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Homeownership is a common way to build wealth. According to the U.S. Census Bureau, homeowners’ median net worth is 80 times larger than renters’ median net worth. But with soaring house prices nationwide, many potential homebuyers find themselves priced out of the housing market. Meeting the 20 percent down payment requirement for a mortgage loan is often considered the biggest barrier to home ownership.
The median home value for single-family homes, townhomes and condominiums hovered around $262,604 in 2020, according to real estate marketplace Zillow. Home values have increased 6.6% over the past year, and Zillow predicts they will rise 7.9% in 2021.
As part of our ongoing look at the housing market in the U.S., Slickdeals has analyzed housing data from real estate research firm Construction Coverage to find out the median home values in the largest city in every state.
Median Home Values in the Largest U.S. Cities
Median Home Value
Little Rock, AR
Los Angeles, CA
Des Moines, IA
New Orleans, LA
Kansas City, MO
Las Vegas, NV
New York, NY
Oklahoma City, OK
Sioux Falls, SD
Salt Lake City, UT
Virginia Beach, VA
While we work hard on our research, we do not always provide a complete listing of all available offers from credit-card companies and banks. And because offers can change, we cannot guarantee that our information will always be up to date, so we encourage you to verify all the terms and conditions of any financial product before you apply.