What’s the Most Expensive City for Home Buyers?

December 16, 2011

Nationwide, the median home price for the third quarter of 2011 was $176,000, according to Paycheck to Paycheck, an online interactive database compiled by the Center for Housing Policy. But in San Francisco, which claimed the top spot for most expensive city for home buyers, the median price was $585,000. The Center for Housing Policy tracks wage information for 74 occupations and compares it to the cost of housing — for owning and renting — in more than 200 metro areas. 

Here are the top 10 most expensive cities, according to the report: 

1. San Francisco

Third quarter 2011 median home price: $585,000

Fourth quarter 2009 median home price: $625,000

2. New York

Third quarter 2011 price: $450,000

Fourth quarter 2009 price: $425,000

3. San Jose, Calif.

Third quarter 2011 price: $443,000

Fourth quarter 2009 price: $465,000

4. Honolulu

Third quarter 2011 price: $425,000

Fourth quarter 2009 price: $450,000

5. Santa Ana, Calif.

Third quarter 2011 price: $405,000

Fourth quarter 2009 price: $435,000

6. Santa Cruz, Calif.

Third quarter 2011 price: $395,000

Fourth quarter 2009 price: $431,000

7. Bridgeport, Conn.

Third quarter 2011 price: $390,000

Fourth quarter 2009 price: $348,000

8. Suffolk-Nassau, N.Y.

Third quarter 2011 price: $378,000

Fourth quarter 2009 price: $380,000

9. Cambridge, Mass.

Third quarter 2011 price: $370,000

Fourth quarter 2009 price: $326,000

10. Ocean City, N.J.

Third quarter 2011 price: $353,000

Fourth quarter 2009 price: $330,000

Source: “Paycheck to Paycheck,” Center for Housing Policy (December 2011)