The 10 most expensive and least expensive housing markets in the U.S.
Story by: Monika Warzecha | BuzzBuzzHome
Calling California home can cost you. Coldwell Banker’s Home Listing Report for 2014 ranked 1,971 real estate markets across 50 states and the Golden State tops the list with a high number of pricey places to buy a house.
The real estate firm looked at 51,000 listings to come up with the average price for a four-bedroom, two-bathroom home. The result? Nine of the top 10 most expensive places to own a home in the United States are in California with Los Altos, of Silicon Valley fame, taking the top spot with an average price of $1,963,099.90. It’s followed by Newport Beach in Orange County and Saratoga in Santa Clara County.
However, a number of California markets also ranked quite low on the list. Adelanto, a town in San Bernardino County, came last in the state with an overall ranking of 1,839 and an average home price of $149,727.71.
The least expensive places on the list of nearly 2,000 were far more varied by state, though a number of the markets were located in the Rust Belt. Cleveland, Ohio was the least expensive with an average price of $64,993.03. Other cities at the bottom of the list include Riverdale, Georgia and Park Forest, Illinois.
Here’s a closer look at both extremes of the report:
Top 10 most expensive markets
1. Los Altos, CA; Average price: $1,963,099.90
2. Newport Beach, CA; Average price: $1,904,083.25
3. Saratoga, CA; Average price: $1,867,979.69
4. Redwood City/Woodside, CA; Average price: $1,430,329.24
5. Los Gatos, CA; Average price: $1,307,408.04
6. San Francisco, CA; Average price: $1,294,250.00
7. Sunnyvale,CA; Average price: $1,267,184.74
8. Moraga, CA; Average price: $1,129,300.00
9. San Mateo, CA; Average price: $1,093,346.15
10. Wellesley, MA; Average price: $1,090,088.83
The 10 least expensive markets
1. Cleveland, OH; Average price: $64,993.03
2. Riverdale, GA; Average price: $68,206.85
3. Park Forest, IL; Average price: $75,647.06
4. Lake Wales, FL; Average price: $82,330.00
5. Lithonia, GA; Average price: $94,076.47
6. Buffalo, NY; Average price: $97,288.00
7. Waukegan, IL; Average price: $98,226.39
8. Augusta, GA; Average price: $98,232.81
9. Cheektowaga, NY; Average price: $101,475.00
10. Utica, NY: Average price: $107,211.35
The complete ranking of all 1,971 markets for 2014 can be found here.
For more data-driven market news, check out our interactive map of where the US housing recovery is — and isn’t — take place.