By Christina Basileo in New Home Tips on August 18, 2015
Sorry San Jose, you lose by winning 1st place as the most expensive metropolitan area to buy a single-family home. But with a median price of a new home being $980,000 – are you really that surprised? For those of you who do not make $18,000 a month to afford this – Welcome to the 99% club!
The good news is that we 99%-ers still have a chance to afford a home at the national average for a single family home is which is about $217,000 as of the first half of 2015. To afford a $225,000 house at a 4.00% interest, 2% property tax and 4% down payment – your household would only need to earn about $48,000 a year combined before taxes. Of course, if you’re a Millennial, you may have to start saving, as your individual average income is about $33,200 nationwide.
Ok, here’s what you clicked this link to find out! Enjoy.
Top 25 Most Expensive Metros to Buy a Single Family Home
| Rank | City, State | Median Home Price |
| 25 | Trenton-Ewing, NJ | $283,900 |
| 24 | Miami-Fort Lauderdale-Miami Beach, FL | $289,900 |
| 23 | Sacramento-Arden-Arcade-Roseville, CA | $291,000 |
| 22 | Riverside-San Bernardino-Ontario, CA | $291,700 |
| 21 | Burlington-South Burlington, VT | $293,300 |
| 20 | Portland-Vancouver-Beaverton, OR-WA | $314,800 |
| 19 | Edison, NJ | $322,900 |
| 18 | Barnstable Town, MA | $360,700 |
| 17 | Denver-Aurora, CO | $362,900 |
| 16 | Seattle-Tacoma-Bellevue, WA | $385,300 |
| 15 | NY: Newark-Union, NJ-PA | $394,400 |
| 14 | Bridgeport-Stamford-Norwalk, CT | $403,500 |
| 13 | Washington-Arlington-Alexandria, DC-VA-MD-WV | $403,800 |
| 12 | New York-Northern New Jersey-Long Island, NY-NJ-PA | $410,400 |
| 11 | Boston-Cambridge-Quincy, MA-NH | $414,600 |
| 10 | Naples-Marco Island, FL | $423,000 |
| 9 | NY: Nassau-Suffolk, NY | $430,000 |
| 8 | Los Angeles-Long Beach-Santa Ana, CA | $445,200 |
| 7 | Boulder, CO | $463,700 |
| 6 | New York-Wayne-White Plains, NY-NJ | $473,200 |
| 5 | San Diego-Carlsbad-San Marcos, CA | $547,800 |
| 4 | Honolulu, HI | $698,600 |
| 3 | Anaheim-Santa Ana-Irvine, CA | $713,200 |
| 2 | San Francisco-Oakland-Fremont, CA | $841,600 |
| 1 | San Jose-Sunnyvale-Santa Clara, CA | $980,000 |
If you want to explore these numbers in more depth, you can visit REALTORS® to see a full list of median prices for a single family home across the U.S.
