In the early months of the COVID-19 pandemic, U.S. home sales slumped. Since then, however, the market has come roaring back — and rising demand, in conjunction with a relatively low supply of housing, has caused home values to surge.
According to estimates from Zillow, a Seattle-based real estate data company, between January 2020 and January 2021, the typical single-family American home appreciated in value from $246,563 to $269,039, a 9.1% increase. Of course, housing markets also respond to local forces, and in some parts of the country, home values have appreciated at more than double the national rate.
In 50 cities and towns with populations of 35,000 or more, home values have appreciated by at least 16% over the past year. In some of them, the value of a typical family home has surged by more than 24%. Though these communities span the country, they tend to be concentrated in the Western United States.
One factor that can contribute to rapidly climbing home prices at a local level is demand. And demand for housing is often precipitated by a growing population. According to the most recent available Census data, 33 of the 50 cities and towns on this list reported population growth over the last one-year period.
Home prices are also largely dictated by what local residents can afford, and rising home values can often be the result of rising incomes. Of the 50 places on this list for which income data is available, 48 reported year-over-year growth in median household income, based on the most recent available data Census data.
Source: DenisTangneyJr / Getty Images
50. Wichita Falls, Texas
> 1-yr. change in median home value: +16.2% (+$16,208)
> Median home value; January 2021: $116,290
> 1-yr. population change: –0.2% (-215)
> Population: 104,279
> 1-yr. change in median household income: +4.4% (+$2,000)
> Median household income: $47,476
This is How Much Home You Can Buy For 200K in Every State
Source: Christopher Harris / iStock via Getty Images
49. Queen Creek, Arizona
> 1-yr. change in median home value: +16.4% (+$52,823)
> Median home value; January 2021: $375,848
> 1-yr. population change: +19.6% (+7,076)
> Population: 43,129
> 1-yr. change in median household income: +7.7% (+$7,515)
> Median household income: $105,729
This is How Much Home You Can Buy For 200K in Every State
Source: Greg Thomsen / iStock via Getty Images
48. Peoria, Arizona
> 1-yr. change in median home value: +16.4% (+$49,549)
> Median home value; January 2021: $352,263
> 1-yr. population change: +2.2% (+3,624)
> Population: 168,196
> 1-yr. change in median household income: +3.1% (+$2,284)
> Median household income: $75,323
This is How Much Home You Can Buy For 200K in Every State
Source: DenisTangneyJr / Getty Images
47. Saginaw, Michigan
> 1-yr. change in median home value: +16.4% (+$11,165)
> Median home value; January 2021: $79,198
> 1-yr. population change: –0.7% (-347)
> Population: 48,650
> 1-yr. change in median household income: -1.0% (-$303)
> Median household income: $29,582
This is How Much Home You Can Buy For 200K in Every State
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46. Stratford, Connecticut
> 1-yr. change in median home value: +16.5% (+$42,706)
> Median home value; January 2021: $301,755
> 1-yr. population change: –0.3% (-159)
> Population: 52,120
> 1-yr. change in median household income: +4.7% (+$3,585)
> Median household income: $79,430
This is How Much Home You Can Buy For 200K in Every State
Source: jmoor17 / Getty Images
45. Bremerton, Washington
> 1-yr. change in median home value: +16.5% (+$54,433)
> Median home value; January 2021: $384,462
> 1-yr. population change: +1.0% (+411)
> Population: 40,631
> 1-yr. change in median household income: +4.8% (+$2,405)
> Median household income: $52,716
This is How Much Home You Can Buy For 200K in Every State
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44. Lakewood, Washington
> 1-yr. change in median home value: +16.5% (+$57,110)
> Median home value; January 2021: $403,272
> 1-yr. population change: +0.8% (+505)
> Population: 60,111
> 1-yr. change in median household income: +3.6% (+$1,797)
> Median household income: $51,972
This is How Much Home You Can Buy For 200K in Every State
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43. Huntsville, Alabama
> 1-yr. change in median home value: +16.5% (+$28,874)
> Median home value; January 2021: $203,757
> 1-yr. population change: +1.3% (+2,556)
> Population: 196,219
> 1-yr. change in median household income: +2.7% (+$1,465)
> Median household income: $55,305
This is How Much Home You Can Buy For 200K in Every State
Source: roadgeek / Flickr
42. West Haven, Connecticut
> 1-yr. change in median home value: +16.7% (+$32,615)
> Median home value; January 2021: $227,615
> 1-yr. population change: –0.3% (-155)
> Population: 54,763
> 1-yr. change in median household income: +8.4% (+$4,873)
> Median household income: $62,985
This is How Much Home You Can Buy For 200K in Every State
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41. Newark, New Jersey
> 1-yr. change in median home value: +16.7% (+$48,192)
> Median home value; January 2021: $335,932
> 1-yr. population change: +0.2% (+591)
> Population: 281,054
> 1-yr. change in median household income: +0.1% (+$18)
> Median household income: $35,199
This is How Much Home You Can Buy For 200K in Every State
Source: Public Domain / Wikimedia Commons
40. La Mesa, California
> 1-yr. change in median home value: +16.8% (+$96,496)
> Median home value; January 2021: $671,598
> 1-yr. population change: -0.0% (-6)
> Population: 59,556
> 1-yr. change in median household income: +3.3% (+$2,104)
> Median household income: $66,051
This is How Much Home You Can Buy For 200K in Every State
Source: smontgom65 / iStock via Getty Images
39. Muskegon, Michigan
> 1-yr. change in median home value: +16.8% (+$16,783)
> Median home value; January 2021: $116,740
> 1-yr. population change: –0.9% (-336)
> Population: 37,633
> 1-yr. change in median household income: +5.5% (+$1,696)
> Median household income: $32,433
This is How Much Home You Can Buy For 200K in Every State
Source: SeanPavonePhoto / Getty Images
38. Augusta, Georgia
> 1-yr. change in median home value: +16.8% (+$18,752)
> Median home value; January 2021: $130,111
> 1-yr. population change: +0.2% (+384)
> Population: 197,191
> 1-yr. change in median household income: +5.0% (+$2,047)
> Median household income: $42,592
This is How Much Home You Can Buy For 200K in Every State
Source: dszc / Getty Images
37. Tempe, Arizona
> 1-yr. change in median home value: +16.9% (+$52,322)
> Median home value; January 2021: $362,042
> 1-yr. population change: +2.1% (+3,802)
> Population: 187,454
> 1-yr. change in median household income: +7.0% (+$3,784)
> Median household income: $57,994
This is How Much Home You Can Buy For 200K in Every State
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36. Kansas City, Kansas
> 1-yr. change in median home value: +17.0% (+$19,887)
> Median home value; January 2021: $137,138
> 1-yr. population change: +0.3% (+453)
> Population: 152,522
> 1-yr. change in median household income: +4.8% (+$2,092)
> Median household income: $45,665
This is How Much Home You Can Buy For 200K in Every State
Source: Publichall / Wikimedia Commons
35. Anderson, Indiana
> 1-yr. change in median home value: +17.0% (+$11,902)
> Median home value; January 2021: $81,984
> 1-yr. population change: –0.5% (-275)
> Population: 54,513
> 1-yr. change in median household income: +2.9% (+$1,053)
> Median household income: $37,038
This is How Much Home You Can Buy For 200K in Every State
Source: DavidByronKeener / Getty Images
34. Idaho Falls, Idaho
> 1-yr. change in median home value: +17.1% (+$40,417)
> Median home value; January 2021: $276,605
> 1-yr. population change: +2.2% (+1,312)
> Population: 61,459
> 1-yr. change in median household income: +5.3% (+$2,666)
> Median household income: $53,148
This is How Much Home You Can Buy For 200K in Every State
Source: LifeImagesbyGloria / iStock via Getty Images
33. Santee, California
> 1-yr. change in median home value: +17.4% (+$90,777)
> Median home value; January 2021: $612,751
> 1-yr. population change: +0.3% (+182)
> Population: 57,797
> 1-yr. change in median household income: +4.3% (+$3,565)
> Median household income: $87,098
This is How Much Home You Can Buy For 200K in Every State
Source: halbergman / Getty Images
32. Tacoma, Washington
> 1-yr. change in median home value: +17.5% (+$59,987)
> Median home value; January 2021: $403,028
> 1-yr. population change: +1.3% (+2,766)
> Population: 212,869
> 1-yr. change in median household income: +6.4% (+$3,741)
> Median household income: $62,358
This is How Much Home You Can Buy For 200K in Every State
Source: Marine 69-71 / Wikimedia Commons
31. Buckeye, Arizona
> 1-yr. change in median home value: +17.6% (+$43,697)
> Median home value; January 2021: $291,882
> 1-yr. population change: +6.3% (+4,114)
> Population: 69,744
> 1-yr. change in median household income: +8.8% (+$5,775)
> Median household income: $71,707
This is How Much Home You Can Buy For 200K in Every State
Source: CircleEyes / iStock Editorial via Getty Images
30. Prescott Valley, Arizona
> 1-yr. change in median home value: +17.7% (+$50,890)
> Median home value; January 2021: $338,740
> 1-yr. population change: +2.6% (+1,113)
> Population: 44,311
> 1-yr. change in median household income: +7.3% (+$3,534)
> Median household income: $51,909
This is How Much Home You Can Buy For 200K in Every State
Source: benkrut / Getty Images
29. Dayton, Ohio
> 1-yr. change in median home value: +17.8% (+$11,672)
> Median home value; January 2021: $77,401
> 1-yr. population change: –0.2% (-213)
> Population: 140,569
> 1-yr. change in median household income: +3.6% (+$1,145)
> Median household income: $32,540
This is How Much Home You Can Buy For 200K in Every State
Source: DenisTangneyJr / E+ via Getty Images
28. Mesa, Arizona
> 1-yr. change in median home value: +17.8% (+$48,304)
> Median home value; January 2021: $320,201
> 1-yr. population change: +1.7% (+8,526)
> Population: 499,720
> 1-yr. change in median household income: +6.4% (+$3,481)
> Median household income: $58,181
This is How Much Home You Can Buy For 200K in Every State
Source: DianeBentleyRaymond / Getty Images
27. Bozeman, Montana
> 1-yr. change in median home value: +17.9% (+$81,300)
> Median home value; January 2021: $536,326
> 1-yr. population change: +3.6% (+1,625)
> Population: 46,746
> 1-yr. change in median household income: +7.1% (+$3,673)
> Median household income: $55,569
This is How Much Home You Can Buy For 200K in Every State
Source: johnnya123 / Getty Images
26. Ogden, Utah
> 1-yr. change in median home value: +17.9% (+$41,823)
> Median home value; January 2021: $275,451
> 1-yr. population change: +0.8% (+707)
> Population: 86,833
> 1-yr. change in median household income: +7.0% (+$3,254)
> Median household income: $50,061
This is How Much Home You Can Buy For 200K in Every State
Source: tab1962 / iStock
25. Lacey, Washington
> 1-yr. change in median home value: +17.9% (+$58,141)
> Median home value; January 2021: $382,153
> 1-yr. population change: +2.9% (+1,396)
> Population: 49,248
> 1-yr. change in median household income: +1.5% (+$1,012)
> Median household income: $67,687
This is How Much Home You Can Buy For 200K in Every State
Source: DenisTangneyJr / Getty Images
24. Atlantic City, New Jersey
> 1-yr. change in median home value: +18.1% (+$19,787)
> Median home value; January 2021: $129,028
> 1-yr. population change: –1.0% (-373)
> Population: 37,999
> 1-yr. change in median household income: +5.2% (+$1,446)
> Median household income: $29,232
This is How Much Home You Can Buy For 200K in Every State
Source: iip-photo-archive / Flickr
23. Avondale, Arizona
> 1-yr. change in median home value: +18.2% (+$44,991)
> Median home value; January 2021: $291,963
> 1-yr. population change: +1.6% (+1,344)
> Population: 84,736
> 1-yr. change in median household income: +4.9% (+$2,887)
> Median household income: $61,825
This is How Much Home You Can Buy For 200K in Every State
Source: dszc / iStock via Getty Images
22. Glendale, Arizona
> 1-yr. change in median home value: +18.3% (+$45,630)
> Median home value; January 2021: $295,318
> 1-yr. population change: +0.9% (+2,299)
> Population: 247,813
> 1-yr. change in median household income: +5.2% (+$2,706)
> Median household income: $55,020
This is How Much Home You Can Buy For 200K in Every State
Source: Sean Pavone / Getty Images
21. Birmingham, Alabama
> 1-yr. change in median home value: +18.3% (+$11,951)
> Median home value; January 2021: $77,244
> 1-yr. population change: +0.1% (+276)
> Population: 212,297
> 1-yr. change in median household income: +5.7% (+$2,029)
> Median household income: $37,375
This is How Much Home You Can Buy For 200K in Every State
Source: gregobagel / Getty Images
20. Spokane, Washington
> 1-yr. change in median home value: +18.4% (+$47,211)
> Median home value; January 2021: $303,564
> 1-yr. population change: +1.2% (+2,549)
> Population: 217,353
> 1-yr. change in median household income: +5.2% (+$2,484)
> Median household income: $50,306
This is How Much Home You Can Buy For 200K in Every State
Source: Feverpitched / Getty Images
19. Sun City, Arizona
> 1-yr. change in median home value: +18.6% (+$36,228)
> Median home value; January 2021: $231,206
> 1-yr. population change: –1.2% (-471)
> Population: 38,877
> 1-yr. change in median household income: +4.3% (+$1,687)
> Median household income: $40,586
This is How Much Home You Can Buy For 200K in Every State
Source: Melikamp / Wikimedia Commons
18. Phoenix, Arizona
> 1-yr. change in median home value: +18.7% (+$48,829)
> Median home value; January 2021: $310,514
> 1-yr. population change: +1.4% (+22,946)
> Population: 1,633,017
> 1-yr. change in median household income: +4.9% (+$2,694)
> Median household income: $57,459
This is How Much Home You Can Buy For 200K in Every State
Source: Kasamias9 / Wikimedia Commons
17. Youngstown, Ohio
> 1-yr. change in median home value: +18.9% (+$5,030)
> Median home value; January 2021: $31,714
> 1-yr. population change: +0.1% (+49)
> Population: 64,783
> 1-yr. change in median household income: +6.9% (+$1,871)
> Median household income: $28,822
This is How Much Home You Can Buy For 200K in Every State
Source: benedek / iStock via Getty Images
16. Spokane Valley, Washington
> 1-yr. change in median home value: +18.9% (+$51,092)
> Median home value; January 2021: $321,671
> 1-yr. population change: +1.6% (+1,492)
> Population: 97,562
> 1-yr. change in median household income: +5.0% (+$2,451)
> Median household income: $51,961
This is How Much Home You Can Buy For 200K in Every State
Source: Public Domain
15. Parkland, Washington
> 1-yr. change in median home value: +19.2% (+$59,866)
> Median home value; January 2021: $372,375
> 1-yr. population change: +0.3% (+118)
> Population: 37,303
> 1-yr. change in median household income: +7.6% (+$3,931)
> Median household income: $55,346
This is How Much Home You Can Buy For 200K in Every State
Source: DenisTangneyJr / Getty Images
14. Bridgeport, Connecticut
> 1-yr. change in median home value: +19.2% (+$38,451)
> Median home value; January 2021: $238,405
> 1-yr. population change: –0.5% (-778)
> Population: 145,639
> 1-yr. change in median household income: +2.7% (+$1,221)
> Median household income: $46,662
This is How Much Home You Can Buy For 200K in Every State
Source: benedek / Getty Images
13. Coeur d’Alene, Idaho
> 1-yr. change in median home value: +19.3% (+$68,504)
> Median home value; January 2021: $423,503
> 1-yr. population change: +1.9% (+931)
> Population: 50,540
> 1-yr. change in median household income: +4.5% (+$2,180)
> Median household income: $51,073
This is How Much Home You Can Buy For 200K in Every State
Source: Steven_Kriemadis / Getty Images
12. Detroit, Michigan
> 1-yr. change in median home value: +19.7% (+$7,598)
> Median home value; January 2021: $46,103
> 1-yr. population change: –0.3% (-2,314)
> Population: 674,841
> 1-yr. change in median household income: +4.8% (+$1,413)
> Median household income: $30,894
This is How Much Home You Can Buy For 200K in Every State
Source: DenisTangneyJr / iStock via Getty Images
11. Waterbury, Connecticut
> 1-yr. change in median home value: +19.8% (+$25,584)
> Median home value; January 2021: $155,086
> 1-yr. population change: –0.4% (-396)
> Population: 108,276
> 1-yr. change in median household income: +1.9% (+$784)
> Median household income: $42,401
This is How Much Home You Can Buy For 200K in Every State
Source: ChrisBoswell / Getty Images
10. Camden, New Jersey
> 1-yr. change in median home value: +20.0% (+$12,331)
> Median home value; January 2021: $73,951
> 1-yr. population change: –0.8% (-606)
> Population: 74,002
> 1-yr. change in median household income: -0.2% (-$55)
> Median household income: $27,015
This is How Much Home You Can Buy For 200K in Every State
Source: Sean Pavone / Getty Images
9. Cleveland, Ohio
> 1-yr. change in median home value: +20.5% (+$13,745)
> Median home value; January 2021: $80,812
> 1-yr. population change: –0.5% (-2,116)
> Population: 385,282
> 1-yr. change in median household income: +6.5% (+$1,899)
> Median household income: $30,907
This is How Much Home You Can Buy For 200K in Every State
Source: walmartcorporate / Flickr
8. El Mirage, Arizona
> 1-yr. change in median home value: +21.1% (+$44,981)
> Median home value; January 2021: $257,764
> 1-yr. population change: +0.9% (+329)
> Population: 35,333
> 1-yr. change in median household income: +6.5% (+$3,570)
> Median household income: $58,216
This is How Much Home You Can Buy For 200K in Every State
Source: veteranshealth / Flickr
7. East Orange, New Jersey
> 1-yr. change in median home value: +22.4% (+$57,971)
> Median home value; January 2021: $317,150
> 1-yr. population change: -0.0% (-26)
> Population: 64,374
> 1-yr. change in median household income: +7.3% (+$3,263)
> Median household income: $48,072
This is How Much Home You Can Buy For 200K in Every State
Source: chris-yunker / Flickr
6. Rock Hill, South Carolina
> 1-yr. change in median home value: +22.4% (+$40,730)
> Median home value; January 2021: $222,338
> 1-yr. population change: +2.0% (+1,431)
> Population: 73,334
> 1-yr. change in median household income: +7.8% (+$3,652)
> Median household income: $50,444
This is How Much Home You Can Buy For 200K in Every State
Source: Charles Knowles / Shutterstock.com
5. Meridian, Idaho
> 1-yr. change in median home value: +22.5% (+$79,964)
> Median home value; January 2021: $435,087
> 1-yr. population change: +5.0% (+4,897)
> Population: 101,905
> 1-yr. change in median household income: +4.8% (+$3,258)
> Median household income: $71,389
This is How Much Home You Can Buy For 200K in Every State
Source: v-neck / Flickr
4. Caldwell, Idaho
> 1-yr. change in median home value: +23.9% (+$58,865)
> Median home value; January 2021: $305,087
> 1-yr. population change: +3.2% (+1,682)
> Population: 54,887
> 1-yr. change in median household income: +3.3% (+$1,587)
> Median household income: $49,046
This is How Much Home You Can Buy For 200K in Every State
Source: knowlesgallery / Getty Images
3. Nampa, Idaho
> 1-yr. change in median home value: +24.2% (+$61,958)
> Median home value; January 2021: $318,090
> 1-yr. population change: +2.5% (+2,289)
> Population: 93,952
> 1-yr. change in median household income: +9.3% (+$4,155)
> Median household income: $48,846
This is How Much Home You Can Buy For 200K in Every State
Source: knowlesgallery / iStock via Getty Images
2. Boise, Idaho
> 1-yr. change in median home value: +25.1% (+$84,142)
> Median home value; January 2021: $419,836
> 1-yr. population change: +0.8% (+1,815)
> Population: 226,115
> 1-yr. change in median household income: +5.7% (+$3,237)
> Median household income: $60,035
This is How Much Home You Can Buy For 200K in Every State
Source: DenisTangneyJr / Getty Images
1. Flint, Michigan
> 1-yr. change in median home value: +25.2% (+$6,988)
> Median home value; January 2021: $34,715
> 1-yr. population change: –0.6% (-602)
> Population: 96,559
> 1-yr. change in median household income: +4.0% (+$1,117)
> Median household income: $28,834
This is How Much Home You Can Buy For 200K in Every State
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