Home prices in the United States can vary a lot depending on several factors, such as the size, location, condition, materials used, and real estate market trends in the area.
The surrounding area of the house can also affect its price. For example, houses in neighborhoods with nice amenities are typically more expensive. Also, if a house has a scenic view of the ocean or mountains, then you can expect that it’ll cost more compared to other houses.
To give you a reference, here are the average home prices in different U.S. cities, as well as the price per square foot.
Average Home Prices In U.S. Cities
Some cities may have higher home prices than other cities, so let’s compare how much houses typically cost in different U.S. cities based on their price per square foot.
1. San Francisco, California
Houses in San Francisco can be quite expensive, with California having a notorious reputation for being the most expensive state in terms of home prices.
The average home price is between $1,074 to $1,901 per square foot. This gives you an average of around $1.9 million for a single-family home measuring around 1,150 to 2,000 square feet.
2. New York City, New York
Almost everything in New York City is expensive and real estate is no exception. Houses usually cost between $852 to $1,596 per square foot with the average home price at around $1.1 million for a single-family home.
3. Los Angeles, California
Los Angeles is another expensive city in California. The average home price is around $671 per square foot and a single-family home normally costs around $1.2 million.
4. Chicago, Illinois
Although Chicago is a major city in the U.S., housing options here don’t come with a hefty price tag, unlike New York City or Boston.
The average home price in Chicago is between $294 to $343 per square foot, and you can get a single-family home for around $380,000.
5. Miami, Florida
With its proximity to the ocean, people would think that getting a house in Miami can be quite expensive but that’s not the case. A single-family home in Miami would cost around $475,000, with an average price of around $417 per square foot.
6. Houston, Texas
Despite being a major city, Houston is not that expensive in terms of real estate. The average home price in this city is around $179 per square foot, with single-family homes priced at around $300,000 on average.
7. Boston, Massachusetts
As another densely-populated city, getting a house in Boston can be pricey. The average home size here is around $646 per square foot and you can get a single-family home for around $800,000.
8. Seattle, Washington
Seattle is another city with expensive houses. The average home price here is around $574 per square foot, with single-family homes priced at around $800,000.
9. Atlanta, Georgia
In Atlanta, houses can be affordable compared to other cities, with an average home price of between $195 to $234 per square foot. You can get a single-family home for around $400,000.
10. Honolulu, Hawaii
You’d be surprised to find out that Hawaii is one of the most expensive U.S. states in terms of housing. Houses in Hawaii are quite pricey because of limited land availability paired with high demand.
A lot of people want to live in Hawaii because of the islands’ natural beauty. The average home price is around $744 per square foot, with a single-family home priced at around $1.1 million.
11. Las Vegas, Nevada
Despite being a popular destination, housing in Las Vegas isn’t as expensive as you would expect. The average home price is between $116 to $223 per square foot, with single-family homes costing around $405,000.
12. Phoenix, Arizona
Compared to other major cities in the U.S., house prices in Phoenix are relatively affordable. The average home price here is around $215 per square foot and you can get a single-family home for around $385,000.
13. Philadelphia, Pennsylvania
Philadelphia is also quite affordable in terms of housing. The average price per square foot for a home in Philadelphia is around $164 and single-family homes are priced at around $230,000 on average.
14. San Antonio, Texas
Housing prices in San Antonio are generally considered to be more affordable compared to many other major cities in the U.S.
With an average price per square foot of around $140, single-family homes in this city are only around $290,000.
15. San Diego, California
Just like other cities in California, housing prices in San Diego can be expensive and one main reason for this is its desirable coastal location.
The average price per square foot for a home in San Diego is around $560, and single-family homes are priced at around $850,000.
16. Dallas, Texas
Texas is relatively affordable when it comes to housing. In Dallas, the average home price per square foot is around $213, with a single-family home costing around $416,000.
17. Jacksonville, Florida
While there are some extremely expensive houses in Florida, particularly in Miami Beach, its capital city Jacksonville offers more affordable housing options.
The average price of a single-family home in this city is around $304,000 with the average price per square foot at around $175.
18. Columbus, Ohio
Columbus is another densely-populated city in the U.S., but its housing prices are relatively low. The average price of a single-family home is around $260,000 and the average price per square foot is just around $167.
19. Denver, Colorado
With a strong economy and surrounded by mountains, which makes for scenic views, Denver is a pretty expensive city for homebuyers.
The average price per square foot in Denver is around $353 with single-family homes priced at around $672,000 on average.
20. Indianapolis, Indiana
Despite being another major city, Indianapolis is quite cheap if you’re looking for a house to buy. The average home price here is around $260,000 with a price per square foot of around $149.
What States Have The Highest Home Prices?
The housing prices in the United States vary a lot from one state to another and are dependent on several factors, including location and real estate market trends.
Currently, the states that have the highest home prices include:
- New York
In California, the average home price per square foot is around $470. However, this is just the average, and house prices can go as high as $1,901 per square foot depending on the city and neighborhood.
Hawaii is even more expensive than California with the average per square foot around $650.
Massachusetts is also pretty expensive in terms of housing with an average price per square foot of around $370, while New York is slightly more expensive with an average price per square foot of around $390.
Take a look at our article about whether big houses sell faster or slower.
What Cities Have The Most Expensive Houses?
While many people would consider anything more than $1 million expensive for a house, you wouldn’t believe how much the houses are in some U.S. cities.
To date, the top 5 cities that have the most expensive houses include:
- Atherton, Beverly Hills and Palo Alto in California
- Miami Beach in Florida
- New York City in New York
Dubbed “the most expensive zip code”, houses in Atherton come with hefty price tags, with the median home price at around $6.7 million.
One reason that Atherton is so expensive when it comes it housing is its location. It’s located in the heart of Silicon Valley, which is known for its strong economy and high-paying jobs.
This has led to an influx of entrepreneurs and wealthy professionals who are willing to pay a lot just to live in this area.
Other expensive cities in California include Beverly Hills and Palo Alto, where the median home prices are at $4.8 million and $3.5 million, respectively.
Beverly Hills is known for its luxurious lifestyle, celebrity residents, and high-end establishments. This lifestyle and the city’s desirable location have driven up the cost of real estate in the area.
Meanwhile, Palo Alto is also located in Silicon Valley so the reason why houses are so expensive there is the same as discussed above for Atherton.
Miami Beach, Florida took 4th place with the median home price at around $2.3 million, and New York City came in 5th with the median home price at around $1.1 million.
Both Miami Beach and New York City have desirable locations and are associated with the luxurious lifestyle which explains why houses are so expensive.
What States Have The Cheapest Houses?
After learning about the U.S. states with the most expensive houses, you may be wondering which states are the cheapest in terms of housing.
Currently, the states that have the cheapest houses include:
- West Virginia
The cheapest overall is West Virginia, with an average price per square foot of $103, and the average home price at $178,416 for a single-family home. Mississippi is close 2nd, and Arkansas is 3rd with average home prices per square foot at $105 and $108, respectively.
Meanwhile, the average home price per square foot in Oklahoma is $118. Ranked next in the list of cheapest states for housing is Alabama at an average of $124 per square foot and Kentucky at an average of $126 per square foot.
Last on the list is Indiana with an average price per square foot of $136.
It’s worth noting that the cost of living in these states is relatively low compared to others which explains why housing here can be so cheap.
Please also check out our article about what house sizes sell the fastest.
What Cities Have The Cheaper Houses?
Now let’s get to the cities that have more affordable housing options.
The cities that have the cheaper houses include:
- Detroit in Michigan
- Memphis in Tennessee
- Wichita in Kansas
- Tulsa in Oklahoma
- Cleveland in Ohio.
The median home price in Detroit is $50,124, making it one of the cheapest cities in terms of housing, and coming in a close second is Memphis with the median home price at $97,413.
The main reason why houses are cheap in Detroit and Memphis is their decline in population over the past few decades. This has led to a huge supply of homes despite the low demand, which means that there are more houses available for sale than there are buyers.
The 3rd cheapest city is Wichita with the median home price at around $113,861, while Tulsa comes in 4th with the median home price at $115,240. Both cities have a relatively low cost of living compared to other U.S. cities.
Cleveland, Ohio is another city that offers affordable housing with the median home price at around $119,237. This city is also suffering from a decline in population resulting in an oversupply of houses for sale.
In addition, Cleveland is facing some economic challenges, resulting in job losses for many of its residents, which is another reason why houses are cheap here.