Single-Family Home Prices Had Positive Price Gains in 77% of 230 Metro Areas in 2025 Q3

The National Association of REALTORS® reported that home prices continued to rise in the third quarter of 2025. National median prices rose 1.7% year over year to $426,800.  

Monthly mortgage payments on a single-family home in the third quarter increased 2.1% to $2,187 compared to $2,141 from a year ago. Qualifying median family incomes rose to $104,996 compared to the second quarter of 2025, which was $108,039, but was $102,774 a year ago. The effective 30-year fixed mortgage rate decreased to 6.63% in the third quarter of 2025, down from 6.59% one year ago. Median family incomes rose to $106,029 in the third quarter of 2025 compared to $101,821 a year ago.  

Knowing mortgage rates and qualifying income requirements for down payments will help potential homeowners determine which metro areas are affordable for them. 

Here is a look at the metro areas with the strongest price growth in the third quarter of 2025, as well as a look at the yearly change in median existing single-family home prices among the top five highest and lowest growth metro areas of the third quarter of 2025.

Top Five Single-Family Metro Areas With the Highest Home Price Appreciation in Q3 2025

• Owensboro, KY
• Rockford, IL
• Springfield, IL
• Cape Girardeau, MO-IL
• Fond du Lac, WI

The Most Expensive Single-Family Markets for Q3 2025

• San Jose-Sunnyvale-Santa Clara, CA
• Anaheim-Santa Ana-Irvine, CA
• San Francisco-Oakland-Hayward, CA
• Urban Honolulu, HI
• Salinas, CA

Qualifying Income Based on Sales Price of Existing Single-family Homes for Metropolitan Areas by Region, Q3 2025

For the US, at the 5% down-payment threshold, the qualifying income amount for the third quarter of 2025 was $124,682. At the 10% down-payment mark, the qualifying income was $118,120, and with a 20% down-payment, the income required to qualify for a mortgage was $104,996. The West had the highest qualifying income, while the Midwest had the lowest income for 5%, 10%, and 20% down payments on a single-family home.