The 25 most expensive housing markets in the US

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A residential street in San Francisco.
source
Richard Heyes/flickr

The most expensive housing markets in America are primarily packed into one state: California.

The Golden State dominates Coldwell Banker’s annual Home Listing Report, which ranks the most expensive places to purchase homes in America, claiming every spot in the top 10 and 18 total out of the top 25.

To determine the most expensive cities, Coldwell Banker analyzed the average listing price of more than 50,000 four-bedroom, two-bathroom homes for the period between January 2016 and June 2016. The ranking covered 2,168 markets across the US, excluding any with fewer than 10 listings.

So what makes California so desirable?

“It all goes back to the old adage in real estate about location, location, location,” Charlie Young, CEO of Coldwell Banker, told Business Insider. “In California, you’ve got a confluence of an amazing climate, strong economy with high-paying jobs, and a tech sector attracting a competitive environment.”

Looking even deeper, six cities within the top 10 can be found inside Silicon Valley, which makes sense given the multitude of growing tech companies that are paying top dollar to attract new employees – and homebuyers – to the area.

“In Silicon Valley, you’ve got Apple, you’ve got Google, you’ve got Facebook. You’ve got the big players in the new tech economy,” Young said. “For the foreseeable future, they’re there, and that’s going to drive those markets.”

And at the end of the day, “you can’t discount the fact that it’s California,” Young noted. It’s always been an aspirational place to live – and that isn’t likely to change any time soon.

Read on to check see which cities make up the 25 most expensive housing markets in America, where the average listing price is at least $1 million.


25. Walnut Creek, California

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City of Walnut Creek – City Hall/Facebook

Population: 68,910

Average cost of a 4-bedroom, 2-bathroom house: $1,004,900

Median household income: $80,399


24. San Jose, California

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Getty/Justin Sullivan

Population: 1,026,908

Average cost of a 4-bedroom, 2-bathroom house: $1,011,871

Median household income: $83,787


23. Concord, Massachusetts

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Town of Concord/Facebook

Population: 19,830

Average cost of a 4-bedroom, 2-bathroom house: $1,040,290

Median household income: $132,385


22. Cambridge, Massachusetts

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Jorge Salcedo/Shutterstock

Population: 110,402

Average cost of a 4-bedroom, 2-bathroom house: $1,057,120

Median household income: $75,909


21. Calabasas, California

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Patrick Pelletier/Wikimedia Commons

Population: 24,319

Average cost of a 4-bedroom, 2-bathroom house: $1,066,783

Median household income: $117,176


20. Bellevue, Washington

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City of Bellevue, Washington/Facebook

Population: 139,820

Average cost of a 4-bedroom, 2-bathroom house: $1,078,976

Median household income: $92,524


19. Pasadena, California

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HumbleOpinion/Facebook

Population: 142,250

Average cost of a 4-bedroom, 2-bathroom house: $1,082,091

Median household income: $70,845


18. San Rafael, California

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Flicker/Charles Nadeau

Population: 59,162

Average cost of a 4-bedroom, 2-bathroom house: $1,114,714

Median household income: $75,668


17. Westport, Connecticut

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Town of Westport/Facebook

Population: 27,899

Average cost of a 4-bedroom, 2-bathroom house: $1,119,279

Median household income: $151,771


16. Danville, California

source
Google Maps

Population: 44,400

Average cost of a 4-bedroom, 2-bathroom house: $1,152,886

Median household income: $140,616


15. Santa Barbara, California

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Bill Perry/Shutterstock

Population: 91,842

Average cost of a 4-bedroom, 2-bathroom house: $1,165,727

Median household income: $65,916


14. Honolulu, Hawaii

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Edmund Garman/Flickr

Population: 998,714

Average cost of a 4-bedroom, 2-bathroom house: $1,202,219

Median household income: $73,581


13. Wellesley, Massachusetts

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Wellesley Recreation/Facebook

Population: 29,000

Average cost of a 4-bedroom, 2-bathroom house: $1,294,684

Median household income: $159,615


12. Greenwich, Connecticut

source
Sotheby’s

Population: 62,695

Average cost of a 4-bedroom, 2-bathroom house: $1,349,048

Median household income: $135,258


11. San Mateo, California

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Shutterstock

Population: 103,536

Average cost of a 4-bedroom, 2-bathroom house: $1,425,200

Median household income: $90,087


10. Los Gatos, California

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Town of Los Gatos/Facebook

Population: 30,705

Average cost of a 4-bedroom, 2-bathroom house: $1,470,524

Median household income: $122,860


9. Sunnyvale, California

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City of Sunnyvale, California/Facebook

Population: 151,754

Average cost of a 4-bedroom, 2-bathroom house: $1,566,616

Median household income: $103,257


8. La Cañada Flintridge, California

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City of La Canada Flintridge/Facebook

Population: 20,590

Average cost of a 4-bedroom, 2-bathroom house: $1,571,846

Median household income: $151,786


7. San Francisco

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Richard Heyes/flickr

Population: 864,816

Average cost of a 4-bedroom, 2-bathroom house: $1,672,100

Median household income: $78,378


6. Carmel, California

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Carmel by the Sea/Facebook

Population: 3,722

Average cost of a 4-bedroom, 2-bathroom house: $1,722,500

Median household income: $62,460


5. Arcadia, California

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Google Maps

Population: 58,408

Average cost of a 4-bedroom, 2-bathroom house: $1,748,680

Median household income: $80,147


4. Redwood City, California

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Antti T. Nissinen/Flickr

Population: 85,288

Average cost of a 4-bedroom, 2-bathroom house: $1,807,068

Median household income: $81,955


3. Cupertino, California

source
Wikipedia

Population: 60,572

Average cost of a 4-bedroom, 2-bathroom house: $1,812,833

Median household income: $134,872


2. Newport Beach, California

source
Visit Newport Beach/Facebook

Population: 87,127

Average cost of a 4-bedroom, 2-bathroom house: $2,130,338

Median household income: $107,991


1. Saratoga, California

source
Point2Homes

Population: 30,968

Average cost of a 4-bedroom, 2-bathroom house: $2,453,718

Median household income: $167,917