The Fastest-Growing Real Estate Markets in America
Which areas are truly flourishing?
Written by Carly Hallman
Where is real estate on the rise in the U.S.? We took a close look at the fastest-rising housing prices by city, examining the fastest-growing real estate markets in each major region of the United States, from Cupertino to Medina to Bal Harbor. The data is based on the median five-year increase in prices per square foot. So which packed-in cities and growing neighborhoods are truly as flourishing as they say, and which declining cities cost comparative pennies for their real estate?
Where Real Estate Prices Are Rising Fastest infographicWhere Real Estate Prices Are Rising the Fastest in the United States Transcript
Top 5 Cities by Region With the Fastest Rising Real Estate Prices
Based on Median 5 Year Increase per Square Foot
Northeast:
- Nantucket, MA – $319.1
- Boston, MA – $310.37 (Boston)
- Amagansett, NY – $289.64 (New York)
- Quogue, NY – $262 (New York)
- Cambridge, MA – $259.84 (Boston)
Southeast:
- Fisher Island, FL – $493.16 (Miami)
- Bal Harbor, FL – $315 (Miami)
- Folly Beach, SC – $235.38 (Charleston)
- Cedar Key, FL – $230.02
- Union Hall, VA – $227.13 (Roanoke)
Midwest:
- Mendota Heights, MN – $226.08 (Minneapolis)
- Medina, MN – $219.8 (Minneapolis)
- Crosslake, MN – $213.1 (Brainard)
- Bryon, MN – $204.99 (Rochester)
- Hopkins, MN – $201.8 (Minneapolis)
Southwest:
- Broken Bow, OK – $210
- Munds Park, AZ – $209.97 (Flagstaff)
- Port O’ Connor, TX – $205.96 (Port Lavaca)
- Hunt, TX – $191.18 (Kerrville)
- Sonoita, AZ – $190.57 (Nogales)
West (*Excluding CA):
- Aspen, CO – $292.5 (Glenwood Springs)
- Park City, UT – $266.1 (Summit Park)
- Mercer Island, WA – $244.64 (Seattle)
- Northglenn, CO – $228.16 (Denver)
- Black Diamond, WA – $226.43 (Seattle)
California:
*California was excluded from the Western states due to its significantly higher price per square foot increase
- Beverly Hills, CA – $764.43 (Los Angeles)
- Mountain View, CA – $452.67 (San Jose)
- San Carlos, CA – $419.87 (San Francisco)
- Cupertino, CA – $418.44 (San Jose)
- Sunnyvale, CA – $408.66 (San Jose)
Top 10 Cities With the Fastest Rising Real Estate Prices:
- Beverly Hills, CA – $764.43
- Fisher Island, FL – $493.16
- Mountain View, CA – $452.67
- San Carlos, CA – $419.87
- Cupertino, CA – $418.44
- Sunnyvale, CA – $408.66
- San Francisco, CA – $381.16
- San Mateo, CA – $370.61
- Santa Monica, CA – $364.48
- Manhattan Beach, CA – $363.11
Top 10 Cities With the Fastest Declining Real Estate Prices:
- Sunset, SC – -$64.31
- Sharon, CT – -$63.21
- Lake Toxaway, NC – -$56.32
- Atlantic City, NJ – -$54.27
- Guaynabo, AR – -$54.16
- Somers Point, NJ – -$43.99
- Ticonderoga, NY – -$39.64
- Hamburg, NJ – -$38.11
- Glenbrook, NV – -$34.36
- Winsted, CT – -$34.23
Top 10 Cities With the Most Expensive Real Estate (2018)
- Beverly Hills, CA – $1623.82
- Fisher Island, FL – $1387.32
- Aspen, CO – $1267.68
- Laguna Beach, CA – $1239.95
- Montecito, CA – $1171.91
- Malibu, CA – $1165.19
- Amagansett, NY – $1153.28
- Manhattan Beavh, CA – $1064.33
- Nantucket, MA – $1058.69
- Cupertino, CA – $1053.88
Top 10 Cities With the Least Expensive Real Estate (2018)
- Tamaqua, PA – $22.25
- Youngstown, OH – $27.79
- New Castle, PA – $27.88
- McKeesport, PA – $28.77
- Detroit, MI – $29.13
- Dunkirk, NY – $31.94
- Steelton, PA – $32.31
- Harvey, IL – $32.64
- Campbell, OH – $33.25
- Salamanca, NY – $33.26
What Are the Fastest-Growing Real Estate Markets in America?
- Beverly Hills, CA: Famous for being the home of the Hollywood elite, Beverly Hills has been the subject of songs and films for decades, so it’s perhaps surprising that it’s still the fastest-growing real estate market in the U.S.
- Fisher Island, FL: This exclusive club is a mysterious island near Miami Beach, where millionaires pay exorbitant sums just to be a member. It’s one of the more unusual cities on this list due to its small size and $250,000 entry fee.
- Mountain View, CA: This city nestled in the middle of Silicon Valley is, perhaps unsurprisingly, doing quite well as it gathers more and more technical and engineering wizards.
- San Carlos, CA: Just a tad farther up the bay toward infamously expensive San Francisco is another well-to-do city that’s booming.
- Cupertino, CA: Another city in the Bay Area (but farther down toward San Jose) is also famous for its tech. It also happens to be the home of Apple Inc.
What Are the Fastest-Declining Housing Markets?
- Winsted, CT: This is now considered a census-designated place, and is functionally a ghost town, with a population of fewer than 13,000 people.
- Glenbrook, NV: This small community on Lake Tahoe might not be America’s favorite place to live, but it’s a lovely spot to visit.
- Hamburg, NJ: This tiny borough in northern New Jersey now has a population of only slightly more than 3,000.
- Ticonderoga, NY: This tranquil, historic town in the foothills of the Adirondacks is another place that’s more popular to visit rather than live.
- Somers Point, NJ: One of the older settlements in New Jersey is only a few miles south of Atlantic City.
