County Median Home Prices and Monthly Mortgage Payment
Median Home Values
The map above allows you to see the median home price for each county. Applying the House Price Index growth from FHFA to the latest housing data from the American Community Survey (ACS), we calculated a median home value for 3,119 counties and county-equivalents in the United States. Home values represent the value of all homes instead of home sales.
Here is the list of the counties with the highest median home values in the 2nd quarter of 2021:
- New York County, NY: $1,227,100
- Nantucket County, MA: $1,218,800
- San Mateo County, CA: $1,195,300
- Santa Clara County, CA: $1,187,200
- San Francisco County, CA: $1,179,700
In the meantime, home prices continue to rise due to the record low housing inventory. In fact, rising home prices threaten housing affordability and significant concerns have been raised about its effects on affordability especially at local level. Although mortgage rates are lower than a year earlier, the mortgage payment is higher in 98% of the counties across the country due to the fast price appreciation. This causes many would-be homebuyers to be priced out of the market.
The tool below shows you the monthly mortgage payment for a 30-year fixed rate mortgage as of now compared to a year earlier. Select a state and county to see how much the payment drops due to the low mortgage rates.