These are the most expensive housing markets in America, according to Zillow data

Want more housing market stories from Lance Lambert’s ResiClub in your inbox? Subscribe to the ResiClub newsletter. The typical home in the U.S. is valued at $362,143. But just how much does that figure vary across the country? To find out, we took a closer look at the Zillow Home Value Index, which reflects the typical value for local homes in the 35th to 65th percentile range. It’s similar to a median price. You can view an interactive map here. These 20 U.S. counties have the highest typical home value, according to Zillow data: Nantucket County, Massachusetts: $2,731,555 Pitkin County, Colorado: $2,394,335 Teton County, Wyoming: $2,209,317 Santa Clara County, California: $1,597,328 San Mateo County, California: $1,549,979 Dukes County, Massachusetts: $1,518,343 San Miguel County, Colorado: $1,498,272 Marin County, California: $1,451,674 Eagle County, Colorado: $1,329,145 Summit County, Utah: $1,265,911 San Francisco County: $1,259,022 Santa Cruz County, California: $1,151,920 New York County (Manhattan): $1,140,576 Orange County, California: $1,139,100 Alameda County, California: $1,120,141 Routt County, Colorado: $1,098,121 Maui County, Hawaii: $1,060,873 Monroe County, Florida: $1,012,255 Summit County, Colorado: $982,069 Kauai County, Hawaii: $980,182 Many of the housing markets where home values are the highest are located in desirable coastal areas. These housing markets are often higher-income, lack a sizable production builder presence, face significant geographical and regulatory building constraints, and are hot spots for knockdown-rebuild development. In the most expensive pockets of the country, land is often worth more than the property structure. In particular, in the Western half of the country, where many analysts believe the housing shortage is more acute, home prices have soared to levels well above the national average over the past decade. This significant increase has coincided with the region’s tech boom, which greatly contributed to income and wealth growth in the West. Keep in mind that within counties, there can be massive variation in home values, especially among different school districts.

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Sep 21, 2024 - 17:00
These are the most expensive housing markets in America, according to Zillow data

Want more housing market stories from Lance Lambert’s ResiClub in your inbox? Subscribe to the ResiClub newsletter.

The typical home in the U.S. is valued at $362,143.

But just how much does that figure vary across the country? To find out, we took a closer look at the Zillow Home Value Index, which reflects the typical value for local homes in the 35th to 65th percentile range. It’s similar to a median price.

You can view an interactive map here.

These 20 U.S. counties have the highest typical home value, according to Zillow data:

  1. Nantucket County, Massachusetts: $2,731,555
  2. Pitkin County, Colorado: $2,394,335
  3. Teton County, Wyoming: $2,209,317
  4. Santa Clara County, California: $1,597,328
  5. San Mateo County, California: $1,549,979
  6. Dukes County, Massachusetts: $1,518,343
  7. San Miguel County, Colorado: $1,498,272
  8. Marin County, California: $1,451,674
  9. Eagle County, Colorado: $1,329,145
  10. Summit County, Utah: $1,265,911
  11. San Francisco County: $1,259,022
  12. Santa Cruz County, California: $1,151,920
  13. New York County (Manhattan): $1,140,576
  14. Orange County, California: $1,139,100
  15. Alameda County, California: $1,120,141
  16. Routt County, Colorado: $1,098,121
  17. Maui County, Hawaii: $1,060,873
  18. Monroe County, Florida: $1,012,255
  19. Summit County, Colorado: $982,069
  20. Kauai County, Hawaii: $980,182

Many of the housing markets where home values are the highest are located in desirable coastal areas. These housing markets are often higher-income, lack a sizable production builder presence, face significant geographical and regulatory building constraints, and are hot spots for knockdown-rebuild development. In the most expensive pockets of the country, land is often worth more than the property structure.

In particular, in the Western half of the country, where many analysts believe the housing shortage is more acute, home prices have soared to levels well above the national average over the past decade. This significant increase has coincided with the region’s tech boom, which greatly contributed to income and wealth growth in the West.

Keep in mind that within counties, there can be massive variation in home values, especially among different school districts.