Site icon AdvisorSmith

Cities Where Housing Prices Have Increased the Most

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%.

RankCityStateHome Price Increase (2019-2021)
1MesaAZ38.00%
2ClevelandOH37.90%
3PhoenixAZ37.60%
4AustinTX37.30%
5Colorado SpringsCO35.70%
6DetroitMI34.10%
7TucsonAZ31.60%
8MemphisTN29.30%
9SacramentoCA26.90%
10TampaFL26.70%
11MilwaukeeWI26.10%
12IndianapolisIN26.00%
13San DiegoCA25.80%
14ColumbusOH25.70%
15AlbuquerqueNM25.50%
16Kansas CityMO25.40%
17CharlotteNC25.40%
18OaklandCA24.00%
19FresnoCA24.00%
20Oklahoma CityOK23.80%
21Fort WorthTX22.90%
22BakersfieldCA22.60%
23JacksonvilleFL22.40%
24OmahaNE22.40%
25ArlingtonTX22.30%
26WichitaKS21.60%
27Long BeachCA21.30%
28PhiladelphiaPA21.10%
29Los AngelesCA20.70%
30AnaheimCA20.30%
31RaleighNC19.90%
32NashvilleTN19.60%
33TulsaOK18.90%
34El PasoTX18.20%
35New OrleansLA17.80%
36LouisvilleKY17.80%
37PortlandOR17.70%
38AuroraCO17.60%
39AtlantaGA17.10%
40San AntonioTX16.60%
41Virginia BeachVA16.60%
42DallasTX15.80%
43HoustonTX15.50%
44SeattleWA15.50%
45Las VegasNV15.20%
46DenverCO14.70%
47BaltimoreMD13.70%
48MinneapolisMN13.40%
49San JoseCA13.40%
50MiamiFL12.50%
51ChicagoIL10.60%
52WashingtonDC9.40%
53BostonMA8.20%
54San FranciscoCA3.30%
55New YorkNY2.60%

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%.

RankCityStateHome Price Increase (2019-2021)
1NampaID54.30%
2BoiseID52.80%
3MeridianID49.20%
4DaytonOH40.30%
5GlendaleAZ39.50%
6SpokaneWA37.70%
7Spokane ValleyWA36.90%
8Round RockTX36.60%
9WaterburyCT36.40%
10GilbertAZ35.90%
11ClarksvilleTN35.70%
12TempeAZ35.70%
13BirminghamAL35.60%
14SurpriseAZ34.90%
15ChandlerAZ34.60%
16PeoriaAZ34.40%
17ScottsdaleAZ34.00%
18Kansas CityKS33.30%
19TacomaWA32.80%
20HuntsvilleAL32.70%
21BendOR32.50%
22ToledoOH31.90%
23AugustaGA31.60%
24BridgeportCT31.50%
25West Valley CityUT30.80%
26ElizabethNJ30.40%
27Chula VistaCA30.30%
28WorcesterMA30.10%
29West JordanUT29.70%
30BuffaloNY29.60%
31KilleenTX29.60%
32PuebloCO29.00%
33ClearwaterFL28.80%
34EverettWA28.60%
35SyracuseNY28.40%
36San BernardinoCA28.00%
37AkronOH28.00%
38StocktonCA28.00%
39LancasterCA27.90%
40SpringfieldMA27.90%
41KentWA27.80%
42Salt Lake CityUT27.60%
43ProvoUT27.60%
44Winston-SalemNC27.50%
45InglewoodCA27.30%
46ManchesterNH27.20%
47PalmdaleCA27.00%
48El CajonCA27.00%
49EscondidoCA26.90%
50KnoxvilleTN26.90%

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%.

RankCityStateHome Price Increase (2019-2021)
1Highland ParkMI65.60%
2CaldwellID54.90%
3KunaID53.70%
4EagleID51.30%
5Garden CityID50.90%
6StarID50.80%
7Rock HillSC50.10%
8CamdenNJ49.50%
9AberdeenWA47.90%
10FlintMI47.80%
11HarveyIL47.40%
12YoungstownOH44.70%
13Gloucester CityNJ44.00%
14El MirageAZ43.20%
15Twentynine PalmsCA42.40%
16TrotwoodOH39.70%
17TrentonNJ39.70%
18CoolidgeAZ39.60%
19Coeur d'AleneID39.50%
20HaydenID39.50%
21Maple HeightsOH39.50%
22FairfieldAL39.50%
23East OrangeNJ39.20%
24AvondaleAZ39.00%
25Cedar ParkTX38.90%
26Post FallsID38.70%
27RiverdaleIL38.20%
28LakewayTX38.20%
29SheltonWA38.10%
30Forest ParkGA38.10%
31Atlantic CityNJ38.00%
32PflugervilleTX37.90%
33HamtramckMI37.80%
34Central FallsRI37.10%
35OgdenUT37.10%
36FountainCO36.70%
37WhitehallOH36.70%
38WaynesvilleNC36.70%
39Sauk VillageIL36.60%
40EloyAZ36.50%
41PleasantvilleNJ36.40%
42BuckeyeAZ36.30%
43Twin FallsID36.00%
44BooneNC36.00%
45Apache JunctionAZ35.80%
46Idaho FallsID35.80%
47ConwayNH35.70%
48MuskegonMI35.50%
49AndersonIN35.40%
50StruthersOH35.40%

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. 

RankCityStateHome Price Increase (2019-2021)
1New YorkNY2.60%
2San FranciscoCA3.30%
3BostonMA8.20%
4WashingtonDC9.40%
5ChicagoIL10.60%
6MiamiFL12.50%
7San JoseCA13.40%
8MinneapolisMN13.40%
9BaltimoreMD13.70%
10DenverCO14.70%
11Las VegasNV15.20%
12SeattleWA15.50%
13HoustonTX15.50%
14DallasTX15.80%
15Virginia BeachVA16.60%
16San AntonioTX16.60%
17AtlantaGA17.10%
18AuroraCO17.60%
19PortlandOR17.70%
20LouisvilleKY17.80%
21New OrleansLA17.80%
22El PasoTX18.20%
23TulsaOK18.90%
24NashvilleTN19.60%
25RaleighNC19.90%
26AnaheimCA20.30%
27Los AngelesCA20.70%
28PhiladelphiaPA21.10%
29Long BeachCA21.30%
30WichitaKS21.60%
31ArlingtonTX22.30%
32OmahaNE22.40%
33JacksonvilleFL22.40%
34BakersfieldCA22.60%
35Fort WorthTX22.90%
36Oklahoma CityOK23.80%
37FresnoCA24.00%
38OaklandCA24.00%
39CharlotteNC25.40%
40Kansas CityMO25.40%
41AlbuquerqueNM25.50%
42ColumbusOH25.70%
43San DiegoCA25.80%
44IndianapolisIN26.00%
45MilwaukeeWI26.10%
46TampaFL26.70%
47SacramentoCA26.90%
48MemphisTN29.30%
49TucsonAZ31.60%
50DetroitMI34.10%
51Colorado SpringsCO35.70%
52AustinTX37.30%
53PhoenixAZ37.60%
54ClevelandOH37.90%
55MesaAZ38.00%

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.

RankCityStateHome Price Increase (2019-2021)
1MidlandTX-3.00%
2College StationTX0.20%
3ShreveportLA3.80%
4HonoluluHI4.00%
5OdessaTX4.70%
6LaredoTX4.80%
7San MateoCA5.60%
8Baton RougeLA5.60%
9Ann ArborMI6.40%
10SpringfieldIL6.60%
11AnchorageAK6.80%
12LafayetteLA7.90%
13Little RockAR8.40%
14PearlandTX8.40%
15SunnyvaleCA8.40%
16Jersey CityNJ8.60%
17Las CrucesNM8.70%
18NapervilleIL9.30%
19Santa ClaraCA9.40%
20TuscaloosaAL9.60%
21BeaumontTX10.10%
22PeoriaIL10.20%
23IrvineCA10.50%
24ArlingtonVA10.60%
25FargoND10.70%
26JacksonMS10.70%
27YonkersNY10.90%
28ElginIL11.20%
29DavenportIA11.40%
30StamfordCT11.50%
31TylerTX11.70%
32HialeahFL11.70%
33LubbockTX11.80%
34ChicoCA11.80%
35FremontCA11.80%
36Cedar RapidsIA12.00%
37CambridgeMA12.00%
38AuroraIL12.00%
39Sandy SpringsGA12.40%
40Sugar LandTX12.50%
41Daly CityCA12.60%
42Santa RosaCA12.60%
43BillingsMT12.60%
44AntiochCA12.80%
45Fort CollinsCO12.80%
46CharlestonSC13.10%
47BoulderCO13.10%
48DavieFL13.20%
49NormanOK13.60%
50League CityTX13.70%

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%. 

RankCityStateHome Price Increase (2019-2021)
1LongviewTX-9.20%
2ElkoNV-8.40%
3ClintonIA-7.50%
4KilgoreTX-6.60%
5BlythevilleAR-4.70%
6East Palo AltoCA-4.50%
7New PhiladelphiaOH-4.10%
8Yazoo CityMS-4.10%
9MinotND-4.00%
10SulphurLA-3.60%
11Bossier CityLA-2.30%
12PinevilleLA-2.10%
13LiberalKS-2.10%
14WasillaAK-1.90%
15JamestownND-1.40%
16Sioux CityIA-1.40%
17Grand ForksND-1.00%
18DoverOH-0.80%
19MeridianMS-0.70%
20CarbondaleIL-0.50%
21Key BiscayneFL-0.40%
22NorthbrookIL-0.20%
23WilmetteIL-0.20%
24HinsdaleIL-0.10%
25Great NeckNY0.00%
26AlexandriaLA0.10%
27Sunny Isles BeachFL0.10%
28GilletteWY0.20%
29North LibertyIA0.20%
30GuttenbergNJ0.20%
31Richmond HillGA0.50%
32HobokenNJ0.50%
33MandanND0.70%
34Bay CityTX0.80%
35GatesvilleTX0.80%
36DickinsonND0.80%
37Forrest CityAR0.90%
38BellaireTX1.10%
39Lake CharlesLA1.20%
40CoralvilleIA1.30%
41CharlestonIL1.30%
42MattoonIL1.60%
43WinnetkaIL1.70%
44Oak ParkIL1.90%
45KewaneeIL2.00%
46WillistonND2.10%
47MarshallTX2.10%
48GlenviewIL2.20%
49AventuraFL2.40%
50Western SpringsIL2.40%

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
Exit mobile version