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.

House prices grew year-on-year in most states in the U.S. in the third quarter of 2024. The District of Columbia was the only exception, with a decline of ***** percent. The annual appreciation for single-family housing in the U.S. was **** percent, while in Hawaii—the state where homes appreciated the most—the increase exceeded ** percent. How have home prices developed in recent years? House price growth in the U.S. has been going strong for years. In 2024, the median sales price of a single-family home exceeded ******* U.S. dollars, up from ******* U.S. dollars five years ago. One of the factors driving house prices was the cost of credit. The record-low federal funds effective rate allowed mortgage lenders to set mortgage interest rates as low as *** percent. With interest rates on the rise, home buying has also slowed, causing fluctuations in house prices. Why are house prices growing? Many markets in the U.S. are overheated because supply has not been able to keep up with demand. How many homes enter the housing market depends on the construction output, whereas the availability of existing homes for purchase depends on many other factors, such as the willingness of owners to sell. Furthermore, growing investor appetite in the housing sector means that prospective homebuyers have some extra competition to worry about. In certain metros, for example, the share of homes bought by investors exceeded ** percent in 2024.

Graph and download economic data for All-Transactions House Price Index for New York (NYSTHPI) from Q1 1975 to Q1 2025 about appraisers, NY, HPI, housing, price index, indexes, price, and USA.

Graph and download economic data for All-Transactions House Price Index for California from Q1 1975 to Q1 2025 about appraisers, CA, HPI, housing, price index, indexes, price, and USA.

These data were developed by the Research & Analytics Group at the Atlanta Regional Commission using data from the U.S. Census Bureau across all standard and custom geographies at statewide summary level where applicable. .
For a deep dive into the data model including every specific metric, see the ACS 2018-2022 Data Manifest. The manifest details ARC-defined naming conventions, field names/descriptions and topics, summary levels; source tables; notes and so forth for all metrics. Find naming convention prefixes/suffixes, geography definitions and user notes below.Prefixes:NoneCountpPercentrRatemMedianaMean (average)tAggregate (total)chChange in absolute terms (value in t2 - value in t1)pchPercent change ((value in t2 - value in t1) / value in t1)chpChange in percent (percent in t2 - percent in t1)sSignificance flag for change: 1 = statistically significant with a 90% CI, 0 = not statistically significant, blank = cannot be computedSuffixes:_e22Estimate from 2018-22 ACS_m22Margin of Error from 2018-22 ACS_e102006-10 ACS, re-estimated to 2020 geography_m10Margin of Error from 2006-10 ACS, re-estimated to 2020 geography_e10_22Change, 2010-22 (holding constant at 2020 geography)GeographiesAAA = Area Agency on Aging (12 geographic units formed from counties providing statewide coverage)ARC21 = Atlanta Regional Commission modeling area (21 counties merged to a single geographic unit)ARWDB7 = Atlanta Regional Workforce Development Board (7 counties merged to a single geographic unit)BeltLineStatistical (buffer)BeltLineStatisticalSub (subareas)Census Tract (statewide)CFGA23 = Community Foundation for Greater Atlanta (23 counties merged to a single geographic unit)City (statewide)City of Atlanta Council Districts (City of Atlanta)City of Atlanta Neighborhood Planning Unit (City of Atlanta)City of Atlanta Neighborhood Statistical Areas (City of Atlanta)County (statewide)Georgia House (statewide)Georgia Senate (statewide)HSSA = High School Statistical Area (11 county region)MetroWater15 = Atlanta Metropolitan Water District (15 counties merged to a single geographic unit)Regional Commissions (statewide)State of Georgia (single geographic unit)Superdistrict (ARC region)US Congress (statewide)UWGA13 = United Way of Greater Atlanta (13 counties merged to a single geographic unit)ZIP Code Tabulation Areas (statewide)The user should note that American Community Survey data represent estimates derived from a surveyed sample of the population, which creates some level of uncertainty, as opposed to an exact measure of the entire population (the full census count is only conducted once every 10 years and does not cover as many detailed characteristics of the population). Therefore, any measure reported by ACS should not be taken as an exact number – this is why a corresponding margin of error (MOE) is also given for ACS measures. The size of the MOE relative to its corresponding estimate value provides an indication of confidence in the accuracy of each estimate. Each MOE is expressed in the same units as its corresponding measure; for example, if the estimate value is expressed as a number, then its MOE will also be a number; if the estimate value is expressed as a percent, then its MOE will also be a percent. The user should also note that for relatively small geographic areas, such as census tracts shown here, ACS only releases combined 5-year estimates, meaning these estimates represent rolling averages of survey results that were collected over a 5-year span (in this case 2018-2022). Therefore, these data do not represent any one specific point in time or even one specific year. For geographic areas with larger populations, 3-year and 1-year estimates are also available. For further explanation of ACS estimates and margin of error, visit Census ACS website.Source: U.S. Census Bureau, Atlanta Regional CommissionDate: 2018-2022Data License: Creative Commons Attribution 4.0 International (CC by 4.0)Link to the data manifest: https://opendata.atlantaregional.com/documents/3b86ee614e614199ba66a3ff1ebfe3b5/about

The U.S. housing market has slowed, after ** consecutive years of rising home prices. In 2021, house prices surged by an unprecedented ** percent, marking the highest increase on record. However, the market has since cooled, with the Freddie Mac House Price Index showing more modest growth between 2022 and 2024. In 2024, home prices increased by *** percent. That was lower than the long-term average of *** percent since 1990. Impact of mortgage rates on homebuying The recent cooling in the housing market can be partly attributed to rising mortgage rates. After reaching a record low of **** percent in 2021, the average annual rate on a 30-year fixed-rate mortgage more than doubled in 2023. This significant increase has made homeownership less affordable for many potential buyers, contributing to a substantial decline in home sales. Despite these challenges, forecasts suggest a potential recovery in the coming years. How much does it cost to buy a house in the U.S.? In 2023, the median sales price of an existing single-family home reached a record high of over ******* U.S. dollars. Newly built homes were even pricier, despite a slight decline in the median sales price in 2023. Naturally, home prices continue to vary significantly across the country, with West Virginia being the most affordable state for homebuyers.

Graph and download economic data for All-Transactions House Price Index for Illinois (ILSTHPI) from Q1 1975 to Q1 2025 about IL, appraisers, HPI, housing, price index, indexes, price, and USA.

Mexico's housing market demonstrates significant regional price variations, with Mexico City emerging as the most expensive area for residential property in 2024. The capital city's average house price of 3.91 million Mexican pesos far exceeds the national average of 1.73 million pesos, highlighting the stark contrast in property values across the country. This disparity reflects broader economic and demographic trends shaping Mexico's real estate landscape. Sustained growth in housing prices The Mexican housing market has experienced substantial growth over the past decade, with home prices more than doubling since 2010. By the third quarter of 2023, the nominal house price index reached 255.54 points, representing a 146 percent increase from the baseline year. Even when adjusted for inflation, the real house price index showed a notable 40 percent growth, underscoring the market's resilience and attractiveness to investors. The mortgage market is dominated by three main player types: Infonavit, Fovissste, and commercial banks including Sofomes. In 2023, Infonavit, a scheme by Mexico's National Housing Fund Institute which provides lending to workers in the formal sector, was responsible for the majority of mortgages granted to individuals. Challenges in mortgage lending Despite the overall growth in housing prices, Mexico's mortgage market has faced challenges in recent years. The number of new mortgage loans granted has declined over the past decade, falling by approximately 200,000 loans between 2008 and 2023. This decrease in lending activity may be attributed to various factors, including economic uncertainties and changing consumer preferences. The state of Mexico, which is home to 13 percent of the country's population, likely plays a significant role in shaping these trends, given its large demographic influence on the national housing market.

In 2023, the median single-family home price in the state of Florida was ******* U.S. dollars, up from ******* U.S. dollars in 2012. Despite this consistent growth in home prices, the volume of single-family homes sold in the state stagnated between 2015 and 2018.

House prices in the second most populous state in the United States, Texas, have increased more than two-fold since 2011. In 2023, the median house price reached ******* U.S. dollars, a decrease of *** percent from the previous year. Texas is one of the more affordable states for buying a home with house prices below the national average.

Graph and download economic data for All-Transactions House Price Index for Florida (FLSTHPI) from Q1 1975 to Q1 2025 about appraisers, FL, HPI, housing, price index, indexes, price, and USA.

Graph and download economic data for All-Transactions House Price Index for New Jersey from Q1 1975 to Q1 2025 about NJ, appraisers, HPI, housing, price index, indexes, price, and USA.

Mexico House Prices: YoY: Chihuahua data was reported at 8.000 % in Mar 2019. This records a decrease from the previous number of 8.300 % for Dec 2018. Mexico House Prices: YoY: Chihuahua data is updated quarterly, averaging 5.600 % from Mar 2006 (Median) to Mar 2019, with 53 observations. The data reached an all-time high of 9.600 % in Sep 2015 and a record low of 2.300 % in Jun 2010. Mexico House Prices: YoY: Chihuahua data remains active status in CEIC and is reported by Federal Mortgage Society. The data is categorized under Global Database’s Mexico – Table MX.EB010: House Price Index: by State: 2017=100: Year on Year Growth.

Mexico House Prices: YoY: Oaxaca data was reported at 7.100 % in Mar 2019. This records a decrease from the previous number of 7.800 % for Dec 2018. Mexico House Prices: YoY: Oaxaca data is updated quarterly, averaging 5.900 % from Mar 2006 (Median) to Mar 2019, with 53 observations. The data reached an all-time high of 9.600 % in Sep 2015 and a record low of -0.400 % in Jun 2010. Mexico House Prices: YoY: Oaxaca data remains active status in CEIC and is reported by Federal Mortgage Society. The data is categorized under Global Database’s Mexico – Table MX.EB010: House Price Index: by State: 2017=100: Year on Year Growth.

HUD's Neighborhood Stabilization Program (www.HUD.gov/nsp) provides emergency assistance to state and local governments to acquire and redevelop foreclosed properties that might otherwise become sources of abandonment and blight within their communities. The Neighborhood Stabilization Program (NSP) provides grants to every state, certain local communities, and other organizations to purchase foreclosed or abandoned homes and to rehabilitate, resell, or redevelop these homes in order to stabilize neighborhoods and stem the decline of house values of neighboring homes. The program is authorized under Title III of the Housing and Economic Recovery Act of 2008.

Graph and download economic data for All-Transactions House Price Index for State College, PA (MSA) (ATNHPIUS44300Q) from Q1 1989 to Q1 2025 about State College, PA, appraisers, HPI, housing, price index, indexes, price, and USA.

HUD's Neighborhood Stabilization Program (www.HUD.gov/nsp) provides emergency assistance to state and local governments to acquire and redevelop foreclosed properties that might otherwise become sources of abandonment and blight within their communities. The Neighborhood Stabilization Program (NSP) provides grants to every state, certain local communities, and other organizations to purchase foreclosed or abandoned homes and to rehabilitate, resell, or redevelop these homes in order to stabilize neighborhoods and stem the decline of house values of neighboring homes. The program is authorized under Title III of the Housing and Economic Recovery Act of 2008.

The American Community Survey (ACS) 5 Year 2016-2020 housing estimate data is a subset of information derived from the following census tables:B25002 - Occupancy Status; B25009 - Tenure By Household Size;B25021 - Median Number Of Rooms By Tenure; B25024 - Units In Structure;B25032 - Tenure by Units In Structure; B25036 - Tenure By Year Structure Built;B25037 - Median Year Structure Built By Tenure; B25041 – Bedrooms;B25042 - Tenure By Bedrooms;B25056 - Contract Rent;B25058 - Median Contract Rent;B25068 - Bedrooms By Gross Rent;B25077 - Median Value;B25097 - Mortgage Status By Median Value (Dollars), and;B25123 - Tenure By Selected Physical And Financial Conditions.To learn more about the American Community Survey (ACS), and associated datasets visit: https://www.census.gov/programs-surveys/acs, for questions about the spatial attribution of this dataset, please reach out to us at GISHelpdesk@hud.gov.
Data Dictionary: DD_ACS 5-Year Housing Estimate Data by State Date of Coverage: 2016-2020

Mexico House Prices: YoY: Yucatan data was reported at 9.100 % in Mar 2019. This records a decrease from the previous number of 9.400 % for Dec 2018. Mexico House Prices: YoY: Yucatan data is updated quarterly, averaging 7.100 % from Mar 2006 (Median) to Mar 2019, with 53 observations. The data reached an all-time high of 12.700 % in Mar 2009 and a record low of 2.200 % in Sep 2012. Mexico House Prices: YoY: Yucatan data remains active status in CEIC and is reported by Federal Mortgage Society. The data is categorized under Global Database’s Mexico – Table MX.EB010: House Price Index: by State: 2017=100: Year on Year Growth.

West Virginia and Kansas had the lowest cost of living across all U.S. states, with composite costs being half of those found in Hawaii. This was according to a composite index that compares prices for various goods and services on a state-by-state basis. In West Virginia, the cost of living index amounted to **** — well below the national benchmark of 100. Virginia— which had an index value of ***** — was only slightly above that benchmark. Expensive places to live included Hawaii, Massachusetts, and California. Housing costs in the U.S. Housing is usually the highest expense in a household’s budget. In 2023, the average house sold for approximately ******* U.S. dollars, but house prices in the Northeast and West regions were significantly higher. Conversely, the South had some of the least expensive housing. In West Virginia, Mississippi, and Louisiana, the median price of the typical single-family home was less than ******* U.S. dollars. That makes living expenses in these states significantly lower than in states such as Hawaii and California, where housing is much pricier. What other expenses affect the cost of living? Utility costs such as electricity, natural gas, water, and internet also influence the cost of living. In Alaska, Hawaii, and Connecticut, the average monthly utility cost exceeded *** U.S. dollars. That was because of the significantly higher prices for electricity and natural gas in these states.