Special Report

Most Expensive Housing Market in Every State

Michael B. Sauter

Published: August 17, 2018 1:49 pm

Last Updated: March 13, 2020 5:54 pm

The U.S. economic recovery and continued growth have had many positive effects on the nation and the population. For at least one group, however, the improving economy has had a negative impact — for potential homebuyers.

Along with incomes and low unemployment, the housing market continues to grow. The median sale price of a U.S. home is now close to a third of a million dollars, or over $100,000 more than it was just a decade ago.

Of course, housing markets are different from one another. While some might still be relatively inexpensive, others are well out of range for most Americans.

To determine the county with the most expensive housing market in every state, 24/7 Wall St. reviewed median home values of 3,119 counties and county equivalents as of the second quarter of 2017 from the National Association of Realtors. In the most expensive markets in states like New York, Massachusetts, California, and Virginia, the typical home is valued at well over $750,000. In California, the most expensive market has a median value in excess of $1 million. In other states, the most expensive market barely tops $200,000.

Click here to see the most expensive housing market in every state.
Click here to see our detailed findings and methodology.

Source: Rivers Langley; SaveRivers / Wikimedia Commons

1. Alabama
> Most expensive housing market: Shelby County
> Median home price: $213,550
> Median mortgage payment: $863
> Median household income: $72,310 (State: $46,257)
> Pct. homes valued $1,000,000+: 0.8%

Source: filo / Getty Images

2. Alaska
> Most expensive housing market: Sitka City and Borough
> Median home price: $375,056
> Median mortgage payment: $1,516
> Median household income: $70,160 (State: $76,440)
> Pct. homes valued $1,000,000+: 0.2%

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Source: Zeb Micelli / Wikimedia Commons

3. Arizona
> Most expensive housing market: Maricopa County
> Median home price: $265,696
> Median mortgage payment: $1,074
> Median household income: $55,676 (State: $53,558)
> Pct. homes valued $1,000,000+: 1.9%

Source: Brandonrush / Wikimedia Commons

4. Arkansas
> Most expensive housing market: Benton County
> Median home price: $187,490
> Median mortgage payment: $758
> Median household income: $59,016 (State: $44,334)
> Pct. homes valued $1,000,000+: 0.7%

Source: Thinkstock

5. California
> Most expensive housing market: San Francisco County
> Median home price: $1,087,599
> Median mortgage payment: $4,395
> Median household income: $87,701 (State: $67,739)
> Pct. homes valued $1,000,000+: 35.9%

Source: Darren_Bridges_Photography / iStock

6. Colorado
> Most expensive housing market: Pitkin County
> Median home price: $748,919
> Median mortgage payment: $3,027
> Median household income: $69,789 (State: $65,685)
> Pct. homes valued $1,000,000+: 33.7%

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Source: Thinkstock

7. Connecticut
> Most expensive housing market: Fairfield County
> Median home price: $429,548
> Median mortgage payment: $1,736
> Median household income: $86,670 (State: $73,433)
> Pct. homes valued $1,000,000+: 14.2%

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Source: JERRYE and ROY KLOTZ MD / Wikimedia Commons

8. Delaware
> Most expensive housing market: New Castle County
> Median home price: $276,771
> Median mortgage payment: $1,119
> Median household income: $66,283 (State: $61,757)
> Pct. homes valued $1,000,000+: 1.0%

Source: Rauluminate / iStock

9. Florida
> Most expensive housing market: Monroe County
> Median home price: $454,051
> Median mortgage payment: $1,835
> Median household income: $60,303 (State: $50,860)
> Pct. homes valued $1,000,000+: 10.5%

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Source: Thomson200 / Wikimedia Commons / Public Domain

10. Georgia
> Most expensive housing market: Forsyth County
> Median home price: $346,839
> Median mortgage payment: $1,402
> Median household income: $91,842 (State: $53,559)
> Pct. homes valued $1,000,000+: 0.9%

Source: Thinkstock

11. Hawaii
> Most expensive housing market: Honolulu County
> Median home price: $705,856
> Median mortgage payment: $2,853
> Median household income: $77,161 (State: $74,511)
> Pct. homes valued $1,000,000+: 12.0%

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Source: Thinkstock

12. Idaho
> Most expensive housing market: Blaine County
> Median home price: $456,220
> Median mortgage payment: $1,844
> Median household income: $58,086 (State: $51,807)
> Pct. homes valued $1,000,000+: 16.6%

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Source: DenisTangneyJr / Getty Images

13. Illinois
> Most expensive housing market: DuPage County
> Median home price: $316,749
> Median mortgage payment: $1,280
> Median household income: $81,521 (State: $60,960)
> Pct. homes valued $1,000,000+: 3.0%

Source: Thinkstock

14. Indiana
> Most expensive housing market: Hamilton County
> Median home price: $259,934
> Median mortgage payment: $1,051
> Median household income: $87,782 (State: $52,314)
> Pct. homes valued $1,000,000+: 1.3%

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Source: Stephen Matthew Milligan / Wikimedia Commons

15. Iowa
> Most expensive housing market: Dallas County
> Median home price: $225,413
> Median mortgage payment: $911
> Median household income: $78,918 (State: $56,247)
> Pct. homes valued $1,000,000+: 0.3%

Source: Stephen Edmonds / Flickr

16. Kansas
> Most expensive housing market: Johnson County
> Median home price: $260,490
> Median mortgage payment: $1,053
> Median household income: $78,186 (State: $54,935)
> Pct. homes valued $1,000,000+: 1.5%

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Source: dadonk / iStock

17. Kentucky
> Most expensive housing market: Oldham County
> Median home price: $289,783
> Median mortgage payment: $1,171
> Median household income: $86,324 (State: $46,659)
> Pct. homes valued $1,000,000+: 1.7%

Source: Thinkstock

18. Louisiana
> Most expensive housing market: Orleans Parish
> Median home price: $234,627
> Median mortgage payment: $948
> Median household income: $37,488 (State: $45,146)
> Pct. homes valued $1,000,000+: 2.6%

Source: Rapidfire / Wikimedia Commons

19. Maine
> Most expensive housing market: Cumberland County
> Median home price: $286,624
> Median mortgage payment: $1,158
> Median household income: $61,902 (State: $53,079)
> Pct. homes valued $1,000,000+: 1.4%

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Source: krblokhin / iStock

20. Maryland
> Most expensive housing market: Montgomery County
> Median home price: $516,442
> Median mortgage payment: $2,087
> Median household income: $100,352 (State: $78,945)
> Pct. homes valued $1,000,000+: 9.0%

Source: Thinkstock

21. Massachusetts
> Most expensive housing market: Nantucket County
> Median home price: $977,237
> Median mortgage payment: $3,949
> Median household income: $89,428 (State: $75,297)
> Pct. homes valued $1,000,000+: 47.1%

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Source: Hgjudd / Wikimedia Commons

22. Michigan
> Most expensive housing market: Leelanau County
> Median home price: $281,979
> Median mortgage payment: $1,140
> Median household income: $59,018 (State: $52,492)
> Pct. homes valued $1,000,000+: 6.4%

Source: Tony Webster from Minneapolis, Minnesota, United States / Wikimedia Commons

23. Minnesota
> Most expensive housing market: Carver County
> Median home price: $329,383
> Median mortgage payment: $1,331
> Median household income: $88,638 (State: $65,599)
> Pct. homes valued $1,000,000+: 1.7%

Source: Bill Herndon / Flickr

24. Mississippi
> Most expensive housing market: Madison County
> Median home price: $215,215
> Median mortgage payment: $870
> Median household income: $65,924 (State: $41,754)
> Pct. homes valued $1,000,000+: 2.8%

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Source: benkrut / iStock

25. Missouri
> Most expensive housing market: Platte County
> Median home price: $222,358
> Median mortgage payment: $899
> Median household income: $70,879 (State: $51,746)
> Pct. homes valued $1,000,000+: 0.7%

Source: Tim Evanson / Wikimedia Commons

26. Montana
> Most expensive housing market: Gallatin County
> Median home price: $319,440
> Median mortgage payment: $1,291
> Median household income: $57,021 (State: $50,027)
> Pct. homes valued $1,000,000+: 3.9%

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Source: Public Domain / Wikimedia Commons

27. Nebraska
> Most expensive housing market: Washington County
> Median home price: $206,862
> Median mortgage payment: $836
> Median household income: $65,565 (State: $56,927)
> Pct. homes valued $1,000,000+: 0.3%

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Source: Famartin / Wikimedia Commons

28. Nevada
> Most expensive housing market: Douglas County
> Median home price: $369,794
> Median mortgage payment: $1,494
> Median household income: $59,769 (State: $55,180)
> Pct. homes valued $1,000,000+: 4.4%

Source: Kirkikis / iStock

29. New Hampshire
> Most expensive housing market: Rockingham County
> Median home price: $329,449
> Median mortgage payment: $1,331
> Median household income: $82,398 (State: $70,936)
> Pct. homes valued $1,000,000+: 1.6%

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Source: Doug Kerr from Albany, NY, United States / Wikimedia Commons

30. New Jersey
> Most expensive housing market: Bergen County
> Median home price: $484,775
> Median mortgage payment: $1,959
> Median household income: $88,487 (State: $76,126)
> Pct. homes valued $1,000,000+: 7.0%

Source: John Phelan / Wikimedia Commons

31. New Mexico
> Most expensive housing market: Santa Fe County
> Median home price: $312,757
> Median mortgage payment: $1,264
> Median household income: $55,370 (State: $46,748)
> Pct. homes valued $1,000,000+: 3.9%

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Source: Thinkstock

32. New York
> Most expensive housing market: New York County
> Median home price: $932,366
> Median mortgage payment: $3,768
> Median household income: $75,513 (State: $62,909)
> Pct. homes valued $1,000,000+: 43.0%

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Source: Caroline Culler (User:Wgreaves) / Wikimedia Commons

33. North Carolina
> Most expensive housing market: Orange County
> Median home price: $312,333
> Median mortgage payment: $1,262
> Median household income: $61,130 (State: $50,584)
> Pct. homes valued $1,000,000+: 2.8%

Source: Jim Roberts / Wikimedia Commons

34. North Dakota
> Most expensive housing market: Burleigh County
> Median home price: $251,682
> Median mortgage payment: $1,017
> Median household income: $66,057 (State: $60,656)
> Pct. homes valued $1,000,000+: 0.6%

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Source: Nyttend / Wikimedia Commons

35. Ohio
> Most expensive housing market: Delaware County
> Median home price: $327,088
> Median mortgage payment: $1,322
> Median household income: $94,234 (State: $52,334)
> Pct. homes valued $1,000,000+: 0.8%

Source: David Dobbs / Wikimedia Commons

36. Oklahoma
> Most expensive housing market: McClain County
> Median home price: $174,667
> Median mortgage payment: $706
> Median household income: $58,673 (State: $49,176)
> Pct. homes valued $1,000,000+: 0.7%

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Source: Visitor7 / Wikimedia Commons

37. Oregon
> Most expensive housing market: Clackamas County
> Median home price: $413,249
> Median mortgage payment: $1,670
> Median household income: $68,915 (State: $57,532)
> Pct. homes valued $1,000,000+: 2.7%

Source: Smallbones / Wikimedia Commons

38. Pennsylvania
> Most expensive housing market: Chester County
> Median home price: $367,373
> Median mortgage payment: $1,485
> Median household income: $88,995 (State: $56,907)
> Pct. homes valued $1,000,000+: 2.9%

Source: chensiyuan / Wikimedia Commons

39. Rhode Island
> Most expensive housing market: Newport County
> Median home price: $404,994
> Median mortgage payment: $1,637
> Median household income: $71,347 (State: $60,596)
> Pct. homes valued $1,000,000+: 7.1%

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Source: ProfReader / Wikimedia Commons

40. South Carolina
> Most expensive housing market: Charleston County
> Median home price: $330,409
> Median mortgage payment: $1,335
> Median household income: $54,931 (State: $49,501)
> Pct. homes valued $1,000,000+: 5.5%

Source: puroticorico / Wikimedia Commons

41. South Dakota
> Most expensive housing market: Custer County
> Median home price: $246,200
> Median mortgage payment: $995
> Median household income: $52,891 (State: $54,467)
> Pct. homes valued $1,000,000+: 1.4%

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Source: csfotoimages / iStock

42. Tennessee
> Most expensive housing market: Williamson County
> Median home price: $453,433
> Median mortgage payment: $1,833
> Median household income: $100,140 (State: $48,547)
> Pct. homes valued $1,000,000+: 4.0%

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Source: Larry D. Moore / Wikimedia Commons

43. Texas
> Most expensive housing market: Kendall County
> Median home price: $356,824
> Median mortgage payment: $1,442
> Median household income: $76,350 (State: $56,565)
> Pct. homes valued $1,000,000+: 6.0%

Source: J. Stephen Conn / Flickr

44. Utah
> Most expensive housing market: Summit County
> Median home price: $653,466
> Median mortgage payment: $2,641
> Median household income: $91,470 (State: $65,977)
> Pct. homes valued $1,000,000+: 16.9%

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Source: Thinkstock

45. Vermont
> Most expensive housing market: Chittenden County
> Median home price: $297,508
> Median mortgage payment: $1,202
> Median household income: $66,414 (State: $57,677)
> Pct. homes valued $1,000,000+: 1.2%

Source: Thinkstock

46. Virginia
> Most expensive housing market: Falls Church city
> Median home price: $850,801
> Median mortgage payment: $3,438
> Median household income: $115,244 (State: $68,114)
> Pct. homes valued $1,000,000+: 15.4%

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Source: Michael Feist / Wikimedia Commons

47. Washington
> Most expensive housing market: San Juan County
> Median home price: $565,568
> Median mortgage payment: $2,286
> Median household income: $58,029 (State: $67,106)
> Pct. homes valued $1,000,000+: 11.6%

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Source: Jim Surkamp / Flickr

48. West Virginia
> Most expensive housing market: Jefferson County
> Median home price: $245,334
> Median mortgage payment: $992
> Median household income: $69,753 (State: $43,385)
> Pct. homes valued $1,000,000+: 0.8%

Source: Thinkstock

49. Wisconsin
> Most expensive housing market: Waukesha County
> Median home price: $285,462
> Median mortgage payment: $1,154
> Median household income: $78,268 (State: $56,811)
> Pct. homes valued $1,000,000+: 1.2%

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Source: Thinkstock

50. Wyoming
> Most expensive housing market: Teton County
> Median home price: $747,676
> Median mortgage payment: $3,022
> Median household income: $75,594 (State: $59,882)
> Pct. homes valued $1,000,000+: 28.3%

Even in low-income states, the most expensive housing market has a median home value of at least $250,000, but there are exceptions. In Oklahoma, the most expensive housing market has a median of 174,667, which is less than 826 other counties across the country.

While relatively expensive, these markets are not necessarily unaffordable. Of the 50 counties with the most expensive housing markets in their state, close to half also report the state’s highest incomes. In Virginia’s Falls Church, the median home value is $850,801, and the median annual household income is about $115,000. Over 25% of Falls Church households earn $200,000 or more a year, the highest share of any U.S. county.

To determine the county with the most expensive housing market in every state, 24/7 Wall St. reviewed median home prices in the 3,199 county and county-equivalents as aggregated by the National Association of Realtors for the second quarter of 2017. Monthly payments for the median home price for the same time period are also from the NAR and assume a fixed 30-year mortgage with a 3.5% interest rate and a 10% down payment. Median household incomes for each county come from the U.S. Census Bureau’s 2016 American Consumer Survey.