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Yahoo
21-07-2025
- Business
- Yahoo
Number of housing markets with falling home prices jumps sharply to 109—up from 31 in January
Want more housing market stories from Lance Lambert's ResiClub in your inbox? Subscribe to the ResiClub newsletter. Number of housing markets with falling home prices jumps sharply to 109—up from 31 in January AI isn't coming for your job—it's coming for your whole org chart What is Opendoor? OPEN stock price soars as housing market platform becomes the latest meme stock National home prices rose 0.2% year over year from June 2024 to June 2025, according to the Zillow Home Value Index reading published July 17—decelerated from the 3.2% year-over-year rate from June 2023 to June 2024. And more metro-area housing markets are seeing declines: —> 31 of the nation's 300 largest housing markets (10%) had a falling year-over-year reading in the January 2024 to January 2025 window. —> 42 of the nation's 300 largest housing markets (14%) had a falling year-over-year reading in the February 2024 to February 2025 window. —> 60 of the nation's 300 largest housing markets (20%) had a falling year-over-year reading in the March 2024 to March 2025 window. —> 80 of the nation's 300 largest housing markets (27%) had a falling year-over-year reading in the April 2024 to April 2025 window. —> 96 of the nation's 300 largest housing markets (32%) had a falling year-over-year reading in the May 2024 to May 2025 window. —> 109 of the nation's 300 largest housing markets (36%) had a falling year-over-year reading in the June 2024 to June 2025 window. While 36% of the 300 largest housing markets are currently experiencing year-over-year home price declines, that share is gradually increasing as the supply-demand balance continues to shift directionally toward buyers in this affordability-constrained and post-housing boom environment. Home prices are still climbing in many regions where active inventory remains well below pre-pandemic 2019 levels, such as pockets of the Northeast and Midwest. In contrast, some pockets in states like Arizona, Texas, Florida, Colorado, and Louisiana—where active inventory exceeds pre-pandemic 2019 levels—are seeing modest home price corrections. Year-over-year home value declines, using the Zillow Home Value Index, are evident in major metros such as Austin (-5.8%); Tampa, Florida (-5.7%); Miami (-3.8%); Dallas (-3.7%); Orlando (-3.7%); Phoenix (-3.5%); San Francisco (-3.4%); San Antonio (-3.3%); Jacksonville, Florida (-3.2%); Atlanta (-2.9%); Denver (-2.7%); San Diego (-2.4%); Raleigh, North Carolina (-2.1%); Sacramento (-1.8%); Houston (-1.8%); Riverside, California (-1.5%); New Orleans (-1.2%); Charlotte, North Carolina (-1.0%); Memphis (-1.0%); San Jose (-0.9%); Portland, Oregon (-0.4%); Seattle (-0.1%); Los Angeles (-0.4%); and Birmingham, Alabama (-0.1%). Click here for an interactive version of the chart below. The markets seeing the most softness, where homebuyers have gained the most leverage, are primarily located in Sun Belt regions, particularly the Gulf Coast and Mountain West. Many of these areas saw major price surges during the Pandemic Housing Boom, with home price growth outpacing local income levels. As pandemic-driven domestic migration slowed and mortgage rates rose, markets like Tampa and Austin faced challenges, relying on local income levels to support frothy home prices. This softening trend is further compounded by an abundance of new home supply in the Sun Belt. Builders are often willing to lower prices or offer affordability incentives to maintain sales, which also has a cooling effect on the resale market. Some buyers who would have previously considered existing homes are now opting for new homes with more favorable deals. Given the shift in active housing inventory and months of supply, along with the soft level of appreciation in more markets this spring, ResiClub expects the number of metro areas with year-over-year home price declines in the Zillow Home Value Index to continue ticking up in the coming months. This softening and regional variation should not surprise ResiClub Pro members—we've been closely documenting it. ResiClub Pro members can view our latest analysis of home prices across 800-plus metros and 3,000-plus counties here. This post originally appeared at to get the Fast Company newsletter: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Newsweek
20-07-2025
- Business
- Newsweek
Map Shows 10 Wealthiest Suburbs In America
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Newsweek has created a map showing the 10 wealthiest suburbs in America, highlighting the regions with the highest average household incomes for 2025. The analysis is based on data provided by GOBankingRates, which ranks suburbs with at least 5,000 households and situated within metropolitan areas, using the latest figures from the U.S. Census and Zillow Home Value Index. This year's list confirmed Scarsdale, New York as the nation's wealthiest suburb for the second consecutive year, with fresh entrants from California and Texas reshaping the top 10. Why it Matters The ranking of America's wealthiest suburbs reflects broader economic trends, regional shifts in wealth, and real estate values. These affluent areas offer insights into patterns of prosperity, migration and the evolving landscape of suburban America. Policymakers and real estate analysts monitor these rankings to understand factors such as affordability, socioeconomic disparities, and emerging economic hotspots. What To Know Scarsdale, New York retained its ranking as America's richest suburb, with an average household income of $601,193 in 2023, up 2.2 percent from the previous year. Home values there also increased 3.2 percent to $1,207,528 by May 2025. Rye, New York, another suburb of New York City, ranked second with an average household income of $421,259 and a home value of $1,875,248. West University Place, Texas secured the third spot with an average income of $409,677; home values rose 4.6 percent to $982,834. Los Altos, California, located in Silicon Valley, ranked fourth with an average income of $403,512 and the highest average home value among the top ten at $4,562,702. Alamo, California entered the top 10 for the first time, ranking fifth. Its average household income rose 1.1 percent to $403,334, even as home values dipped slightly by 1.8 percent to $2,550,706. University Park, Texas, a Dallas suburb, took sixth place with a $389,868 average household income and a home value of $2,456,871. Southlake, Texas, also climbed into the top 10 for the first time, reaching seventh with an income average of $382,520 and a home value of $1,290,325. Hinsdale, Illinois, had an average household income of $376,366 and a home value of $1,234,894. Orinda, California's average household income was $369,073 and its average home value was $1,993,154 Wellesley, Massachusetts completed the top ten list with an average household income of $368,179 and a home value of $2,079,414. California dominated the top 50 with 17 entries, followed by Texas with five, including three in the top 10. Ranking focused on mean household income, a choice that typically emphasizes the concentration of wealth rather than median income, which can be substantially lower and less influenced by outliers. Who People Are Saying A senior financial expert at GOBankingRates, Rudri Patel, spoke about how most of these wealthy suburbs are a fair distance away from urban centers but close enough to get to easily. "You can stay in your bubble, but also get out of your bubble and still get the things you need," she told USA Today. What Happens Next Analysts anticipate continued scrutiny and interest in suburban affluence, particularly as housing markets, migration trends and regional economies evolve. Real estate professionals and economists will be monitoring whether these suburbs maintain their rankings into 2026, especially as rising home values impact affordability and household migration. The methodology used by GOBankingRates—focusing on mean household income—may continue to shine a spotlight on a select group of ultra-wealthy communities, while sparking public discussions about inequality and the factors driving suburban success in different parts of the country.
Yahoo
18-07-2025
- Business
- Yahoo
Southwest Florida's housing market is undergoing a material home price correction—here's why
Want more housing market stories from Lance Lambert's ResiClub in your inbox? Subscribe to the ResiClub newsletter. The Platinum Card is about to change. Amex's new fast-format airport lounge might be a sneak preview Southwest Florida's housing market is undergoing a material home price correction—here's why This new tax deduction in Trump's 'big, beautiful bill' lets people cash in on charitable donations up to $2,000. Here's what to know Back in June 2022, this home at 1137 Treasure Cay Court in Punta Gorda, Florida, was purchased for $985,000. Just one month later, home prices in the Punta Gorda metro area peaked, and the market slipped into what ResiClub calls 'correction mode.' In April 2025, the homeowner listed the property for sale at $1,150,000, and the price has since been cut six times, with the most recent asking price at $899,000. The home just went 'pending,' though it will be a few weeks before we know the final sale price. If the home ultimately sells for $899,000—8.7% below its June 2022 purchase price—the seller might consider themselves lucky. Bank of America's automated valuation model (AVM)—although I take those with a big grain of salt—estimates the home's value at $721,615, and ResiClub's analysis of the Zillow Home Value Index shows that home prices in the Punta Gorda metro area are down 18.6% since the market's July 2022 peak. As we've closely documented for ResiClub PRO members for quite some time (here's our feature on just Punta Gorda), Southwest Florida is the weakest regional chunk of the U.S. housing market. While the Austin metro area in Texas has seen a larger overall price drop this cycle (down 23% since its 2022 peak), it isn't experiencing year-over-year price declines as steep as those seen in Southwest Florida markets like Cape Coral and Punta Gorda right now. We should point out that the weakness in Southwest Florida—and Florida more broadly—is currently more pronounced in the condo market than in the single-family market. Take Punta Gorda, for example: Single-family home prices are down 13.6% from their 2022 peak, while condo prices there have fallen 20.4%. Heading forward, one big question is: Have home prices fallen enough in markets like Punta Gorda and Cape Coral to get the attention of homebuyers, mom-and-pop single-family investors, and single-family acquisition capital? That's something we'll do some reporting on in the coming weeks for ResiClub PRO members. What's the story with Florida—in particular SWFL—right now? As ResiClub has previously discussed, Florida's particularly intense overheating during the pandemic housing boom is the key reason for its pricing vulnerability right now. While U.S. home prices rose 41% between March 2020 and June 2022, Florida home prices surged 51% over the same period. It just takes a big enough shift in the supply-demand equilibrium for that vulnerability to manifest into falling home prices. Why has the supply-demand equilibrium in Florida markets recently shifted further toward buyers than in the rest of the nation? As ResiClub has previously covered, it's a combination of five factors. 1. The migration surge to Florida fizzled out The pandemic housing boom's domestic migration surge to Florida has fizzled out. Indeed, Florida saw net domestic migration of +64K in 2024, compared with +314K in 2022. Without that higher influx of deep-pocketed buyers and second homebuyers from up north, Florida home prices have had to rely more on local incomes. 2. Surfside condo fallout Following the Surfside condo collapse in June 2021, which killed 98 people, Florida passed new structural safety rules requiring more inspections and additional funds for repairs to be set aside by the end of 2024. That has led to Florida HOAs issuing sky-high special assessments and monthly HOA fee increases to cover these costs. This has had a greater impact on older coastal Florida condo buildings. 3. Hurricane Ian spurred a softening Hurricane Ian spurred a greater SWFL softening. Markets like Cape Coral and Punta Gorda, which were hit hard by Hurricane Ian in September 2022, saw thousands of damaged homes and the subsequent need for renovations. According to the National Oceanic and Atmospheric Administration, Hurricane Ian caused an estimated $112.9 billion worth of total damage, making it the third-costliest U.S. hurricane on record. This combination of increased housing supply for sale (i.e., the damaged homes) and strained demand (the result of spiked home prices)—as well as spiked mortgage rates, higher insurance premiums, and higher HOA fees—has translated into market softening across much of Southwest Florida. 4. New construction supply elasticity Unlike many housing markets in the Northeast and Midwest, Florida has a higher level of homebuilding and multifamily construction. As new supply enters the market in this affordability-strained environment, builders are using bigger affordability adjustments—such as mortgage rate buydowns—where needed. This has helped cool the resale market by drawing in some buyers who might have otherwise purchased existing homes. As a result, inventory of existing homes is building up, making Florida one of the few housing markets where active listings now exceed pre-pandemic 2019 levels. 5. Home insurance shocks Over the past three years, the median annual U.S. home insurance premium has jumped 33%, but Florida homeowners have been hit even harder. The surge in Florida home insurance rates is partly driven by rising replacement costs—home prices and construction costs soared during the boom—and partly by increased hurricane risks and insurance payouts. Florida's sharp rise in insurance costs, combined with one of the biggest home price increases during the pandemic housing boom, has led to one of the biggest housing affordability deteriorations. (ResiClub PRO members can find our latest county-level home insurance report here.) This post originally appeared at to get the Fast Company newsletter: Sign in to access your portfolio
Yahoo
16-07-2025
- Business
- Yahoo
These Are America's 50 Wealthiest Suburbs in 2025
Recognized as America's wealthiest suburb in 2024, Scarsdale, New York, is the nation's wealthiest suburb for a second year in a row, according to yearly rankings conducted by GOBankingRates' analytics team. That's Interesting: View More: GOBankingRates followed the methodology used for 2024's list of wealthy suburbs to determine the rankings for 2025. This included analyzing qualifying cities with 5,000 households that are part of a metropolitan statistical area (but not a principal city) and isolating the 50 suburbs with the highest average household income. Though it did not determine rankings, the average home value was sourced from the Zillow Home Value Index for May 2025 for added context. For the suburbs not listed on the Zillow Home Value Index, the ZIP codes making up the suburb were used. The 2022 mean household income was used with the BLS CPI Inflation calculator to find the 2023 value and the one-year change in dollar and percentages was calculated for the home value and inflation-adjusted household mean income. For the second year in a row, Scarsdale is America's wealthiest suburb. The suburb's household mean income for 2022 was $588,014 (adjusted for 2023 inflation) and $601,193 for 2023, increasing by 2.2% over one-year. This year's 10 wealthiest suburbs featured two surprising newcomers: Alamo, California, and Southlake, Texas, ranked fifth and seventh. In 2024, Southlake ranked 13th, but Alamo didn't rank in the top 50 at all. The top 50 includes six new wealthy suburbs: Alamo, California (#5); Coto de Caza, California (#22); Lake Butler, Florida (#40); Colleyville, Texas (#47); Newton, Massachusetts (#49); and Brentwood, Tennessee (#50). For the second year running, California has the most wealthy suburbs in the top 50. The total for 2025 is 17, up from 16 in 2024. The five most expensive California suburbs are Los Altos ($403,512), Alamo ($403,334), Orinda ($369,073), Palos Verdes Estates ($367,178) and Saratoga ($344,319). Five Texas suburbs ranked in the top 50 — three in the top 10: West University Place (#3), University Park (#6), Southlake (#7), Bellaire (#23) and Colleyville (#47). Palm Beach (#13), Pinecrest (#21) and Lake Butler (#40) ranked as Florida's three wealthiest suburbs. See which suburbs rank among the 50 wealthiest in America, ranked by highest average household income. Find Out: See More: Suburb of: New York City Average household income (2023): $601,193 Average household income (2022): $588,014 2022-2023 one-year income change (%): 2.2% May 2025 home value: $1,207,528 May 2024 home value: $1,170,138 2024-2025 home value change (%): 3.2% For You: Suburb of: New York City Average household income (2023): $421,259 Average household income (2022): $418,653 2022-2023 one-year income change (%): 0.6% May 2025 home value: $1,875,248 May 2024 home value: $1,796,232 2024-2025 home value change (%): 4.4% Suburb of: Houston Average household income (2023): $409,677 Average household income (2022): $417,382 2022-2023 one-year income change (%): -1.9% May 2025 home value: $982,834 May 2024 home value: $939,538 2024-2025 home value change (%): 4.6% Suburb of: San Jose, California Average household income (2023): $403,512 Average household income (2022): $414,253 2022-2023 one-year income change (%): -2.6% May 2025 home value: $4,562,702 May 2024 home value: $4,302,208 2024-2025 home value change (%): 6.1% Suburb of: Oakland, California Average household income (2023): $403,334 Average household income (2022): $398,905 2022-2023 one-year income change (%): 1.1% May 2025 home value: $2,550,706 May 2024 home value: $2,598,591 2024-2025 home value change (%): -1.8% Suburb of: Dallas Average household income (2023): $389,868 Average household income (2022): $394,014 2022-2023 one-year income change (%): -1.1% May 2025 home value: $2,456,871 May 2024 home value: $2,340,582 2024-2025 home value change (%): 5% Discover More: Suburb of: Fort Worth, Texas Average household income (2023): $382,520 Average household income (2022): $372,148 2022-2023 one-year income change (%): 2.8% May 2025 home value: $1,290,325 May 2024 home value: $1,257,925 2024-2025 home value change (%): 2.6% Suburb of: Chicago Average household income (2023): $376,366 Average household income (2022): $393,233 2022-2023 one-year income change (%): -4.3% May 2025 home value: $1,234,894 May 2024 home value: $1,144,821 2024-2025 home value change (%): 7.9% Suburb of: Oakland, California Average household income (2023): $369,073 Average household income (2022): $382,613 2022-2023 one-year income change (%): -3.5% May 2025 home value: $1,993,154 May 2024 home value: $2,019,537 2024-2025 home value change (%): -1.3% Suburb of: Boston Average household income (2023): $368,179 Average household income (2022): $380,130 2022-2023 one-year income change (%): -3.1% May 2025 home value: $2,079,414 May 2024 home value: $2,001,266 2024-2025 home value change (%): 3.9% Suburb of: Los Angeles Average household income (2023): $367,178 Average household income (2022): $353,943 2022-2023 one-year income change (%): 3.7% May 2025 home value: $2,800,352 May 2024 home value: $2,784,529 2024-2025 home value change (%): 0.6% Read Next: Suburb of: Washington, D.C. Average household income (2023): $364,591 Average household income (2022): $376,298 2022-2023 one-year income change (%): -3.1% May 2025 home value: $1,741,410 May 2024 home value: $1,633,896 2024-2025 home value change (%): 6.6% Suburb of: Fort Lauderdale, Florida Average household income (2023): $356,467 Average household income (2022): $378,259 2022-2023 one-year income change (%): -5.8% May 2025 home value: $10,310,928 May 2024 home value: $10,556,860 2024-2025 home value change (%): -2.3% Suburb of: San Jose, California Average household income (2023): $344,319 Average household income (2022): $340,175 2022-2023 one-year income change (%): 1.2% May 2025 home value: $4,118,931 May 2024 home value: $3,887,600 2024-2025 home value change (%): 6% Suburb of: San Jose, California Average household income (2023): $339,415 Average household income (2022): $327,196 2022-2023 one-year income change (%): 3.7% May 2025 home value: $2,960,270 May 2024 home value: $2,805,030 2024-2025 home value change (%): 5.5% Suburb of: San Francisco Average household income (2023): $335,300 Average household income (2022): $308,400 2022-2023 one-year income change (%): 8.7% May 2025 home value: $2,524,724 May 2024 home value: $2,404,205 2024-2025 home value change (%): 5% Check Out: Suburb of: Oakland, California Average household income (2023): $319,744 Average household income (2022): $322,699 2022-2023 one-year income change (%): -0.9% May 2025 home value: $1,974,136 May 2024 home value: $2,009,694 2024-2025 home value change (%): -1.8% Suburb of: San Jose, California Average household income (2023): $317,745 Average household income (2022): $315,899 2022-2023 one-year income change (%): 0.6% May 2025 home value: $2,787,130 May 2024 home value: $2,679,568 2024-2025 home value change (%): 4% Suburb of: Los Angeles Average household income (2023): $316,810 Average household income (2022): $321,370 2022-2023 one-year income change (%): -1.4% May 2025 home value: $2,450,111 May 2024 home value: $2,401,095 2024-2025 home value change (%): 2% Suburb of: Washington, D.C. Average household income (2023): $316,271 Average household income (2022): $311,906 2022-2023 one-year income change (%): 1.4% May 2025 home value: $1,196,770 May 2024 home value: $1,145,448 2024-2025 home value change (%): 4.5% Suburb of: Miami Average household income (2023): $312,591 Average household income (2022): $314,620 2022-2023 one-year income change (%): -0.7% May 2025 home value: $2,398,740 May 2024 home value: $2,402,543 2024-2025 home value change (%): -0.2% Explore Next: Suburb of: Irvine, California Average household income (2023): $312,324 Average household income (2022): $316,141 2022-2023 one-year income change (%): -1.2% May 2025 home value: $2,167,716 May 2024 home value: $2,030,982 2024-2025 home value change (%): 6.7% Suburb of: Houston Average household income (2023): $311,033 Average household income (2022): $304,481 2022-2023 one-year income change (%): 2.2% May 2025 home value: $1,132,863 May 2024 home value: $1,083,298 2024-2025 home value change (%): 4.6% Suburb of: San Francisco Average household income (2023): $308,837 Average household income (2022): $311,323 2022-2023 one-year income change (%): -0.8% May 2025 home value: $3,833,432 May 2024 home value: $3,695,800 2024-2025 home value change (%): 3.7% Suburb of: San Francisco Average household income (2023): $308,154 Average household income (2022): $313,801 2022-2023 one-year income change (%): -1.8% May 2025 home value: $2,122,176 May 2024 home value: $2,177,206 2024-2025 home value change (%): -2.5% Suburb of: New York City Average household income (2023): $306,103 Average household income (2022): $300,854 2022-2023 one-year income change (%): 1.7% May 2025 home value: $1,277,783 May 2024 home value: $1,229,706 2024-2025 home value change (%): 3.9% Trending Now: Suburb of: Washington, D.C. Average household income (2023): $304,509 Average household income (2022): $297,569 2022-2023 one-year income change (%): 2.3% May 2025 home value: $1,417,246 May 2024 home value: $1,371,062 2024-2025 home value change (%): 3.4% Suburb of: New York City Average household income (2023): $304,408 Average household income (2022): $301,281 2022-2023 one-year income change (%): 1% May 2025 home value: $1,340,832 May 2024 home value: $1,272,756 2024-2025 home value change (%): 5.4% Suburb of: Seattle Average household income (2023): $303,425 Average household income (2022): $300,398 2022-2023 one-year income change (%): 1% May 2025 home value: $2,507,485 May 2024 home value: $2,410,321 2024-2025 home value change (%): 4% Suburb of: Birmingham, Alabama Average household income (2023): $302,510 Average household income (2022): $276,298 2022-2023 one-year income change (%): 9.5% May 2025 home value: $1,037,577 May 2024 home value: $1,001,510 2024-2025 home value change (%): 3.6% Suburb of: Chicago Average household income (2023): $302,171 Average household income (2022): $294,330 2022-2023 one-year income change (%): 2.7% May 2025 home value: $1,185,363 May 2024 home value: $1,117,248 2024-2025 home value change (%): 6.1% See Next: Suburb of: Boston Average household income (2023): $300,716 Average household income (2022): $290,613 2022-2023 one-year income change (%): 3.5% May 2025 home value: $1,691,412 May 2024 home value: $1,673,820 2024-2025 home value change (%): 1.1% Suburb of: New York City Average household income (2023): $297,367 Average household income (2022): $291,182 2022-2023 one-year income change (%): 2.1% May 2025 home value: $1,237,808 May 2024 home value: $1,185,081 2024-2025 home value change (%): 4.5% Suburb of: New York City Average household income (2023): $297,081 Average household income (2022): $285,614 2022-2023 one-year income change (%): 4% May 2025 home value: $2,444,110 May 2024 home value: $2,398,091 2024-2025 home value change (%): 2% Suburb of: Boston Average household income (2023): $296,327 Average household income (2022): $293,140 2022-2023 one-year income change (%): 1.1% May 2025 home value: $1,716,547 May 2024 home value: $1,685,502 2024-2025 home value change (%): 1.8% Suburb of: San Jose, California Average household income (2023): $295,739 Average household income (2022): $292,552 2022-2023 one-year income change (%): 1.1% May 2025 home value: $3,270,351 May 2024 home value: $3,095,627 2024-2025 home value change (%): 5.6% View Next: Suburb of: Chicago Average household income (2023): $291,930 Average household income (2022): $282,893 2022-2023 one-year income change (%): 3.2% May 2025 home value: $999,547 May 2024 home value: $936,005 2024-2025 home value change (%): 6.8% Suburb of: Washington, D.C. Average household income (2023): $290,678 Average household income (2022): $291,025 2022-2023 one-year income change (%): -0.1% May 2025 home value: $1,334,020 May 2024 home value: $1,289,680 2024-2025 home value change (%): 3.4% Suburb of: Los Angeles Average household income (2023): $290,648 Average household income (2022): $289,872 2022-2023 one-year income change (%): 0.3% May 2025 home value: $3,060,289 May 2024 home value: $3,061,514 2024-2025 home value change (%): -0.04% Suburb of: Orlando, Florida Average household income (2023): $289,593 Average household income (2022): $278,972 2022-2023 one-year income change (%): 3.8% May 2025 home value: $283,493 May 2024 home value: $282,374 2024-2025 home value change (%): 0.4% Suburb of: New York City Average household income (2023): $288,861 Average household income (2022): $286,728 2022-2023 one-year income change (%): 0.7% May 2025 home value: $1,174,405 May 2024 home value: $1,090,022 2024-2025 home value change (%): 7.7% Learn More: Suburb of: Oakland, California Average household income (2023): $284,183 Average household income (2022): $272,988 2022-2023 one-year income change (%): 4.1% May 2025 home value: $2,028,939 May 2024 home value: $2,067,645 2024-2025 home value change (%): -1.9% Suburb of: Boston Average household income (2023): $281,049 Average household income (2022): $276,933 2022-2023 one-year income change (%): 1.5% May 2025 home value: $1,586,378 May 2024 home value: $1,568,936 2024-2025 home value change (%): 1.1% Suburb of: Seattle Average household income (2023): $280,644 Average household income (2022): $270,527 2022-2023 one-year income change (%): 3.7% May 2025 home value: $1,775,255 May 2024 home value: $1,677,194 2024-2025 home value change (%): 5.9% Suburb of: Washington, D.C. Average household income (2023): $273,768 Average household income (2022): $274,652 2022-2023 one-year income change (%): -0.3% May 2025 home value: $1,206,800 May 2024 home value: $1,147,636 2024-2025 home value change (%): 5.2% Suburb of: New York City Average household income (2023): $270,581 Average household income (2022): $271,530 2022-2023 one-year income change (%): -0.4% May 2025 home value: $1,107,409 May 2024 home value: $977,324 2024-2025 home value change (%): 13.3% For You: Suburb of: Fort Worth, Texas Average household income (2023): $265,831 Average household income (2022): $264,414 2022-2023 one-year income change (%): 0.5% May 2025 home value: $923,032 May 2024 home value: $907,939 2024-2025 home value change (%): 1.7% Suburb of: Oakland, California Average household income (2023): $262,781 Average household income (2022): $268,166 2022-2023 one-year income change (%): -2% May 2025 home value: $1,771,189 May 2024 home value: $1,839,305 2024-2025 home value change (%): -3.7% Suburb of: Boston Average household income (2023): $261,666 Average household income (2022): $259,631 2022-2023 one-year income change (%): 0.8% May 2025 home value: $1,745,616 May 2024 home value: $1,720,939 2024-2025 home value change (%): 1.4% Suburb of: Nashville, Tennessee Average household income (2023): $261,248 Average household income (2022): $260,318 2022-2023 one-year income change (%): 0.4% May 2025 home value: $1,419,146 May 2024 home value: $1,347,813 2024-2025 home value change (%): 5.3% Methodology: For this study, GOBankingRates analyzed cities with at least 5,000 households, as sourced from the U.S. Census 2023 American Community Survey. The 50 suburbs with the highest average household income were isolated. Several factors were found for each city including total population, population ages 65 and over, total households, household median income and household mean income all sourced from the US Census 2023 American Community Survey. The average single-family home value was sourced from Zillow Home Value Index for May 2025. If the suburb was not listed on Zillow Home Value Index, the ZIP codes that make up the suburb were used. To qualify for this study, the city had to have at least 5,000 households and be a part of a metropolitan statistical area but not be a principal city, a city named in the MSA's title. The 2022 mean household income was used with the BLS CPI Inflation calculator to find the 2023 value. The one-year change in dollar and percentages was calculated for the home value and inflation-adjusted household mean income. The suburbs were sorted to show the highest average household income first, representing the wealthiest suburbs in America. All data was collected on and is up to date as of July 1, 2025. More From GOBankingRates Mark Cuban Warns of 'Red Rural Recession' -- 4 States That Could Get Hit Hard Mark Cuban Tells Americans To Stock Up on Consumables as Trump's Tariffs Hit -- Here's What To Buy 6 Popular SUVs That Aren't Worth the Cost -- and 6 Affordable Alternatives This article originally appeared on These Are America's 50 Wealthiest Suburbs in 2025
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15-07-2025
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The Most Expensive Place To Buy a Home in Every Midwestern State
When searching for the most expensive communities in which to buy a home throughout the American Midwest, here's a good rule of thumb: Look for the lakes. Many of the towns with the priciest real estate in the American middle are located on lakes, which offer stunning scenic views that help drive up housing prices. Check Out: Learn This: Recently, GOBankingRates studied information from Zillow Home Value Index to find the American towns and cities with the most expensive median home values in each and every state. From that analysis, GOBankingRates found that in some cases low housing availability and restricted land development kept prices high, as did a close distance to much larger cities. In many cases, though, what kept real estate prices in the stratosphere were communities built on the shorelines of many of America's great (and Great) lakes. Check out the most expensive place to buy a home in every Midwestern state. Median home value: $1,888,854 Population: 2,543 Being a suburb in close proximity to Chicago helps keep Kenilworth the most expensive town in Illinois, providing a haven for the wealthy who work in the Windy City but want to live in a more quiet environment. Additionally, Kenilworth is known for an excellent private school system, further attracting the wealthy families of Illinois. Find More: Read This: Median home value: $822,001 Population: 247 Per The Times of Northwest Indiana, the homes in Dune Acres are approximately 328% more expensive than the average price of homes anywhere else in Indiana. Why? A primary reason is that Dune Acres is located on the southern shoreline of Lake Michigan, providing a stunning — and stunningly expensive — view. Also See: Median home value: $1,012,022 Population: 806 Much like Dune Acres, Okoboji is based upon a shoreline (in this case, of the Iowa Great Lakes), automatically providing residents with some of most gorgeous scenery of the state. Okoboji is home to wealthy water sports enthusiasts who can afford to own a boat or two on the lakes, and the town has become a summer vacation spot for those who can afford to own seasonal homes in the area. Median home value: $1,494,852 Population: 3,556 Designed in the 1920s to be part of a 'country club district,' Mission Hills is replete with historic mansions, resorts and country clubs — all of which add to a staggeringly high quality of life for residents in the area. Median home value: $1,676,657 Population: 277 Not only is Lake Angelus a short half-hour drive from Detroit (allowing the wealthy of Detroit a quiet and beautiful suburb to live in), it's yet another town in the Midwest that's built upon the shore of a lake. Additionally, the town is built around a private lake, giving the community a level of exclusivity that only the wealthy can afford, per Russ Ravary Realty. Enjoy This: Median home value: $2,052,336 Population: 410 Minnetonka Beach (with a population of only 410) reportedly has the most expensive homes in all of Minnesota. Why? The tiny community is surrounded on three sides by Lake Minnetonka and can contain approximately only 230 homes — a quirk of geography that creates an automatic exclusivity that makes it an extraordinarily expensive place to buy a home. Median home value: $2,314,658 Population: 384 This very small community — Huntleigh is less than one square mile in size — reportedly has home values that reach up to $15 million. The town is wholly a residential one, with no businesses whatsoever, making an exclusive community just for wealth living; moreover, its relative closeness to St. Louis makes a beacon for the wealthy who work there. Many of the estates in Huntleigh sit upon large acreage, making housing very limited — and expensive — in the very small community. Median home value: $635,678 Population: 624 Home Stratosphere has noted that the small community of Walton has very low housing availability, driving up demand (and prices). The town is also rather close to Lincoln, making it a beacon for those who want to work in the big city but live in the quiet suburbs. Learn More: Median home value: $545,618 Population: 888 Reiles Acres is another suburb that is very close to a much larger city — in this case, Fargo. Such proximity makes it a draw for the wealthy who prefer to work in the city and live in the exclusive suburbs. Also like other such communities, Reiles Acres has very limited housing availability, further increasing prices. Median home value: $1,584,388 Population: 780 Hunting Valley is marked by a high number of expensive private estates, country clubs and horse riding facilities — keeping real estate prices rather high. The community is also surrounded by a great deal of natural beauty, with residents owning expansive land parcels — keeping the availability of housing low. Median home value: $1,793,876 Population: 699 Oconomowoc Lake is yet another Midwestern community in this gallery that is located on the shoreline of a beautiful lake. Such proximity to a stellar view and natural beauty keeps house prices high, with some mansions going for as high as $13 million, per the Milwaukee Journal Sentinel. Methodology: To find the most expensive place to buy a home in every state, GOBankingRates analyzed every state to find the cities with the most expensive median home values, as sourced from Zillow Home Value Index. For each city, the total population was sourced from the U.S. Census American Consumer Survey as supplemental data. All data was collected on and is up to date as of May 28, 2025. More From GOBankingRates Mark Cuban Warns of 'Red Rural Recession' -- 4 States That Could Get Hit Hard 10 Unreliable SUVs To Stay Away From Buying How Much Money Is Needed To Be Considered Middle Class in Your State? This article originally appeared on The Most Expensive Place To Buy a Home in Every Midwestern State Sign in to access your portfolio
