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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 3rd quarter of 2022:
- San Mateo County, CA: $1,575,280
- Marin County, CA: $1,467,100
- Santa Clara County, CA: $1,459,600
- San Francisco County, CA: $1,458,510
- Nantucket County, MA: $1,444,050
While home prices and mortgage rates have a direct impact on the size of a mortgage payment, both of these two indicators are higher than the previous year. In the third quarter of 2022, mortgage rates are double those of a year ago, increasing by nearly 3 percentage points. Meanwhile, home prices have increased more than 30 percentage points in some counties. For example, the monthly payment is about $3,500 higher in Nantucket County and nearly 3,000 higher in some counties, such as San Mateo County and Santa Clara County in California. 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.
Data
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