10 Places in the U.S. where homes are the most expensive to buy, 5 of them are in California

A recent SmartAsset study found that half of the top ten most expensive places to buy a house in the United States in 2024 are in California.

With a typical house sale price of more than $1.5 million in 2024, San Jose, which is in the heart of Silicon Valley, topped the list. Prices in the city increased by 12% from the previous year.

The analysis discovered that all of the most costly metro areas had seen a rise in median house selling prices this year. It did this by analyzing Zillow’s housing data for the 100 largest metro areas in 2019, 2023, and 2024.

How much is it that we are discussing? The National Association of Realtors states that you would need to earn $468,252 in order to afford a typical property in the San Jose area.

The Golden State is currently facing a housing scarcity in addition to having some of the wealthiest zip codes in the nation. The state of California is a microcosm of a broader national trend, wherein property prices have risen by 47% since the start of 2020.

These are the top 10 most costly US locations for home purchases.

1. California’s San Jose

• $1,502,362 is the median home sale price.
• Growth since 2023: 12.9 percent
• Growth from 2019: 41%

2. The City of San Francisco

• $1,132,315 is the median home sale price.
• Growth from 2023: 10.8%
• 30.5% increase since 2019

3. Los Angeles

• $925,783 is the median home sale price.
• Growth until 2023: 10.6%
• Growth from 2019: 47.9%

4. San Diego

• $876,056 is the median home sale price.
• Growth until 2023: 9.4%
• Growth from 2019: 55.1%

5. California’s Oxnard

• $844,806 is the median home sale price.
• Growth from 2023: 8.2%
• Growth from 2019: 43%

6. Hawaii

• Price of a property sold on average: $696,729
• Growth from 2023: 6.6%
• Growth from 2019: 23.4%

7. Seattle

• Price of a property sold on average: $692,195
• Growth until 2023: 10.5%
• Growth from 2019: 53%

8. Boston

• Price of a property sold on average: $648,108
• Growth from 2023: 8.1%
• Growth from 2019: 47.9%

9. New York

• Price of a median property sold: $579,117
• Growth from 2023: 10.7%
• Growth from 2019: 49.2%

10. Denver

• $573,090 is the median home sale price.
• Growth from 2023: 3.0%
• 45.3% increase since 2019

Do you want to communicate effectively and with confidence? Enroll in the brand-new online course Master Public Speaking: Become an Effective Communicator from CNBC. We’ll show you how to control your anxiety, speak confidently and clearly, know what to say and not say, and use body language to your advantage when making a good first impression. Use the promo code EARLYBIRD when you sign up to receive a 30% introductory price through July 10, 2024.