Coastal states cleared the path – with just a few stunning 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 effectively above pandemic-era lows, pushing housing funds to near-record ranges. Wages haven’t stored up, both, resulting in a significant affordability hole and pushing extra folks 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 wrongdoer.
Rising dwelling bills have been a significant purpose why folks flocked to extra reasonably priced elements of the nation through the pandemic. Areas in Florida, Arizona, Texas, and the Rust Belt blossomed, whereas coastal cities noticed inhabitants declines.
Though this pattern has largely normalized in the present day, it leaves us with an essential query: in a market the place so many are searching for affordability, the place are properties nonetheless the most costly? What are the most costly states to purchase a home? Whether or not you’re in search of one thing costly or need 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 most costly 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 stay. The state’s median family revenue can also be excessive however typically inadequate to comfortably afford housing. It’s no surprise a big share of Californians are cost-burdened.
California is dwelling to seven of the ten most costly cities within the nation, largely 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 coverage struggles are enjoying a rising position in every day life, with dwelling insurance coverage changing into costlier and even unavailable for a lot of California owners.
That mentioned, 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 various climates, California provides an unmatched mix of out of doors journey, financial alternative, and group. Probably the most reasonably priced cities in California are Porterville and Tulare.
California properties on the market | California homes for lease | California flats 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 of 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. Nonetheless, this paradise comes at a steep value.
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 value of dwelling is among the many highest within the U.S. The worth of utilities (particularly electrical energy) and on a regular basis items are the very best within the nation. Pair that with low wages and a tourist-heavy economic system that makes it unaffordable for a lot of locals to stay there, and Hawaii appears much more costly. In brief, whereas shopping for a house is dear in Hawaii, dwelling there might value much more.
Hawaii properties on the market | Hawaii homes for lease | Hawaii flats 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 character, dwelling to thriving tech industries, famend higher-ed, and gorgeous coastlines. Simply be able to shell out for the privilege of dwelling 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 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. If you happen to’re in search of affordability, cities like Springfield and New Bedford are your finest wager.
Add in excessive taxes and power prices, and your pockets would possibly 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 properties on the market | Massachusetts homes for lease | Massachusetts flats 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 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 stay.
Regardless of little inhabitants progress in recent times, 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 usually see a number of the nation’s most costly dwelling gross sales. Probably the most reasonably priced cities are Pueblo and Greeley, within the flat northeast.
Colorado properties on the market | Colorado homes for lease | Colorado flats 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, dwelling within the Evergreen State doesn’t come low cost. Seattle’s suburbs prime the record of the most costly cities, whereas Japanese Washington cities like Yakima are among the many most reasonably priced. Nonetheless, discovering a house under the nationwide median wherever in Washington could be a problem.
That’s to not say it isn’t value it if you happen to 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 properties on the market | Washington homes for lease | Washington flats 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 biggest within the nation – however a majority of the state is definitely rural. Beautiful, forested mountains, meandering canals, massive lakes, and extra outline the panorama, with famously industrial cities offering nice locations to stay.
Manhattan simply leads the pack as the most costly place to stay within the Empire State, with neighborhoods like TriBeCa and SoHo commanding multimillion greenback costs. The price of dwelling is a exceptional 131% greater than the nationwide common, however personalities could even outsize the price range you’ll want to stay there. Outdoors of NYC, excessive costs lengthen 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 properties on the market | New York homes for lease | New York flats for lease
7. Utah
Median sale value: $567,000
Median family revenue: $91,750
Median month-to-month housing cost: $1,927
Utah would possibly shock you in terms of housing prices. Because of a thriving job market, regular stream of recent residents, gorgeous surroundings, and long-term housing scarcity, dwelling costs right here have been on a gradual climb. The median sale value has risen over $220,000 up to now 5 years.
The Wasatch Entrance – 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. Nonetheless, smaller cities near world-class ski resorts and nationwide parks demand the very best costs. The costliest cities within the state are Park Metropolis and Hideout; probably the most reasonably priced are Ogden and Logan.
That mentioned, there’s loads to like about dwelling within the Beehive State – like quick access to the outside, a thriving arts scene, and loads of universities and hip cities. If you happen to can deal with paying a premium, Utah would possibly simply be value each penny.
Utah properties on the market | Utah homes for lease | Utah flats for lease
8. Montana
Median sale value: $541,000
Median family revenue: $69,922
Median month-to-month housing cost: $1,736
1000’s of coastal homebuyers flocked to Montana’s mountain cities through the pandemic, in search of vast open landscapes and an reasonably priced place to stay. Whereas progress 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 growing prices, particularly as a result of wages haven’t stored up. In line with NAR, Montana really has the least reasonably priced housing within the nation when evaluating native wages and home costs.
Nonetheless, for many who can afford to settle beneath Montana’s “Big Sky,” the payoff will be enormous. There’s an infinite provide of out of doors adventures – climbing, fishing, and snowboarding amongst them – plus a robust sense of group that’s robust to search out in larger city hubs.
Montana properties on the market | Montana homes for lease | Montana flats 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 number of the highest median wages within the nation, serving to offset the steep value of dwelling. Its proximity to NYC and Philadelphia performs a significant position, with cities in northern New Jersey – resembling Hoboken, Jersey Metropolis, and Montclair – commanding significantly excessive costs as a consequence of quick access to Manhattan. Coastal areas like Cape Might and elements of the Jersey Shore additionally see premium dwelling values, particularly in sought-after seaside communities.
That mentioned, New Jersey could be a excellent place to stay. The Backyard State’s various neighborhoods – starting from buzzing city hubs to quiet suburbia – provide a little bit little bit of all the pieces. If you happen to can deal with the excessive value, you’ll discover a state that’s stuffed with nature, stable profession alternatives, and quick access to big-city life through an enormous rail community.
New Jersey properties on the market | New Jersey homes for lease | New Jersey flats 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 stuffed 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, however it’s additionally one of many pricier locations to quiet down. The median dwelling 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 dwelling within the Beaver State can value a reasonably penny. The costliest locations in Oregon are Stafford and Sunriver; probably the most reasonably priced cities are Medford and Springfield.
Nonetheless, loads of people are completely satisfied 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 at all times one thing gorgeous to expertise.
Oregon properties on the market | Oregon homes for lease | Oregon flats 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 accordance with Redfin knowledge. Median family revenue and median month-to-month housing cost knowledge (together with mortgage) is from the U.S. Census Bureau. Value of dwelling knowledge comes from Redfin and the Council for Neighborhood and Financial Analysis through the Missouri Financial Analysis and Data Middle. Tax charges come from the Tax Basis.
