Graph and download economic data for All-Transactions House Price Index for Los Angeles County, CA (ATNHPIUS06037A) from 1975 to 2024 about Los Angeles County, CA; Los Angeles; CA; HPI; housing; price index; indexes; price; and USA.

In 2022, San Mateo, San Francisco, and Santa Clara were the most expensive districts for housing in the San Francisco Bay Area. In San Francisco, the average square footage price of single-family homes exceeded 1,000 U.S. dollars per square foot. Housing in Solano, on the other hand, was most affordable, with the average square footage price for single family homes at *** U.S. dollars.

How expensive is buying a home in San Francisco? Few metros in the U.S. are more expensive than San Francisco, CA. In 2022, the median sales price of existing single-family homes in San Francisco was about *** million U.S. dollars, making it the second priciest market in the U.S. House prices in the Golden City, were not always so high: in 2014, a two-bedroom house in the Bay Area would sell for less than ******* U.S. dollars but since then, the median price has more than doubled.

How much does renting an apartment cost? Despite rents falling in 2020, renting in San Francisco is still far from cheap. Renting a two-bedroom apartment cost close to ***** U.S. dollars in 2021. California is one of the least affordable states for renters. In fact, to afford to rent such an apartment, a household needs approximately ***** full time jobs at minimum wage or *** full time jobs at mean wage.

The average price per square foot of floor space in new single-family housing in the United States decreased after the great financial crisis, followed by several years of stagnation. Since 2012, the price has continuously risen, hitting ****** U.S. dollars per square foot in 2024. In 2024, the average sales price of a new home exceeded ******* U.S. dollars. Development of house sales in the U.S. One of the reasons for rising property prices is the gradual growth of house sales between 2011 and 2020. This period was marked by the gradual recovery following the subprime mortgage crisis and a growing housing sentiment. Another significant factor for the housing demand was the growing number of new household formations each year. Despite this trend, housing transactions plummeted in 2021, amid soaring prices and borrowing costs. In 2021, the average construction cost for single-family housing rose by nearly ** percent year-on-year, and in 2022, the increase was even higher, at close to ** percent. Financing a house purchase Mortgage interest rates in the U.S. rose dramatically in 2022 and remained elevated until 2024. In 2020, a homebuyer could lock in a 30-year fixed interest rate of under ***** percent, whereas in 2024, the average rate for the same mortgage type was more than twice higher. That has led to a decline in homebuyer sentiment, and an increasing share of the population pessimistic about buying a home in the current market.

The number of U.S. home sales in the United States declined in 2024, after soaring in 2021. A total of four million transactions of existing homes, including single-family, condo, and co-ops, were completed in 2024, down from 6.12 million in 2021. According to the forecast, the housing market is forecast to head for recovery in 2025, despite transaction volumes expected to remain below the long-term average. Why have home sales declined? The housing boom during the coronavirus pandemic has demonstrated that being a homeowner is still an integral part of the American dream. Nevertheless, sentiment declined in the second half of 2022 and Americans across all generations agreed that the time was not right to buy a home. A combination of factors has led to house prices rocketing and making homeownership unaffordable for the average buyer. A survey among owners and renters found that the high home prices and unfavorable economic conditions were the two main barriers to making a home purchase. People who would like to purchase their own home need to save up a deposit, have a good credit score, and a steady and sufficient income to be approved for a mortgage. In 2022, mortgage rates experienced the most aggressive increase in history, making the total cost of homeownership substantially higher. Are U.S. home prices expected to fall? The median sales price of existing homes stood at 413,000 U.S. dollars in 2024 and was forecast to increase slightly until 2026. The development of the S&P/Case Shiller U.S. National Home Price Index shows that home prices experienced seven consecutive months of decline between June 2022 and January 2023, but this trend reversed in the following months. Despite mild fluctuations throughout the year, home prices in many metros are forecast to continue to grow, albeit at a much slower rate.

The U.S. housing market continues to evolve, with the median price for existing homes forecast to fall to ******* U.S. dollars by 2027. This projection comes after a period of significant growth and recent fluctuations, reflecting the complex interplay of economic factors affecting the real estate sector. The rising costs have not only impacted home prices but also down payments, with the median down payment more than doubling since 2012. Regional variations in housing costs Home prices and down payments vary dramatically across the United States. While the national median down payment stood at approximately ****** U.S. dollars in early 2024, homebuyers in states like California, Massachusetts, and Hawaii faced down payments exceeding ****** U.S. dollars. This disparity highlights the challenges of homeownership in high-cost markets and underscores the importance of location in determining housing affordability. Market dynamics and future outlook The housing market has shown signs of cooling after years of rapid growth, with a modest price increase of *** percent in 2024. This slowdown can be attributed in part to rising mortgage rates, which have tempered demand. Despite these challenges, most states continued to see year-over-year price growth in 2025, with Rhode Island and West Virginia leading the packby home appreciation. As the market adjusts to new economic realities, potential homebuyers and investors alike will be watching closely for signs of stabilization or renewed growth in the coming years.

Housing Inventory: Average Listing Price Year-Over-Year in California was -4.49% in September of 2025, according to the United States Federal Reserve. Historically, Housing Inventory: Average Listing Price Year-Over-Year in California reached a record high of 41.44 in April of 2021 and a record low of -13.44 in January of 2023. Trading Economics provides the current actual value, an historical data chart and related indicators for Housing Inventory: Average Listing Price Year-Over-Year in California - last updated from the United States Federal Reserve on November of 2025.

Housing Inventory: Median Listing Price Year-Over-Year in California was -2.50% in September of 2025, according to the United States Federal Reserve. Historically, Housing Inventory: Median Listing Price Year-Over-Year in California reached a record high of 29.14 in April of 2021 and a record low of -3.66 in March of 2023. Trading Economics provides the current actual value, an historical data chart and related indicators for Housing Inventory: Median Listing Price Year-Over-Year in California - last updated from the United States Federal Reserve on November of 2025.

Housing Inventory: Average Listing Price in Lake County, CA was 459507.00000 U.S. $ in October of 2025, according to the United States Federal Reserve. Historically, Housing Inventory: Average Listing Price in Lake County, CA reached a record high of 733865.00000 in May of 2021 and a record low of 318216.00000 in February of 2017. Trading Economics provides the current actual value, an historical data chart and related indicators for Housing Inventory: Average Listing Price in Lake County, CA - last updated from the United States Federal Reserve on December of 2025.

The number of homes sold in California declined for the second year in a row in 2023, reaching roughly *******. The most homes were sold in 2021, amounting to over ******* transactions. Despite the slowdown of the market, the median home price in California peaked in 2023.

Housing Inventory: Median Listing Price per Square Feet Year-Over-Year in California was -1.88% in October of 2025, according to the United States Federal Reserve. Historically, Housing Inventory: Median Listing Price per Square Feet Year-Over-Year in California reached a record high of 40.18 in January of 2021 and a record low of -4.48 in February of 2023. Trading Economics provides the current actual value, an historical data chart and related indicators for Housing Inventory: Median Listing Price per Square Feet Year-Over-Year in California - last updated from the United States Federal Reserve on November of 2025.

VITAL SIGNS INDICATOR
Home Prices (EC7)

FULL MEASURE NAME
Home Prices

LAST UPDATED
December 2022

DESCRIPTION
Home prices refer to the cost of purchasing one’s own house or condominium. While a significant share of residents may choose to rent, home prices represent a primary driver of housing affordability in a given region, county or city.

DATA SOURCE
Zillow: Zillow Home Value Index (ZHVI) - http://www.zillow.com/research/data/
2000-2021

California Department of Finance: E-4 Historical Population Estimates for Cities, Counties, and the State - https://dof.ca.gov/forecasting/demographics/estimates/
2000-2021

US Census Population and Housing Unit Estimates - https://www.census.gov/programs-surveys/popest.html
2000-2021

Bureau of Labor Statistics: Consumer Price Index - http://data.bls.gov
2000-2021

US Census ZIP Code Tabulation Areas (ZCTAs) - https://www.census.gov/programs-surveys/geography/guidance/geo-areas/zctas.html
2020 Census Blocks

CONTACT INFORMATION
vitalsigns.info@bayareametro.gov

METHODOLOGY NOTES (across all datasets for this indicator)
Housing price estimates at the regional-, county-, city- and zip code-level come from analysis of individual home sales by Zillow based upon transaction records. Zillow Home Value Index (ZHVI) is a smoothed, seasonally adjusted measure of the typical home value and market changes across a given region and housing type. It reflects the typical value for homes in the 35th to 65th percentile range. ZHVI is computed from public record transaction data as reported by counties. All standard real estate transactions are included in this metric, including REO sales and auctions. Zillow makes a substantial effort to remove transactions not typically considered a standard sale. Examples of these include bank takeovers of foreclosed properties, title transfers after a death or divorce and non arms-length transactions. Zillow defines all homes as single-family residential, condominium and co-operative homes with a county record. Single-family residences are detached, which means the home is an individual structure with its own lot. Condominiums are units that can be owned in a multi-unit complex, such as an apartment building. Co-operative homes are slightly different from condominiums in that the homeowners own shares in the corporation that owns the building, not the actual units themselves.

For metropolitan area comparison values, the Bay Area metro area’s median home sale price is the population-weighted average of the nine counties’ median home prices. Data is adjusted for inflation using Bureau of Labor Statistics metropolitan statistical area (MSA)-specific series. Inflation-adjusted data are presented to illustrate how home prices have grown relative to overall price increases; that said, the use of the Consumer Price Index (CPI) does create some challenges given the fact that housing represents a major chunk of consumer goods bundle used to calculate CPI. This reflects a methodological tradeoff between precision and accuracy and is a common concern when working with any commodity that is a major component of the CPI itself.

Graph and download economic data for Housing Inventory: Average Listing Price in Solano County, CA (AVELISPRI6095) from Jul 2016 to Nov 2021 about Solano County, CA; Vallejo; listing; average; CA; price; and USA.

Housing Inventory: Average Listing Price Month-Over-Month in Orange County, CA was -0.36% in October of 2025, according to the United States Federal Reserve. Historically, Housing Inventory: Average Listing Price Month-Over-Month in Orange County, CA reached a record high of 9.52 in December of 2021 and a record low of -8.88 in April of 2020. Trading Economics provides the current actual value, an historical data chart and related indicators for Housing Inventory: Average Listing Price Month-Over-Month in Orange County, CA - last updated from the United States Federal Reserve on December of 2025.

New housing price index (NHPI). Monthly data are available from January 1981. The table presents data for the most recent reference period and the last four periods. The base period for the index is (201612=100).

Housing Inventory: Average Listing Price in Fresno County, CA was 578412.00000 U.S. $ in October of 2025, according to the United States Federal Reserve. Historically, Housing Inventory: Average Listing Price in Fresno County, CA reached a record high of 653209.00000 in September of 2021 and a record low of 357100.00000 in December of 2016. Trading Economics provides the current actual value, an historical data chart and related indicators for Housing Inventory: Average Listing Price in Fresno County, CA - last updated from the United States Federal Reserve on November of 2025.

For LGBTQ home seekers in the United States in 2021, the most affordable gay-friendly city was Pittsburgh with a median list price for houses of about *** thousand U.S. dollars. Long Beach in California held the ***** position among gay-friendly cities with affordable housing with a house price of *** thousand U.S. dollars which was almost *** times as expensive as Pittsburgh. The source defines LGBTQ friendly cities as cities situated in states with at least *** married or co-habitating same-sex couples per 1,000 residents that also had a score of 100 on the Human Rights Campaign’s annual Municipal Equality Index.

Graph and download economic data for Housing Inventory: Median Listing Price Year-Over-Year in Mendocino County, CA (MEDLISPRIYY6045) from Jul 2017 to Dec 2021 about Mendocino County, CA; listing; CA; median; price; and USA.

Housing Inventory: Average Listing Price in Mendocino County, CA was 982436.00000 U.S. $ in August of 2025, according to the United States Federal Reserve. Historically, Housing Inventory: Average Listing Price in Mendocino County, CA reached a record high of 1378527.00000 in February of 2021 and a record low of 794174.00000 in May of 2017. Trading Economics provides the current actual value, an historical data chart and related indicators for Housing Inventory: Average Listing Price in Mendocino County, CA - last updated from the United States Federal Reserve on October of 2025.

In January 2025, apartment rents recorded an annual growth in most U.S. states. Nevertheless, the national average rent declined by about *** percent. West Virginia was the state with the largest rental increase, while Colorado measured the largest decline. California, one of the most expensive states to rent an apartment, such as California, saw an increase of about *** percent from the previous year. How much should you earn to afford to rent an apartment in different states in the U.S.? Both employment opportunities and the living costs vary widely across the country. In California, which is among the most competitive housing markets in the U.S., the hourly wage needed to afford a two-bedroom apartment rental was roughly ** U.S. dollars, more than twice higher than in North Carolina, Louisiana, or Michigan in 2024. When it comes to the median household income, on the other hand, California does not even make it in the top ten states. How much should you earn to afford a home in some of U.S. largest metros? In 2022, the annual salary needed to buy a median-priced home in the U.S. was ****** U.S. dollars. However, in some of the largest metropolitan areas in the United States, where housing prices are up to two or three times higher, homebuyers would have to earn more than 100,000 U.S. dollars to afford a home. In San Jose, which was the most expensive metro, the annual salary needed for a median-priced home was approximately ******* U.S. dollars.

Housing Inventory: Median Days on Market Year-Over-Year in California was 17.17% in October of 2025, according to the United States Federal Reserve. Historically, Housing Inventory: Median Days on Market Year-Over-Year in California reached a record high of 82.76 in February of 2023 and a record low of -43.86 in May of 2021. Trading Economics provides the current actual value, an historical data chart and related indicators for Housing Inventory: Median Days on Market Year-Over-Year in California - last updated from the United States Federal Reserve on December of 2025.