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Map: Where Real Estate Prices are Rising Fastest

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This Map Shows Where Real Estate Prices are Rising the Fastest

Mapped: Where Real Estate Prices are Rising the Fastest

The real estate market is a location game.

While forces like interest rates, demographics, and the economy help drive the housing market as a whole, the strength of your local market depends on other factors closer to home.

When you zoom out to look at U.S. real estate from a bird’s eye view, you’ll see this regional variance in full effect. Some markets are booming while others are tanking, and the contrast between the winners and losers is a stark one.

Real Estate Booms

Today’s infographic comes from TitleMax, and it shows where real estate prices are appreciating and depreciating the fastest.

We’ll start on the high end: here are the 10 cities that have seen the highest absolute growth in terms of price per square foot over the last five years.

RankCityStatePrice change (per sq. ft)
#1Beverly HillsCA+$764.43
#2Fisher IslandFL+$493.16
#3Mountain ViewCA+$452.67
#4San CarlosCA+$419.87
#5CupertinoCA+$418.44
#6SunnyvaleCA+$408.66
#7San FranciscoCA+$381.16
#8San MateoCA+$370.61
#9Santa MonicaCA+$364.48
#10Manhattan BeachCA+$363.11

Median home price change over 5-years, measured in price per sq. ft (Source: Zillow)

The only non-California locale to make it onto the list is Fisher Island in Miami, Florida, which is home to just 467 residents including Andre Agassi, Oprah Winfrey, and Robert Herjavec.

While these are absolute increases, it’s worth noting that they are still very significant in relative terms. For example, although it’s true that Beverley Hills is the most expensive housing market in the U.S., prices have risen 47% over the last five years.

Real Estate Busts

Things may be rosy in the Golden State, but there are also places spread throughout the country where prices are dropping fast.

Many of these are smaller, lesser-known locales – and while they are located all over the map, eight of them are in states along the Eastern Seaboard.

RankCityStatePrice change (per sq. ft)
#1SunsetSC-$64.31
#2SharonCT-$63.21
#3Lake ToxawayNC-$56.32
#4Atlantic CityNJ-$54.16
#5Somers PointNJ-$43.99
#6TiconderogaNY-$39.64
#7HamburgNJ-$38.11
#8GlenbrookNV-$34.36
#9WinstedCT-$34.23
#10MercerWI-$31.69

Median home price change over 5-years, measured in price per sq. ft (Source: Zillow)

A Stark Contrast

If you sold a 1,000 sq. ft condo in Beverley Hills – the country’s most expensive real estate market – it would likely net you about $1.6 million.

What could you buy for that in Tamaqua, PA, the country’s cheapest?

In theory, you could pick up roughly 71,000 sq. ft of real estate – that’s about 10 mansions worth, or just short of the size of an average Walmart.

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Mapped: The World’s Least Affordable Housing Markets in 2024

See which housing markets are considered ‘impossibly unaffordable’ according to their median price-to-income ratio.

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The World’s Least Affordable Housing Markets in 2024

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

Many cities around the world have become very expensive to buy a home in, but which ones are the absolute most unattainable?

In this graphic, we highlight a number of housing markets that are deemed to be “impossibly unaffordable” in 2024, ranked by their median price-to-income ratio.

This data comes from the Demographia International Housing Affordability Report, which is produced by the Chapman University Center for Demographics and Policy.

Data and Key Takeaway

The median price-to-income ratio compares median house price to median household income within each market. A higher ratio (higher prices relative to incomes) means a city is less affordable.

See the following table for all of the data we used to create this graphic. Note that this analysis covers 94 markets across eight countries: Australia, Canada, China, Ireland, New Zealand, Singapore, the United Kingdom, and the United States.

RankMetropolitan MarketCountryMedian price-to-income
ratio
1Hong Kong (SAR)๐Ÿ‡จ๐Ÿ‡ณ China16.7
2Sydney๐Ÿ‡ฆ๐Ÿ‡บ Australia13.8
3Vancouver๐Ÿ‡จ๐Ÿ‡ฆ Canada12.3
4San Jose๐Ÿ‡บ๐Ÿ‡ธ U.S.11.9
5Los Angeles๐Ÿ‡บ๐Ÿ‡ธ U.S.10.9
6Honolulu๐Ÿ‡บ๐Ÿ‡ธ U.S.10.5
7Melbourne๐Ÿ‡ฆ๐Ÿ‡บ Australia9.8
8San Francisco๐Ÿ‡บ๐Ÿ‡ธ U.S.9.7
9Adelaide๐Ÿ‡ฆ๐Ÿ‡บ Australia9.7
10San Diego๐Ÿ‡บ๐Ÿ‡ธ U.S.9.5
11Toronto๐Ÿ‡จ๐Ÿ‡ฆ Canada9.3
12Auckland๐Ÿ‡ณ๐Ÿ‡ฟ New Zealand8.2

According to the Demographia report, cities with a median price-to-income ratio of over 9.0 are considered โ€œimpossibly unaffordableโ€.

We can see that the top city in this ranking, Hong Kong, has a ratio of 16.7. This means that the median price of a home is 16.7 times greater than the median income.

Which Cities are More Affordable?

On the flipside, here are the top 12 most affordable cities that were analyzed in the Demographia report.

RankMetropolitan MarketCountryMedian price-to-income
ratio
1Pittsburgh๐Ÿ‡บ๐Ÿ‡ธ U.S.3.1
2Rochester๐Ÿ‡บ๐Ÿ‡ธ U.S.3.4
2St. Louis๐Ÿ‡บ๐Ÿ‡ธ U.S.3.4
4Cleveland๐Ÿ‡บ๐Ÿ‡ธ U.S.3.5
5Edmonton๐Ÿ‡จ๐Ÿ‡ฆ Canada3.6
5Buffalo๐Ÿ‡บ๐Ÿ‡ธ U.S.3.6
5Detroit๐Ÿ‡บ๐Ÿ‡ธ U.S.3.6
5Oklahoma City๐Ÿ‡บ๐Ÿ‡ธ U.S.3.6
9Cincinnati๐Ÿ‡บ๐Ÿ‡ธ U.S.3.7
9Louisville๐Ÿ‡บ๐Ÿ‡ธ U.S.3.7
11Singapore๐Ÿ‡ธ๐Ÿ‡ฌ Singapore3.8
12Blackpool & Lancashire๐Ÿ‡ฌ๐Ÿ‡ง U.K.3.9

Cities with a median price-to-income ratio of less than 3.0 are considered “affordable”, while those between 3.1 and 4.0 are considered “moderately unaffordable”.

See More Real Estate Content From Visual Capitalist

If you enjoyed this post, be sure to check out Ranked: The Most Valuable Housing Markets in America.

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