TOP 10 MOST EXPENSIVE HOUSING MARKETS IN THE US

In the U.S., some of the most outrageous housing markets in the world, with the average price of housing in some of the cities way up beyond the national average. Among the attributes of high prices are limited availability of land, high demand, and economic prosperity. Based on the figures from the Council for Community and Economic Research (C2ER) and other reliable sources, here is the list of 10 top most expensive housing markets in the U.S.: ​

1. Manhattan, New York

Average Home Price: $2,810,308​

Median Household Income: $101,078​

Premium to U.S. Average: 399.7%​

Manhattan is at the top with an average home price of approximately 5 times the national average. This is due to a lack of land space and high demand posing high prices. Monthly mortgage payments average around $14,424, while average rent is about $5,701 per month. ​Thus making Manhattan some of the most expensive real estate in the U.S. and thereby offering the country’s most expensive house.

2. San Jose, California

Average Home Price: $1,923,230​

Median Household Income: $153,202​

Premium to U.S. Average: 234.9%​

The housing market in San Jose, a tech hub, mirrors the affluence of its citizens. They have an average home price of about 3.7 times the national average, and utility costs are also much higher. Regardless of income, the city has a huge challenge with a high cost of living and being one of the most expensive real estate in the us. ​

3. Honolulu, Hawaii

Average Home Price: $1,644,173​

Median Household Income: $84,907​

Premium to U.S. Average: 202.6%​

Another cost of living in paradise is Honolulu. Since it has no land communication with the mainland, it serves to reason that transport of goods and services to Hawaii will include some consideration of this fact; hence higher prices for everything, including housing. Average mortgage payments are around $7,859 per month and rents average $4,677 monthly making it one of the most expensive real estate in us. ​

4. Brooklyn-New York

Average Home Price: $1,395,489 ​

Median Household Income: $76,912 ​

Premium to U.S. Average: 173.7% ​

Same as with various areas originally considered the affordable option to Manhattan, Brooklyn now possesses housing costs nearly thrice the national average. Since its median household income is slightly lower than the median national income, the housing prices are, nevertheless, beginning to take off. ​

5. Orange County, CA

Average Home Price: $1,509,257 ​

Median Household Income: $110,042 ​

Premium to U.S. Average: 166.6% ​

Orange County is home to many rich communities, and their average house price is over $1.5 million. Renters in the area face an average rent of $3,178 per month, which is more than double the national average. ​

6. Queens-New York

Average Home Price: $1,323,984 ​

Median Household Income: $81,929 ​

Premium to U.S. Average: 157.5% ​

Queens is continuously growing in popularity, and therefore housing costs are increasing. Mortgage payments hover around $6,795 per month, while rents are about $3,830 a month on average. ​

Also Read :- Overview of us Real Estate Market in 2025

7. San Francisco-California

Average Home Price: $1,369,694 ​

Median Household Income: $138,562 ​

Premium to U.S. Average: 152% ​

Housing prices boom in San Francisco, courtesy of the tech economy. The median home value is about $1,424,900, while average mortgage payments are estimated to be about $6,634 a month. Average rents are $3,862 a month. ​

8. Los Angeles, California

1. Average Home Price: $1,342,193​
2. Median Household Income: $79,701​
3. Premium to U.S. Average: 133.1%​

Sprinkle in allure, Hollywood, and coastal living, and you get a sky-high housing economy. The median home value is about $919,900, while rent averages around $2,978 per month. ​

9. Boston, Massachusetts

1. Average Home Price: $1,070,817​
2. Median Household Income: $96,931​
3. Premium to U.S. Average: 126%​

Boston’s history and great educational institutions render it a desirable place with expensive housing. Home values are about $703,600, and loan payments go for an average of $5,436 per month. ​

10. San Diego, California

1. Average Home Price: $1,153,380
2. Median Household Income: $105,780
3. Premium to U.S. Average: 113.2%

Coastal geography, blossoming biotech and defense industries, and mild year-round climate make San Diego a prime residential location. While home prices are lower than those of neighboring Orange County or San Francisco, they are nevertheless well above the national average. Mortgage payments are around $5,248 per month on average, while average monthly rent is pegged at $3,053.

Conclusion

Housing markets reflect a combination of geographic desirability, economic opportunity, and limited supply, which significantly drive up prices and create some of the most expensive housing markets in the U.S. While cities with high median incomes can seem appealing, many residents still struggle with affordability.

So if you are contemplating a move to one of these cities, be sure to proceed thoughtfully, weighing your income against your lifestyle aspirations and long-term financial plan. In Manhattan, San Jose, or Honolulu, even a reasonable salary may not go as far as you think.