The COVID-19 pandemic has ushered in an unprecedented surge in demand for homes in the United States. Inventory of homes for sale hit a record low, as did the average time homes are on the market. Meanwhile, both home prices and the share of homes selling above asking price reached record highs.
Of course, in some parts of the country, exorbitant home prices are nothing new. Even before the pandemic, the majority of states had at least one county where the value of most homes exceeded a quarter million dollars.
Using data on median home value from the U.S. Census Bureau, 24/7 Wall St. identified the most expensive county to buy a home in every state. We included counties, county equivalents, and independent cities in our analysis. The prices listed here are for 2019, the most recent year of available data from the Census Bureau.
It is important to note that while every county on this list has expensive homes relative to the rest of the state, not all counties have expensive homes relative to the U.S. as a whole.In states where median home values are generally low, even the most expensive county can be relatively inexpensive in comparison to the nation. Four states on this list — Alabama, Arkansas, Nebraska, and Oklahoma — do not have a county where the median home value is above the $217,500 national median. Here is a look at how much home you can buy for $200,000 in every state.
Home values in a given area are often a reflection of what residents can afford. And not surprisingly, the vast majority of the counties on this list have a median household income that exceeds the median across the state as a whole. Here is a look at the richest town in every state.