No town comes close in terms of bad rep.

[JManc]

Originally Posted by Crawford

Wow, the average (asking?) price of a home in Fremont, CA is $1.5 million. Insane.

No offense to anyone living there, but Fremont is a pretty average suburb. Big, sprawly and Sunbelty. Just different in that it's super South Asian and home prices are apparently in the stratosphere.

Also, the average (asking?) in Santa Ana, CA is approaching 800k? Santa Ana is the worst town in Orange County, a county of 3 million. No town comes close in terms of bad rep.

It is boring as hell but it's still Silicon Valley and close to most of the big tech companies in the area. Rents are outrageous as well. I'm staying in Houston until we return to work in July so I can save a ton of $$$ on rent.

[dimondpark]

Originally Posted by Crawford

Wow, the average (asking?) price of a home in Fremont, CA is $1.5 million. Insane.

No offense to anyone living there, but Fremont is a pretty average suburb. Big, sprawly and Sunbelty. Just different in that it's super South Asian and home prices are apparently in the stratosphere.

Yes that's an outrageous price but Fremont is still relatively attainable for the area it's in. Sad but true.

Zillow Typical Home Value, February 2022
Palo Alto, CA $3,739,303
Menlo Park, CA $2,926,940
Cupertino, CA $2,895,125
Mountain View, CA $2,083,874
Sunnyvale, CA $2,080,841
Santa Clara, CA  $1,631,904
Fremont, CA $1,476,366
San Jose, CA $1,397,574
Milpitas, CA $1,391,210
Union City, CA $1,324,617
Newark, CA $1,240,971
East Palo Alto, CA $1,029,369

[dimondpark]

Originally Posted by JManc

It is boring as hell but it's still Silicon Valley and close to most of the big tech companies in the area. Rents are outrageous as well. I'm staying in Houston until we return to work in July so I can save a ton of $$$ on rent.

I dont blame you.

[38 Geary]

Fremont only made the list since it’s in the top 100 biggest cities by population. Compared to other suburbs in the Bay Area it’s relatively affordable.

[dave8721]

Originally Posted by JManc

It's not really the age but the desirability of neighborhoods. Houston has comparatively newer housing but a lot of run down areas (like Pittsburgh or Cleveland) driving down overall property values.

Especially in city limits. A good chunk of Miami's (probably the majority) city limits are Overtown, Liberty City, Little Havana...etc. And its still way more expensive than places like Chicago.

[AviationGuy]

Austin has rundown areas as well, and even those areas are going for ridiculous prices simply as an artifact of this being boomtown. There are of course many very nice areas, and the prices in those areas are far higher than the "typical" price listed above for Austin (whatever "typical" means).

[twister244]

Originally Posted by JManc

It is boring as hell but it's still Silicon Valley and close to most of the big tech companies in the area. Rents are outrageous as well. I'm staying in Houston until we return to work in July so I can save a ton of $$$ on rent.

Why not just push to stay indefinitely?

[iheartthed]

I don't know you anyone can look at this list and defend California's single-family zoning love affair.

[pj3000]

What is a "Typical Home Price"?

What is a "Typical Home"?

[MAC123]

Originally Posted by iheartthed

I don't know you anyone can look at this list and defend California's single-family zoning love affair.

They can defend it, not well mind you, but they'll try.

[bnk]

That list is CA and TX centric, lots of suburbs.

Any reason why they left out Milwaukee? 577K

https://www.zillow.com/milwaukee-wi/home-values/



I can see why Des Moines is off the list because city limits it is 241K, 105th in population but its metro is 700K, larger than Madison or Wichita.

https://www.zillow.com/des-moines-ia/home-values/

And Grand Rapids Metro is bigger than Des Moines, by a lot.

https://www.zillow.com/grand-rapids-mi/home-values/

[dimondpark]

Originally Posted by bnk

That list is CA and TX centric, lots of suburbs.

Any reason why they left out Milwaukee? 577K

https://www.zillow.com/milwaukee-wi/home-values/



I can see why Des Moines is off the list because city limits it is 241K, 105th in population but its metro is 700K, larger than Madison or Wichita.

https://www.zillow.com/des-moines-ia/home-values/

And Grand Rapids Metro is bigger than Des Moines, by a lot.

https://www.zillow.com/grand-rapids-mi/home-values/

Sorry, Milwaukee was cut off when I cut and pasted the list, which I created by looking at the 100 Largest cities, not metro area.