Summary
San Jose, California, is the most expensive city in the United States for buying a home, with average prices around $1.43 million. A study by Badeloft USA reviewed 40 major cities and found other California cities, like San Francisco, San Diego, and Los Angeles, also rank high in terms of cost. Across the country, high home and rent prices continue to make housing unaffordable for many people.
Key Facts
- San Jose, California, is the priciest city for homebuyers with an average house price near $1.43 million.
- The study analyzed 40 major U.S. cities using data from sources like Zillow and Numbeo.
- California cities dominate the expensive list: San Francisco is second, San Diego third, and Los Angeles fourth.
- Seattle, Honolulu, and New York City also have high average home prices above $750,000.
- Washington, D.C., is the most desired city for homeownership despite high prices.
- Harvard found home prices rose in 97 of the 100 largest U.S. housing markets, with the Northeast and Midwest seeing steep increases.
- Many renters in the U.S. spend over 30% of their income on rent; 12.1 million are severely cost-burdened, spending more than half their income on housing.
- Top 10 most expensive U.S. cities include San Jose, San Francisco, San Diego, and Los Angeles.
