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17 Cities Where Home Prices Have Barely Budged Over the Past Year

May 22, 2023

3 min Read

Written by Gabrielle Olya

Edited by Somnia Keesey

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On average, home prices in the U.S. have increased by 8.7% over the past year, but in several major cities, home prices have stayed largely the same — or even decreased — from 2022 until now.

In these 17 cities identified by Home Bay — four of which are in California — home prices have barely budged over the past year, with changes of less than 5%. See where home values have been holding steady.

17. New York

Typical home value in 2022: $544,987
Typical home value in 2023: $571,129
% increase: 4.8%

16. Chicago

Typical home value in 2022: $274,435
Typical home value in 2023: $286,791
% increase: 4.5%

15. Las Vegas

Typical home value in 2022: $379,401
Typical home value in 2023: $396,341
% increase: 4.5%

14. Baltimore

Typical home value in 2022: $334,715
Typical home value in 2023: $349,200
% increase: 4.3%

13. Los Angeles

Typical home value in 2023: $824,093
Typical home value in 2022: $855,850
% increase: 3.9%

12. Austin, Texas

Typical home value in 2022: $464,601
Typical home value in 2023: $481,738
% increase: 3.7%

11. Phoenix

Typical home value in 2022: $418,967
Typical home value in 2023: $433,926
% increase: 3.6%

10. Washington, D.C.

Typical home value in 2022: $504,539
Typical home value in 2023: $521,307
% increase: 3.3%

9. Minneapolis

Typical home value in 2022: $337,843
Typical home value in 2023: $348,727
% increase: 3.2%

8. San Jose, California

Typical home value in 2022: $1,343,798
Typical home value in 2023: $1,385,816
% increase: 3.1%

7. Seattle

Typical home value in 2022: $670,668
Typical home value in 2023: $689,866
% increase: 2.9%

6. Denver

Typical home value in 2022: $556,083
Typical home value in 2023: $570,262
% increase: 2.6%

5. Salt Lake City

Typical home value in 2022: $510,876
Typical home value in 2023: $523,590
% increase: 2.5%

4. Portland, Oregon

Typical home value in 2022: $513,434
Typical home value in 2023: $524,593
% increase: 2.0%

Here:

3. Sacramento, California

Typical home value in 2022: $539,913
Typical home value in 2023: $543,529
% increase: 0.7%

2. New Orleans

Typical home value in 2022: $238,291
Typical home value in 2023: $237,942
% increase: -0.2%

1. San Francisco

Typical home value in 2023: $1,113,873
Typical home value in 2022: $1,096,477
% increase: -2%

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All data is sourced from Home Bay and is accurate as of March 27, 2023.

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