A challenge that arises when determining the performance of the U.S. housing market as a whole is navigating the fact that home values rise and fall very differently from region to region. A housing slump felt in Florida may not be experienced at all in California, for example. So, when you’re assessing whether or not a home is a good investment, you need to get hyper local and look at the situation city by city.
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On April 24, 2025, SmartAsset published a ranking of 100 of the largest cities that saw the biggest one-year changes in the typical home value between 2024 and 2025. These are the 15 cities that experienced the biggest increase in value over the past year.
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15. Henderson, Nevada
Typical home value, 2024: $472,282
Typical home value, 2025: $493,510
1-year change in typical home value: 4.49%
5-year change in typical home value: 44.2%
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14. Las Vegas
Typical home value, 2024: $412,841
Typical home value, 2025: $431,505
1-year change in typical home value: 4.52%
5-year change in typical home value: 48.0%
13. Fort Wayne, Indiana
Typical home value, 2024: $224,227
Typical home value, 2025: $234,891
1-year change in typical home value: 4.76%
5-year change in typical home value: 58.0%
12. Buffalo, New York
Typical home value, 2024: $215,782
Typical home value, 2025: $226,329
1-year change in typical home value: 4.89%
5-year change in typical home value: 59.9%
11. Jersey City, New Jersey
Typical home value, 2024: $602,345
Typical home value, 2025: $632,704
1-year change in typical home value: 5.04%
5-year change in typical home value: 25.0%
10. Madison, Wisconsin
Typical home value, 2024: $387,377
Typical home value, 2025: $407,621
1-year change in typical home value: 5.23%
5-year change in typical home value: 44.4%
9. Lexington, Kentucky
Typical home value, 2024: $299,842
Typical home value, 2025: $315,819
1-year change in typical home value: 5.33%
5-year change in typical home value: 51.1%
8. Louisville, Kentucky
Typical home value, 2024: $236,376
Typical home value, 2025: $249,200
1-year change in typical home value: 5.43%
5-year change in typical home value: 36.9%
7. Toledo, Ohio
Typical home value, 2024: $116,383
Typical home value, 2025: $123,094
1-year change in typical home value: 5.77%
5-year change in typical home value: 55.6%
6. Anaheim, California
Typical home value, 2024: $891,835
Typical home value, 2025: $945,098
1-year change in typical home value: 5.97%
5-year change in typical home value: 49.6%
5. Cleveland
Typical home value, 2024: $106,478
Typical home value, 2025: $113,400
1-year change in typical home value: 6.50%
5-year change in typical home value: 52.7%
4. Santa Ana, California
Typical home value, 2024: $809,867
Typical home value, 2025: $862,825
1-year change in typical home value: 6.54%
5-year change in typical home value: 50.3%
3. San Jose, California
Typical home value, 2024: $1,420,733
Typical home value, 2025: $1,521,021
1-year change in typical home value: 7.06%
5-year change in typical home value: 46.9%
2. Milwaukee
Typical home value, 2024: $192,916
Typical home value, 2025: $208,725
1-year change in typical home value: 8.19%
5-year change in typical home value: 61.9%
1. Irvine, California
Typical home value, 2024: $1,421,723
Typical home value, 2025: $1,614,607
1-year change in typical home value: 13.57%
5-year change in typical home value: 82.1%
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Sources
SmartAsset, “Where Home Values Increased and Decreased Most – 2025 Study.”
This article originally appeared on GOBankingRates.com: 15 Cities Where Home Values Have Increased the Most — 4 Are in California
