The top 5 most expensive places to purchase a home in the U.S. are all located in California.

The top 5 most expensive places to purchase a home in the U.S. are all located in California.
The top 5 most expensive places to purchase a home in the U.S. are all located in California.

In 2024, California will have half of the 10 priciest U.S. home buying locations, as per a recent SmartAsset study.

In 2024, San Jose, located in the heart of Silicon Valley, had a median home sale price of over $1.5 million, representing a 12% increase from the previous year.

In 2019, 2023, and 2024, a study of Zillow's housing data for the 100 largest metro areas found that median home sale prices have increased in all of the most expensive metro areas this year.

To afford a typical home in San Jose, you would need to earn $468,252, as per the National Association of Realtors.

Despite being home to some of the nation's wealthiest zip codes, California is currently facing a housing shortage. This trend is mirrored nationally, with home prices increasing by 47% since the beginning of 2020.

The 10 priciest locations in the U.S. for purchasing a home.

1. San Jose, California

  • Median home sale price: $1,502,362
  • Increase since 2023: 12.9%
  • Increase since 2019: 41%

2. San Francisco

  • Median home sale price: $1,132,315
  • Increase since 2023: 10.8%
  • Increase since 2019: 30.5%

3. Los Angeles

  • Median home sale price: $925,783
  • Increase since 2023: 10.6%
  • Increase since 2019: 47.9%

4. San Diego

  • Median home sale price: $876,056
  • Increase since 2023: 9.4%
  • Increase since 2019: 55.1%

5. Oxnard, California

  • Median home sale price: $844,806
  • Increase since 2023: 8.2%
  • Increase since 2019: 43%

6. Honolulu

  • Median home sale price: $696,729
  • Increase since 2023: 6.6%
  • Increase since 2019: 23.4%

7. Seattle

  • Median home sale price: $692,195
  • Increase since 2023: 10.5%
  • Increase since 2019: 53%

8. Boston

  • Median home sale price: $648,108
  • Increase since 2023: 8.1%
  • Increase since 2019: 47.9%

9. New York

  • Median home sale price: $579,117
  • Increase since 2023: 10.7%
  • Increase since 2019: 49.2%

10. Denver

  • Median home sale price: $573,090
  • Increase since 2023: 3.0%
  • Increase since 2019: 45.3%

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