America’s most expensive housing markets in 2025
As of May 2025, the median home sale price in the U.S. hit $368,751. But in some metro areas, it’s standard for single-family homes to sell for over $1 million. In these high-cost areas, price swings may carry major consequences, such as putting existing homeowners at risk of losing equity or potentially pricing out hopeful homebuyers. At the same time, wider trends over the past few years can help both residents and local governments better prepare for the economic effects that come along with strong demand for housing.
With this in mind, SmartAsset ranked 100 of the largest U.S. metro areas based on the median sale price of homes in 2025. One-year and five-year changes in prices were also calculated to observe market trajectories.
Key Findings
The median home costs over $1.6 million in the San Jose, CA metro area. Maintaining its first-place ranking from last year, the San Jose metro housing market remains the most expensive housing market in the nation. Home prices saw an increase of 1.63% over the past year, pushing the median to $1.626 million. Five years ago, the median home sold for $1.178 million, marking a 35.9% climb in prices over five years.
Three of the top 10 most expensive housing markets saw price declines this year. The San Francisco metro area, ranking second overall, saw prices drop by 2.38% year over year to $1.181 million. The San Diego metro area, ranking fourth overall, had a dip of 0.58% to $894,777. Similarly, the Seattle metro area, ranking sixth, saw a 2.29% decline to a median sale price of $727,919.
The Bridgeport, CT metro overtakes the New York City metro for pricey homes. Bridgeport median home sale prices climbed 12.35% in just one year, making it now the 9th most expensive major metro area. Median sale prices came in at $662,866, about $11,000 more than the median sale price in the New York City metro. Despite having smaller price growth than the Bridgeport area, the housing market was still hotter than most in the New York City metro, with 5.08% growth year over year.
This metro area had the highest growth rate in prices — but still ranks dead last. The Toledo, OH metro area saw home prices increase by 22.41% in just one year, bringing the median to $195,854. Despite this sudden growth, the Toledo metro area still remains the most affordable housing market. Two other Ohio metros are second and third most affordable study-wide: Akron ($204,044) and Cleveland ($214,754).
Top 10 Most Expensive Housing Markets
Metro areas are ranked based on the median sale price for single-family homes as of May 2025.
San Jose, CA
Median home price, 2025: $1,626,041
1 year change in home prices: 1.63%
Median home price, 2024: $1,600,000
5-year change in home prices: 35.88%
Median home price, 2020: $1,177,500
San Francisco, CA
Median home price, 2025: $1,181,211
1-year change in home prices: -2.38%
Median home price, 2024: $1,210,000
5-year change in home prices: 35.96%
Median home price, 2020: $890,000
Los Angeles, CA
Median home price, 2025: $975,475
1-year change in home prices: 0.56%
Median home price, 2024: $970,000
5-year change in home prices: 50.39%
Median home price, 2020: $645,000
San Diego, CA
Median home price, 2025: $894,777
1-year change in home prices: -0.58%
Median home price, 2024: $900,000
5-year change in home prices: 55.57%
Median home price, 2020: $578,500
Oxnard, CA
Median home price, 2025: $880,544
1-year change in home prices: 4.83%
Median home price, 2024: $840,000
5-year change in home prices: 38.27%
Median home price, 2020: $607,500
Seattle, WA
Median home price, 2025: $727,919
1-year change in home prices: -2.29%
Median home price, 2024: $745,000
5-year change in home prices: 51.12%
Median home price, 2020: $493,000
Honolulu, HI
Median home price, 2025: $724,470
1-year change in home prices: 18.68%
Median home price, 2024: $610,423
5-year change in home prices: 2.18%
Median home price, 2020: $597,425
Boston, MA
Median home price, 2025: $723,079
1-year change in home prices: 5.56%
Median home price, 2024: $685,000
5-year change in home prices: 44.13%
Median home price, 2020: $475,250
Bridgeport, CT
Median home price, 2025: $662,866
1-year change in home prices: 12.35%
Median home price, 2024: $590,000
5-year change in home prices: 37.21%
Median home price, 2020: $430,000
New York, NY
Median home price, 2025: $651,474
1-year change in home prices: 5.08%
Median home price, 2024: $620,000
5-year change in home prices: 45.88%
Median home price, 2020: $425,000
Denver, CO
Median home price, 2025: $597,548
1-year change in home prices: 1.28%
Median home price, 2024: $590,000
5-year change in home prices: 38.82%
Median home price, 2020: $425,000
Washington, DC
Median home price, 2025: $582,523
1-year change in home prices: 0.68%
Median home price, 2024: $578,575
5-year change in home prices: 36.14%
Median home price, 2020: $425,000
Sacramento, CA
Median home price, 2025: $578,697
1-year change in home prices: 0.56%
Median home price, 2024: $575,500
5-year change in home prices: 37.35%
Median home price, 2020: $419,000
Riverside, CA
Median home price, 2025: $573,522
1-year change in home prices: 1.51%
Median home price, 2024: $565,000
5-year change in home prices: 49.08%
Median home price, 2020: $379,000
Portland, OR
Median home price, 2025: $561,853
1-year change in home prices: 2.16%
Median home price, 2024: $550,000
5-year change in home prices: 34.80%
Median home price, 2020: $408,000
Salt Lake City, UT
Median home price, 2025: $550,864
1-year change in home prices: 3.07%
Median home price, 2024: $534,481
5-year change in home prices: 48.47%
Median home price, 2020: $360,000
Provo, UT
Median home price, 2025: $522,121
1-year change in home prices: -0.55%
Median home price, 2024: $525,000
5-year change in home prices: 56.72%
Median home price, 2020: $335,000
Stockton, CA
Median home price, 2025: $520,106
1year change in home prices: -1.21%
Median home price, 2024: $526,500
5-year change in home prices: 35.00%
Median home price, 2020: $390,000
Boise City, ID
Median home price, 2025: $504,358
1-year change in home prices: 3.56%
Median home price, 2024: $487,000
5-year change in home prices: 54.85%
Median home price, 2020: $314,500
Miami, FL
Median home price, 2025: $497,640
1-year change in home prices: 3.68%
Median home price, 2024: $480,000
5-year change in home prices: 62.71%
Median home price, 2020: $295,000
Data and Methodology
This SmartAsset study examined median sale prices for 100 of the largest metro areas in the U.S. with available data to determine the most and least expensive housing markets. Data for May 2025, 2024, and 2020 comes from Zillow for single-family homes, condos, and co-ops.
This story was produced by SmartAsset and reviewed and distributed by Stacker.
