Cities Where Housing Prices Have Increased the Most

Over the past two years, there have been significant changes in housing markets around the country as the coronavirus pandemic has caused major changes to the way Americans live and work. In some areas, housing prices have increased substantially, while in others, housing prices have flatlined or even decreased. In this analysis, AdvisorSmith examines the cities around the nation where housing prices have increased and decreased the most.

AdvisorSmith studied housing price data over a two-year period to understand the most significant changes in housing prices nationally. This study considered the impact of home price changes among 2- and 3-bedroom homes, which are the two most common housing unit sizes in the United States. Over the study period, home price growth was very strong nationwide, with prices growing on average 18.7% nationwide.

Cities Where Housing Prices Have Increased the Most: Large Cities

Among large cities (350,000 residents or more), the largest increases in housing prices came from smaller Sun Belt cities in Arizona, California, and Florida, along with midwestern cities that started with very low home prices such as Cleveland and Detroit. The top 10 cities had housing price increases between 26% and 38%.

Rank	City	State	Home Price Increase (2019-2021)
1	Mesa	AZ	38.00%
2	Cleveland	OH	37.90%
3	Phoenix	AZ	37.60%
4	Austin	TX	37.30%
5	Colorado Springs	CO	35.70%
6	Detroit	MI	34.10%
7	Tucson	AZ	31.60%
8	Memphis	TN	29.30%
9	Sacramento	CA	26.90%
10	Tampa	FL	26.70%
11	Milwaukee	WI	26.10%
12	Indianapolis	IN	26.00%
13	San Diego	CA	25.80%
14	Columbus	OH	25.70%
15	Albuquerque	NM	25.50%
16	Kansas City	MO	25.40%
17	Charlotte	NC	25.40%
18	Oakland	CA	24.00%
19	Fresno	CA	24.00%
20	Oklahoma City	OK	23.80%
21	Fort Worth	TX	22.90%
22	Bakersfield	CA	22.60%
23	Jacksonville	FL	22.40%
24	Omaha	NE	22.40%
25	Arlington	TX	22.30%
26	Wichita	KS	21.60%
27	Long Beach	CA	21.30%
28	Philadelphia	PA	21.10%
29	Los Angeles	CA	20.70%
30	Anaheim	CA	20.30%
31	Raleigh	NC	19.90%
32	Nashville	TN	19.60%
33	Tulsa	OK	18.90%
34	El Paso	TX	18.20%
35	New Orleans	LA	17.80%
36	Louisville	KY	17.80%
37	Portland	OR	17.70%
38	Aurora	CO	17.60%
39	Atlanta	GA	17.10%
40	San Antonio	TX	16.60%
41	Virginia Beach	VA	16.60%
42	Dallas	TX	15.80%
43	Houston	TX	15.50%
44	Seattle	WA	15.50%
45	Las Vegas	NV	15.20%
46	Denver	CO	14.70%
47	Baltimore	MD	13.70%
48	Minneapolis	MN	13.40%
49	San Jose	CA	13.40%
50	Miami	FL	12.50%
51	Chicago	IL	10.60%
52	Washington	DC	9.40%
53	Boston	MA	8.20%
54	San Francisco	CA	3.30%
55	New York	NY	2.60%

Cities Where Housing Prices Have Increased the Most: Midsize Cities

Midsize cities (100,000 to 350,000 residents) in the Boise, Idaho, and Spokane, Washington, areas topped the list of cities where home prices rose the most, along with suburbs of the Phoenix and Austin areas. Among the top 10 cities, home prices rose between 36% and 54%.

Rank	City	State	Home Price Increase (2019-2021)
1	Nampa	ID	54.30%
2	Boise	ID	52.80%
3	Meridian	ID	49.20%
4	Dayton	OH	40.30%
5	Glendale	AZ	39.50%
6	Spokane	WA	37.70%
7	Spokane Valley	WA	36.90%
8	Round Rock	TX	36.60%
9	Waterbury	CT	36.40%
10	Gilbert	AZ	35.90%
11	Clarksville	TN	35.70%
12	Tempe	AZ	35.70%
13	Birmingham	AL	35.60%
14	Surprise	AZ	34.90%
15	Chandler	AZ	34.60%
16	Peoria	AZ	34.40%
17	Scottsdale	AZ	34.00%
18	Kansas City	KS	33.30%
19	Tacoma	WA	32.80%
20	Huntsville	AL	32.70%
21	Bend	OR	32.50%
22	Toledo	OH	31.90%
23	Augusta	GA	31.60%
24	Bridgeport	CT	31.50%
25	West Valley City	UT	30.80%
26	Elizabeth	NJ	30.40%
27	Chula Vista	CA	30.30%
28	Worcester	MA	30.10%
29	West Jordan	UT	29.70%
30	Buffalo	NY	29.60%
31	Killeen	TX	29.60%
32	Pueblo	CO	29.00%
33	Clearwater	FL	28.80%
34	Everett	WA	28.60%
35	Syracuse	NY	28.40%
36	San Bernardino	CA	28.00%
37	Akron	OH	28.00%
38	Stockton	CA	28.00%
39	Lancaster	CA	27.90%
40	Springfield	MA	27.90%
41	Kent	WA	27.80%
42	Salt Lake City	UT	27.60%
43	Provo	UT	27.60%
44	Winston-Salem	NC	27.50%
45	Inglewood	CA	27.30%
46	Manchester	NH	27.20%
47	Palmdale	CA	27.00%
48	El Cajon	CA	27.00%
49	Escondido	CA	26.90%
50	Knoxville	TN	26.90%

Cities Where Housing Prices Have Increased the Most: Small Cities

Similar trends were seen among small cities (less than 100,000 residents), with smaller cities in the same metro areas also experiencing the largest increases in home prices. Among the top 10 cities, home prices rose between 48% and 66%.

Rank	City	State	Home Price Increase (2019-2021)
1	Highland Park	MI	65.60%
2	Caldwell	ID	54.90%
3	Kuna	ID	53.70%
4	Eagle	ID	51.30%
5	Garden City	ID	50.90%
6	Star	ID	50.80%
7	Rock Hill	SC	50.10%
8	Camden	NJ	49.50%
9	Aberdeen	WA	47.90%
10	Flint	MI	47.80%
11	Harvey	IL	47.40%
12	Youngstown	OH	44.70%
13	Gloucester City	NJ	44.00%
14	El Mirage	AZ	43.20%
15	Twentynine Palms	CA	42.40%
16	Trotwood	OH	39.70%
17	Trenton	NJ	39.70%
18	Coolidge	AZ	39.60%
19	Coeur d'Alene	ID	39.50%
20	Hayden	ID	39.50%
21	Maple Heights	OH	39.50%
22	Fairfield	AL	39.50%
23	East Orange	NJ	39.20%
24	Avondale	AZ	39.00%
25	Cedar Park	TX	38.90%
26	Post Falls	ID	38.70%
27	Riverdale	IL	38.20%
28	Lakeway	TX	38.20%
29	Shelton	WA	38.10%
30	Forest Park	GA	38.10%
31	Atlantic City	NJ	38.00%
32	Pflugerville	TX	37.90%
33	Hamtramck	MI	37.80%
34	Central Falls	RI	37.10%
35	Ogden	UT	37.10%
36	Fountain	CO	36.70%
37	Whitehall	OH	36.70%
38	Waynesville	NC	36.70%
39	Sauk Village	IL	36.60%
40	Eloy	AZ	36.50%
41	Pleasantville	NJ	36.40%
42	Buckeye	AZ	36.30%
43	Twin Falls	ID	36.00%
44	Boone	NC	36.00%
45	Apache Junction	AZ	35.80%
46	Idaho Falls	ID	35.80%
47	Conway	NH	35.70%
48	Muskegon	MI	35.50%
49	Anderson	IN	35.40%
50	Struthers	OH	35.40%

Cities Where Housing Prices Have Increased the Least: Large Cities

The nation’s most urban cities had the smallest increases in housing prices. These cities included New York City, San Francisco, Boston, Washington, D.C., and Chicago. Many residents moved away from these cities during the pandemic, as many of their residents were able to work remotely and sought out additional space further from city centers. 

Rank	City	State	Home Price Increase (2019-2021)
1	New York	NY	2.60%
2	San Francisco	CA	3.30%
3	Boston	MA	8.20%
4	Washington	DC	9.40%
5	Chicago	IL	10.60%
6	Miami	FL	12.50%
7	San Jose	CA	13.40%
8	Minneapolis	MN	13.40%
9	Baltimore	MD	13.70%
10	Denver	CO	14.70%
11	Las Vegas	NV	15.20%
12	Seattle	WA	15.50%
13	Houston	TX	15.50%
14	Dallas	TX	15.80%
15	Virginia Beach	VA	16.60%
16	San Antonio	TX	16.60%
17	Atlanta	GA	17.10%
18	Aurora	CO	17.60%
19	Portland	OR	17.70%
20	Louisville	KY	17.80%
21	New Orleans	LA	17.80%
22	El Paso	TX	18.20%
23	Tulsa	OK	18.90%
24	Nashville	TN	19.60%
25	Raleigh	NC	19.90%
26	Anaheim	CA	20.30%
27	Los Angeles	CA	20.70%
28	Philadelphia	PA	21.10%
29	Long Beach	CA	21.30%
30	Wichita	KS	21.60%
31	Arlington	TX	22.30%
32	Omaha	NE	22.40%
33	Jacksonville	FL	22.40%
34	Bakersfield	CA	22.60%
35	Fort Worth	TX	22.90%
36	Oklahoma City	OK	23.80%
37	Fresno	CA	24.00%
38	Oakland	CA	24.00%
39	Charlotte	NC	25.40%
40	Kansas City	MO	25.40%
41	Albuquerque	NM	25.50%
42	Columbus	OH	25.70%
43	San Diego	CA	25.80%
44	Indianapolis	IN	26.00%
45	Milwaukee	WI	26.10%
46	Tampa	FL	26.70%
47	Sacramento	CA	26.90%
48	Memphis	TN	29.30%
49	Tucson	AZ	31.60%
50	Detroit	MI	34.10%
51	Colorado Springs	CO	35.70%
52	Austin	TX	37.30%
53	Phoenix	AZ	37.60%
54	Cleveland	OH	37.90%
55	Mesa	AZ	38.00%

Cities Where Housing Prices Have Increased the Least: Midsize Cities

A variety of midsize cities were among those with the smallest increases in housing prices. Some cities, such as Midland and Odessa, Texas, were affected by the drop in oil prices. Other cities such as College Station, Texas, and Ann Arbor, Michigan, are college towns. Honolulu was affected by the drop in tourism revenues and the impact of the pandemic on the Hawaiian economy.

Rank	City	State	Home Price Increase (2019-2021)
1	Midland	TX	-3.00%
2	College Station	TX	0.20%
3	Shreveport	LA	3.80%
4	Honolulu	HI	4.00%
5	Odessa	TX	4.70%
6	Laredo	TX	4.80%
7	San Mateo	CA	5.60%
8	Baton Rouge	LA	5.60%
9	Ann Arbor	MI	6.40%
10	Springfield	IL	6.60%
11	Anchorage	AK	6.80%
12	Lafayette	LA	7.90%
13	Little Rock	AR	8.40%
14	Pearland	TX	8.40%
15	Sunnyvale	CA	8.40%
16	Jersey City	NJ	8.60%
17	Las Cruces	NM	8.70%
18	Naperville	IL	9.30%
19	Santa Clara	CA	9.40%
20	Tuscaloosa	AL	9.60%
21	Beaumont	TX	10.10%
22	Peoria	IL	10.20%
23	Irvine	CA	10.50%
24	Arlington	VA	10.60%
25	Fargo	ND	10.70%
26	Jackson	MS	10.70%
27	Yonkers	NY	10.90%
28	Elgin	IL	11.20%
29	Davenport	IA	11.40%
30	Stamford	CT	11.50%
31	Tyler	TX	11.70%
32	Hialeah	FL	11.70%
33	Lubbock	TX	11.80%
34	Chico	CA	11.80%
35	Fremont	CA	11.80%
36	Cedar Rapids	IA	12.00%
37	Cambridge	MA	12.00%
38	Aurora	IL	12.00%
39	Sandy Springs	GA	12.40%
40	Sugar Land	TX	12.50%
41	Daly City	CA	12.60%
42	Santa Rosa	CA	12.60%
43	Billings	MT	12.60%
44	Antioch	CA	12.80%
45	Fort Collins	CO	12.80%
46	Charleston	SC	13.10%
47	Boulder	CO	13.10%
48	Davie	FL	13.20%
49	Norman	OK	13.60%
50	League City	TX	13.70%

Cities Where Housing Prices Have Increased the Least: Small Cities

Among small cities, the top 25 saw decreases in typical home prices, ranging from 0% to decreases of 9%. 

Rank	City	State	Home Price Increase (2019-2021)
1	Longview	TX	-9.20%
2	Elko	NV	-8.40%
3	Clinton	IA	-7.50%
4	Kilgore	TX	-6.60%
5	Blytheville	AR	-4.70%
6	East Palo Alto	CA	-4.50%
7	New Philadelphia	OH	-4.10%
8	Yazoo City	MS	-4.10%
9	Minot	ND	-4.00%
10	Sulphur	LA	-3.60%
11	Bossier City	LA	-2.30%
12	Pineville	LA	-2.10%
13	Liberal	KS	-2.10%
14	Wasilla	AK	-1.90%
15	Jamestown	ND	-1.40%
16	Sioux City	IA	-1.40%
17	Grand Forks	ND	-1.00%
18	Dover	OH	-0.80%
19	Meridian	MS	-0.70%
20	Carbondale	IL	-0.50%
21	Key Biscayne	FL	-0.40%
22	Northbrook	IL	-0.20%
23	Wilmette	IL	-0.20%
24	Hinsdale	IL	-0.10%
25	Great Neck	NY	0.00%
26	Alexandria	LA	0.10%
27	Sunny Isles Beach	FL	0.10%
28	Gillette	WY	0.20%
29	North Liberty	IA	0.20%
30	Guttenberg	NJ	0.20%
31	Richmond Hill	GA	0.50%
32	Hoboken	NJ	0.50%
33	Mandan	ND	0.70%
34	Bay City	TX	0.80%
35	Gatesville	TX	0.80%
36	Dickinson	ND	0.80%
37	Forrest City	AR	0.90%
38	Bellaire	TX	1.10%
39	Lake Charles	LA	1.20%
40	Coralville	IA	1.30%
41	Charleston	IL	1.30%
42	Mattoon	IL	1.60%
43	Winnetka	IL	1.70%
44	Oak Park	IL	1.90%
45	Kewanee	IL	2.00%
46	Williston	ND	2.10%
47	Marshall	TX	2.10%
48	Glenview	IL	2.20%
49	Aventura	FL	2.40%
50	Western Springs	IL	2.40%

Methodology

AdvisorSmith studied the cities in which home prices increased the most and least over the two-year period between May 2019 and May 2021. We determined the increase in housing prices by using home price data as measured by the Zillow Home Value Index, which measures the value of a typical home in cities around the nation. We examined typical home values at the city level, which reflects the legal boundaries of cities, not metropolitan areas.

To determine the cities in which home prices increased the most and least, we compared the home prices for 2-bedroom and 3-bedroom homes in each of the cities and measured the percentage change in home prices over the 2-year study period. We took a weighted average of the change in home prices for 2-bedroom and 3-bedroom housing units. We weighted the change in home prices of 3-bedroom homes more heavily since it is the most common housing configuration in the United States.

We then subdivided the cities into one of three groups based upon the population of each city. Large cities were those with at least 350,000 residents. Midsize cities were cities with between 100,000 and 350,000 residents. Small cities were those with between 10,000 and 100,000 residents. Within each of the population bands, we ranked the cities by the increase (or decrease) in housing prices over the two-year study period to find the cities where housing prices have increased the most.

Sources

1. Zillow Home Value Index (Data Provided by Zillow Group)
2. U.S. Census Bureau, American Community Survey