Home >> Daily Dose >> Top 10 Cities for Home-Price Growth
Print This Post Print This Post

Top 10 Cities for Home-Price Growth

While acceleration has slowed and some more-affordable inventory has entered the market, home prices remain at record highs nationwide. Regionally, some metros have seen more intense surges than others. The median home price in Boise, Idaho, for example, jumped nearly 13% in the first half of 2021, from $410,100 in December 2020 to $463,383 in June, a nationwide high.

That's according to data tracked by real estate brokerage HouseCanary, which revealed that cities in the southern and western parts of the country experienced the most significant growth.

“Looking at the markets experiencing the highest price growth, we have seen large migration to states with no income tax, including Florida, Washington, Nevada and Texas,” said Chris Stroud, HouseCanary Co-Founder and Chief of Research.

“There is a general migration pattern toward southern, southwestern and mountain states,” Stroud said. “While these themes were present before COVID-19 hit the U.S. in spring 2020, they have significantly accelerated as the pandemic has altered the way many Americans work and live.”

Only two metro areas on the researchers' list of cities experiencing the largest increases are located outside of that region (Atlantic City, New Jersey, and Lebanon, New Hampshire).

Using HouseCanary data, the personal finance and mortgage experts at Credible pulled together a list of the 25 cities that have seen the largest jumps in home prices through June of  this year.

Analyst Chris Jennings echoes findings from numerous other reports that show a pandemic-prompted migration away from crowded, expensive metro areas.

"This is especially true in California, where individuals are leaving expensive coastal cities like Los Angeles and San Francisco and flocking to lower-cost regions like the Central Valley and Inland Empire," Jennings noted, adding that six California metro areas made the list—and all of them are based in either the Central Valley or Inland Empire. Sacramento ($540,983) finished with the highest median home price of all metro areas on the list, followed by Stockton ($496,403), and Riverside ($474,390)."

Top 10:

Metro Area Percent Change Median Price
(Dec. 1, 2020)
Median Price
(June 1, 2021)
1 Boise, Idaho 12.99 $410,100 $463,383
2 Provo-Orem, Utah 12.22 $406,509 $456,187
3 Ocala, Florida 12.1 $189,639 $212,592
4 Modesto, California 10.92 $387,432 $429,732
5 Cape Coral-Fort Myers, Florida 10.31 $287,073 $316,659
6 Atlantic City-Hammonton, New Jersey 9.51 $246,709 $270,166
7 Stockton, California 9.47 $453,471 $496,403
8 Phoenix-Mesa-Chandler, Arizona 9.43 $344,770 $377,267
9 Visalia, California 9.21 $281,766 $307,717
10 Deltona-Daytona Beach-Ormond Beach, Florida. 9.07 $259,963 $283,546

Data from HousingCanary was analyzed by the folks at Credible—the full list is available here at Credible.com.

About Author: Christina Hughes Babb

Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media/Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning news, among others. Contact Christina at christina.hughesbabb@thefivestar.com.

Check Also

Mortgage Industry Lends a Hand to the Community

From golf outings to blood and food drives, members of the mortgage industry banded together this holiday season to benefit several charitable initiatives.

Subscribe to MDaily

MReport is here for you to stay on top of important developments in the mortgage marketplace. To begin receiving each day’s top news, market information, and breaking news updates, absolutely free of cost, simply enter your email address below.