In the United States, Hawaii was the state with the most expensive housing, with the typical value of single-family homes in the 35th to 65th percentile range exceeding ******* U.S. dollars. Unsurprisingly, Hawaii also ranked top as the state with the highest cost of living. Meanwhile, a property was the least expensive in West Virginia, where it cost under ******* U.S. dollars to buy the typical single-family home. Single-family home prices increased across most states in the United States between December 2023 and December 2024, except in Louisiana, Florida, and the District of Colombia. According to the Federal Housing Association, house appreciation in 13 states exceeded **** percent in 2023.

After a long period of steady increase in real estate prices in Spain, the market was hit by the global financial crisis of 2007, resulting in the burst of the Spanish property bubble. House prices have since picked up and in 2023, the average square meter price reached 2,809 euros - just slightly below 2008 levels. Though prices have risen across the whole country, some regions, such as the Balearic Islands, Catalonia, Madrid, and Andalusia, experienced faster growth than others. Additionally, the gap between newly built and existing home prices has widened. Spain’s real estate market behind others The property market has made great progress, but it is still far off the rest of its European counterparts, and it is positioned, in fact, at the bottom of the European list of the EMF’s house price index, which is led by Czechia and Portugal. Supply is a major factor influencing the price development. Many European countries suffer housing shortages due to sluggish construction activity, and Spain is no exception. In 2022, ranked among the countries with the lowest number of residential construction starts per 1,000 citizens in Europe. Buying vs renting As happens with many other countries, the affordability of buying a home and renting will differ considerably dependent on the area. In 2022, the average Spanish citizen needed between five and 18 years to purchase an average priced property in their region with their full salary, with Murcia and La Rioja being the most affordable regions. The house price to rent index shows that house price growth has been much faster than rental growth. That is good news for homeowners whose homes appreciate over time, but an issue for renters who are yet to purchase a property.

Analysis of ‘Boston House Prices-Advanced Regression Techniques’ provided by Analyst-2 (analyst-2.ai), based on source dataset retrieved from https://www.kaggle.com/fedesoriano/the-boston-houseprice-data on 13 February 2022.

--- Dataset description provided by original source is as follows ---

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Context

The Boston house-price data of Harrison, D. and Rubinfeld, D.L. 'Hedonic prices and the demand for clean air', J. Environ. Economics & Management, vol.5, 81-102, 1978.

Attribute Information

Input features in order: 1) CRIM: per capita crime rate by town 2) ZN: proportion of residential land zoned for lots over 25,000 sq.ft. 3) INDUS: proportion of non-retail business acres per town 4) CHAS: Charles River dummy variable (1 if tract bounds river; 0 otherwise) 5) NOX: nitric oxides concentration (parts per 10 million) [parts/10M] 6) RM: average number of rooms per dwelling 7) AGE: proportion of owner-occupied units built prior to 1940 8) DIS: weighted distances to five Boston employment centres 9) RAD: index of accessibility to radial highways 10) TAX: full-value property-tax rate per $10,000 [$/10k] 11) PTRATIO: pupil-teacher ratio by town 12) B: The result of the equation B=1000(Bk - 0.63)^2 where Bk is the proportion of blacks by town 13) LSTAT: % lower status of the population

Output variable: 1) MEDV: Median value of owner-occupied homes in $1000's [k$]

Source

StatLib - Carnegie Mellon University

Relevant Papers

Harrison, David & Rubinfeld, Daniel. (1978). Hedonic housing prices and the demand for clean air. Journal of Environmental Economics and Management. 5. 81-102. 10.1016/0095-0696(78)90006-2. LINK

Belsley, David A. & Kuh, Edwin. & Welsch, Roy E. (1980). Regression diagnostics: identifying influential data and sources of collinearity. New York: Wiley LINK

--- Original source retains full ownership of the source dataset ---

The average price paid when a Dutch private individual bought existing residential property in 2023 was about 416,000 euros. In recent years, the housing market has continued to grow in the Netherlands due to low mortgage rates, a recovering economy and a high level of consumer confidence. For example, the number of registered transactions nearly doubled between 2011 and 2021, before declining in 2022.

There is more to housing affordability than the rent or mortgage you pay. Transportation costs are the second-biggest budget item for most families, but it can be difficult for people to fully factor transportation costs into decisions about where to live and work. The Location Affordability Index (LAI) is a user-friendly source of standardized data at the neighborhood (census tract) level on combined housing and transportation costs to help consumers, policymakers, and developers make more informed decisions about where to live, work, and invest. Compare eight household profiles (see table below) —which vary by household income, size, and number of commuters—and see the impact of the built environment on affordability in a given location while holding household demographics constant.*$11,880 for a single person household in 2016 according to US Dept. of Health and Human Services: https://aspe.hhs.gov/computations-2016-poverty-guidelinesThis layer is symbolized by the percentage of housing and transportation costs as a percentage of income for the Median-Income Family profile, but the costs as a percentage of income for all household profiles are listed in the pop-up:Also available is a gallery of 8 web maps (one for each household profile) all symbolized the same way for easy comparison: Median-Income Family, Very Low-Income Individual, Working Individual, Single Professional, Retired Couple, Single-Parent Family, Moderate-Income Family, and Dual-Professional Family.An accompanying story map provides side-by-side comparisons and additional context.--Variables used in HUD's calculations include 24 measures such as people per household, average number of rooms per housing unit, monthly housing costs (mortgage/rent as well as utility and maintenance expenses), average number of cars per household, median commute distance, vehicle miles traveled per year, percent of trips taken on transit, street connectivity and walkability (measured by block density), and many more.To learn more about the Location Affordability Index (v.3) visit: https://www.hudexchange.info/programs/location-affordability-index/. There you will find some background and an FAQ page, which includes the question:"Manhattan, San Francisco, and downtown Boston are some of the most expensive places to live in the country, yet the LAI shows them as affordable for the typical regional household. Why?" These areas have some of the lowest transportation costs in the country, which helps offset the high cost of housing. The area median income (AMI) in these regions is also high, so when costs are shown as a percent of income for the typical regional household these neighborhoods appear affordable; however, they are generally unaffordable to households earning less than the AMI.Date of Coverage: 2012-2016 Date Released: March 2019Date Downloaded from HUD Open Data: 4/18/19Further Documentation:LAI Version 3 Data and MethodologyLAI Version 3 Technical Documentation_**The documentation below is in reference to this items placement in the NM Supply Chain Data Hub. The documentation is of use to understanding the source of this item, and how to reproduce it for updates**

Title: Location Affordability Index - NMCDC Copy

Summary: This layer contains the Location Affordability Index from U.S. Dept. of Housing and Urban Development (HUD) - standardized household, housing, and transportation cost estimates by census tract for 8 household profiles.

Notes: This map is copied from source map: https://nmcdc.maps.arcgis.com/home/item.html?id=de341c1338c5447da400c4e8c51ae1f6, created by dianaclavery_uo, and identified in Living Atlas.

Prepared by: dianaclavery_uo, copied by EMcRae_NMCDC

Source: This map is copied from source map: https://nmcdc.maps.arcgis.com/home/item.html?id=de341c1338c5447da400c4e8c51ae1f6, created by dianaclavery_uo, and identified in Living Atlas. Check the source documentation or other details above for more information about data sources.

Feature Service: https://nmcdc.maps.arcgis.com/home/item.html?id=447a461f048845979f30a2478b9e65bb

UID: 73

Data Requested: Family income spent on basic need

Method of Acquisition: Search for Location Affordability Index in the Living Atlas. Make a copy of most recent map available. To update this map, copy the most recent map available. In a new tab, open the AGOL Assistant Portal tool and use the functions in the portal to copy the new maps JSON, and paste it over the old map (this map with item id

Date Acquired: Map copied on May 10, 2022

Priority rank as Identified in 2022 (scale of 1 being the highest priority, to 11 being the lowest priority): 6

Tags: PENDING

Some of the 21 districts of Spain’s capital city are well far off the 2,800 euros per square meter that Spaniards had to pay on average to purchase a home in 2023. The Spanish capital is home to some of the wealthiest districts of Spain, such as the historic Salamanca district, which topped the list at almost 7,000 euros per square meter. Rents in SpainWhilst Madrid’s districts had the highest prices for residential real estate, the Spanish capital was not the most expensive place to rent. Ibiza topped the list of the least affordable properties to rent, with households hypothetically requiring over 162 percent of their full income to pay off the rent. Located in the Andalusian province of Malaga, Marbella ranked second on the list, with over 156 percent of the full household income. Spain: the rebirth of a property marketAfter a long period of time in which Spain’s real estate prices increased sharply, the market was hit by the global financial crisis of 2007, making the Spanish property bubble collapse and damaging home value. It can be seen that real estate prices in Spain initiated a solid recovery in 2015, reaching 131.9 house price index points in 2021 from a lowest point of 96.27 index points recorded in 2013. The property market has made great progress, but it is still far off the rest of its European counterparts, and it is positioned, in fact, at the bottom of the European list of the EMF’s house price index, which is led by Czechia.

What is the average price of residential property in the Netherlands? In the third quarter of 2024, a single-family home cost approximately 434,000 euros. There were large differences between the Dutch provinces, however. Single-family homes were most expensive in the central province of Utrecht with an average price of 731,000 euros, whereas a similar house in Groningen had an average price tag of 384,000 euros. Overall, the average price a private individual would pay when buying any type of existing residential property (such as single-family homes but also, for example, an apartment) was approximately 416,000 euros in 2023. Do the Dutch prefer to buy or to rent a house? The Netherlands had a slightly higher homeownership rate (the share of owner-occupied dwellings of all homes) in 2023 than other countries in Northwestern Europe. About 70 percent of all Dutch houses were owned, whereas this percentage was lower in Germany, France, and the United Kingdom. This is an effect of past developments: the price to rent ratio (the development of the nominal purchase price of a house divided by the annual rent of a similar place with 2015 as a base year) shows that the gap between house prices and rents has continuously widened in recent years. Despite a slight decline in the ratio due to slowing house price growth and accelerating rental growth, in 2023, the cost of buying a home had grown significantly faster relative to the cost of renting. Mortgages in the Netherlands Additionally, the Netherlands has one of the highest mortgage debts among private individuals in Europe. In 2024, total debt exceeded 839 billion euros. This has a political background, as the Dutch tax system allowed homeowners for many years to deduct interest paid on mortgage from pre-tax income for a maximum period of thirty years, essentially allowing for income support for homeowners. In the Netherlands, this system is known as hypotheekrenteaftrek. Note that since 2014, the Dutch government is slowly scaling this down, with a planned acceleration from 2020 onwards.

In the third quarter of 2023, Mexicans paid on average *** million Mexican pesos to acquire a residential property. Compared to the same period of the previous year, the nominal price increased by nearly ** percent. Mexico City registered the highest price for this type of property, with an average exceeding ***** million pesos per residential unit. Housing tenureCompared to renting or borrowing, house ownership is the favored form of housing tenure in Mexico. In 2020, nearly ** percent of all Mexican households owned their homes, while only ** percent rented them. Moreover, roughly ** percent of the owned households in the country were completely paid off, while the remaining households were still in the payment process. Mortgages in MexicoMortgages, or homeownership loans, are debt instruments used by individuals to acquire real estate property, without needing to pay the total cost upfront. Mortgages are universally common and important for Mexico’s residential real estate industry. In 2020, almost *** thousand mortgage loans were granted in Mexico, which was the lowest amount the country had seen in fifteen years. From the mortgage value granted that year, approximately ** percent came from private banks.

State-average cost ranges and payer responsibility for each common real-estate closing fee in Texas.

In 2024, Milan boasted some of the most expensive residential real estate properties in the country. A ranking of the priciest districts of the city for residential properties showed that home buyers could expect to pay on average close to 10,780 euros per square meter in the district Centro (historical city center). In Milan, renting a dwelling also comes at a cost. The rental price in the same area amounted to nearly 31 euros per square meter in 2024. Milan, an attractive destination Milan is one of the most dynamic Italian cities. In recent years, the city was able to create jobs and expand investments in many sectors, attracting capital and talent both from Italy and from foreign countries. This growth was reflected also in the real estate market, which has proved to be the most dynamic in the country in recent years. Transactions in residential real estate in Milan increased steadily since 2012. Moreover, Milan was one of the most popular cities in Italy for residential property purchase as an investment. More tourists after Expo 2015 Hosting the Expo 2015 was a brave bet for the city. Thanks to public and private investments, Milan could carry out much-needed projects in terms of infrastructure and regeneration of some central areas of the city. In this sense, Expo 2015 also allowed the city to place itself on the map of the most popular tourist destinations in Europe and left a positive effect on the city’s tourism fluxes. International visitors have increased steadily since it was announced that the city would be the host of the global event, and continued to do so also in the years following the Expo.

In October 2024, the interest rate for mortgages with an initial rate fixation of five and up to ten years was 3.23 percent. This mortgage rate saw a general increase since the beginning of 2022 until the end of 2023, however started to decline in 2024. Falling mortgage rates might be a reason for the value of new mortgage lending rose in 2024. As borrowing costs increase, taking out a mortgage becomes less affordable for home buyers, also leading to the mortgage market slowing down. What about housing prices in Belgium? On average, a house cost approximately 319,000 euros in Belgium in 2022. Big price differences are observed, however, among the three regions of the country. A house in the French-speaking region of Wallonia is much more expensive on average than a house in the Brussels-Capital Region (the city of Brussels with its surrounding villages). Belgium’s real estate market grows steadily Property transactions in Belgium are affected by the country’s fiscal system. When purchasing a house in Belgium, consumers pay the asking price plus ten (in Flanders) or 12 percent (in Wallonia and the Brussels-Capital Region) in registration rights. This makes buying a house in Belgium a long-term investment and something consumers do not do right away.

The average price of a single-family home in Metropolitan France rose in the third quarter of 2023, after dipping slightly in the previous three-month period. People interested in buying a new single-family house in were expected to pay on average approximately 352,942 euros in the third quarter of 2023. A year prior, the median house price was 340,824 euros, indicating an increase of approximately 12,000 euros. Despite the recent upward price movement, the house price index for new homes indicates a slowing pace.

Alaska, Hawaii, and Connecticut were the states with the highest average monthly utility costs in the United States in 2023. Residents paid about ****** U.S. dollars for their electricity bills in Hawaii, while the average monthly bill for natural gas came to *** U.S. dollars. This was significantly higher than in any other state. Bigger homes have higher utility costs Despite regional variations, single-family homes in the United States have grown bigger in size since 1975. This trend also means that, unless homeowners invest in energy savings measures, they will have to pay more for their utility costs. Which are the most affordable states to live in? According to the cost of living index, the three most affordable states to live in are Mississippi, Kansas, and Oklahoma. At the other end of the scale are Hawaii, District of Columbia, and New York. The index is based on housing, utilities, grocery items, transportation, health care, and miscellaneous goods and services. To buy a median priced home in Kansas City, a prospective home buyer will have to earn an annual salary of about ****** U.S. dollars.

Homeowners insurance premiums in the United States have increased in cost over the past two decades and reached a peak in 2024. The average premiums for homeowners insurance increased from ***** U.S. dollars in 2007 to ***** U.S. dollars in 2024.

In 2023, the most expensive residential rental market in Europe was London (inner) with rental costs of approximately 33.8 euros per square meter. Dublin and Paris followed with rental costs of 31.5 and 31.3 euros per square meter. Rents increased across most markets - a trend that could also be observed in the housing market. How much does an apartment cost in different European cities? Renting a furnished studio apartment in some of the leading cities in Europe can cost anywhere between 500 euros monthly (Budapest) and 2,000 euros (Amsterdam) per month. For afurnished one-bedroom apartment in Paris, France, one may be expected to pay on average 1,900 euros monthly. Which countries have the most affordable housing? The house price to rent ratio is an indicator of the affordability of owning housing over renting across European countries and is calculated as the nominal house prices divided by a rent price index. The higher the ratio, the more the gap between house prices and rental rates has widened since 2015 when the index base was 100. As of the fourth quarter of 2021, Finland, Italy, and Belgium had the lowest house price to rent ratio, meaning that buying a house was most affordable there compared to renting.

The United Kingdom (UK) is the most expensive European country for annual costs of prime industrial rent. The annual rent for industrial space in London Heathrow in the first quarter of 2025 cost ***** euros per square meter. Switzerland, Norway, Ireland, Finland, and Luxembourg were the other European countries where the average annual cost of industrial prime rents in the capital city exceeded *********** euros per square meter.

Itaim Bibi, Pinheiros, and Moema were the most expensive neighborhoods for residential real estate in São Paulo, Brazil, as October 2022. Prospective home buyers in Itaim Bibi would have to pay on average 2,900 U.S. dollars per square meter, while in Bela Vista, the same amount of space would cost them 1,000 U.S. dollars less.

In 2021, home buyers in Mozambique and Morocco had to pay about 50 percent of the value of the home before a financial institution would grant them a mortgage. The highest down payments required for a mortgage on a home was in Chad where the rate was about 70 percent. On the other hand the lowest down payments were at an average of 10 percent required in Zambia, Mauritius, and Kenya among other countries.

As of September 2023, the average home deposit for first-time buyers who had to pay a 10 percent deposit in Auckland, New Zealand was 99,000 New Zealand dollars. For buyers who had to pay a 20 percent deposit for a house in Auckland, the average was 198,000 New Zealand dollars.