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.