The 2015 Coldwell Banker Real Estate Home Listing Report (HLR) is in, and once again, the West Coast is topping the charts as the most expensive place to live in the United States. This year’s report found that half of the top 100 most expensive markets in the U.S. are in California with Newport Beach taking the #1 spot, while Cleveland earned the most affordable title.
The annual HLR analyzes the cost of four-bedroom, two-bathroom homes in more than 2,700 real estate markets across the United States, providing an apples-to-apples comparison of prices across the country.
Newport Beach has been battling it out with Los Altos for the top spot in the HLR for the last few years. This year, its average listing price of a four-bedroom, two-bathroom home is a whopping $2,291,764.
In contrast, Cleveland has continued to hold on to its coveted spot as the most affordable market. This year, its average four-bedroom, two-bathroom home listed at $74,502 – a listing price difference of $2.2 million when compared to Newport Beach.
Check out the five most expensive and affordable markets in the U.S. below, and visit the full Home Listing Report page to see how your town ranks compared to the most expensive and affordable markets in the country.
Five Most Expensive Markets to Buy a Home
- Newport Beach, Calif. – average listing price: $2,291,764
- Palo Alto, Calif. – average listing price: $2,066,600
- Saratoga, Calif. – average listing price: $1,979,218
- Cupertino, Calif. – average listing price: $1,659,297
- Los Gatos, Calif. – average listing price: $1,569,615
Five Most Affordable Markets to Buy a Home
- Cleveland, Ohio – average listing price: $74,502
- Riverdale, Ga. – average listing price: $79,223
- Wilkes-Barre, Pa. – average listing price: $79,480
- Detroit, Mich. – average listing price: $81,616
- Alma, Mich. – average listing price: $90,523
