Posted 04/12/2018


Where not to buy a home: the nation’s most expensive housing markets

housing markets

Aly J. Yale

The Mortgage Reports Contributor

Breaking the bank

It’s no secret that home prices have risen in recent months, but in some housing markets, they’ve gone off the charts. Where are the most expensive places to buy a home? A new study has the answers.

Verify your new rate (Apr 21st, 2018)

Costliest counties in America

Financial website 24/7 Wall St. recently used median home values data to hone in on the most expensive housing markets in every state.

The costliest counties hailed from New York, California, Virginia and Massachusetts. In fact, in California’s San Francisco County, buyers pay $1.08 million for their homes and have a median mortgage payment of $4,395 per month.

Massachusetts’ Nantucket County and New York’s New York County came in just below the $1 million mark, with median home prices of $977K and $932K, respectively.

“The counties with the most expensive housing markets are frequently within large metropolitan areas,” 24/7 Wall St.’s Michael B. Sauter reported. “In fact, 38 of the counties on this list are near urban centers. Large cities are often home to specialized jobs in some of the nation’s highest paying industries.”

Where to buy: America’s most and least expensive big cities

In more rural states, even the costliest markets clocked in at a fairly affordable price point – at least compared to the nation’s median price of $210K.

In Arkansas for example, the state’s most expensive county – Benton – has a median home price of just $187,490. Residents in Benton County have a median mortgage payment of $759 per month.

Hope for Millennials? The 15 best states for today’s young home buyers

McClain County – Oklahoma’s costliest market – also comes in below the national average, with a median home price of $174,667. Its residents pay just over $700 per month in mortgage payments. Nebraska’s Washington County was also below the national median home price at $206K.

Verify your new rate (Apr 21st, 2018)

Get today’s mortgage rates

Not all housing markets come with sky-high costs. In fact, there are plenty of hot neighborhoods that won’t break the bank. Want to see what you can afford? Shop around and get today’s mortgage rates now.

Aly J. Yale

The Mortgage Reports Contributor

Aly J. Yale is a mortgage and real estate writer based in Houston. Connect with her at or on Twitter

The information contained on The Mortgage Reports website is for informational purposes only and is not an advertisement for products offered by Full Beaker. The views and opinions expressed herein are those of the author and do not reflect the policy or position of Full Beaker, its officers, parent, or affiliates.

3 Testimonials

Elaine A. Marketing

The Mortgage Reports is fantastic. I read it thoroughly and learn so much.

Mike P.

The Mortgage Reports has provided me with helpful advice. I enjoy all the various types of mortgage information. Thank you!

Elizabeth C. Librarian

Thanks to The Mortgage Reports, I have a new, very low rate for my home. I owe you so much.

2018 Conforming, FHA, & VA Loan Limits

Mortgage loan limits for every U.S. county, as published by Fannie Mae & Freddie Mac, the Federal Housing Administration (FHA), and the Department of Veterans Affairs (VA)