15 Cities Where Home Values Have Increased the Most — 4 Are in California

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A challenge that arises when determining the performance of the U.S. housing market as a whole is navigating the fact that home values rise and fall very differently from region to region. A housing slump felt in Florida may not be experienced at all in California, for example. So, when you’re assessing whether or not a home is a good investment, you need to get hyper local and look at the situation city by city. 

On April 24, 2025, SmartAsset published a ranking of 100 of the largest cities that saw the biggest one-year changes in the typical home value between 2024 and 2025. These are the 15 cities that experienced the biggest increase in value over the past year. 

15. Henderson, Nevada

• Typical home value, 2024: $472,282 
• Typical home value, 2025: $493,510
• 1-year change in typical home value: 4.49%
• 5-year change in typical home value: 44.2%   

14. Las Vegas 

• Typical home value, 2024: $412,841 
• Typical home value, 2025: $431,505
• 1-year change in typical home value: 4.52%
• 5-year change in typical home value: 48.0% 

13. Fort Wayne, Indiana

• Typical home value, 2024: $224,227 
• Typical home value, 2025: $234,891
• 1-year change in typical home value: 4.76%
• 5-year change in typical home value: 58.0%  

12. Buffalo, New York

• Typical home value, 2024: $215,782 
• Typical home value, 2025: $226,329
• 1-year change in typical home value: 4.89%
• 5-year change in typical home value: 59.9%   

11. Jersey City, New Jersey

• Typical home value, 2024: $602,345 
• Typical home value, 2025: $632,704
• 1-year change in typical home value: 5.04%
• 5-year change in typical home value: 25.0%   

10. Madison, Wisconsin

• Typical home value, 2024: $387,377 
• Typical home value, 2025: $407,621
• 1-year change in typical home value: 5.23%
• 5-year change in typical home value: 44.4%   

9. Lexington, Kentucky 

• Typical home value, 2024: $299,842 
• Typical home value, 2025: $315,819
• 1-year change in typical home value: 5.33%
• 5-year change in typical home value: 51.1%   

8. Louisville, Kentucky 

• Typical home value, 2024: $236,376
• Typical home value, 2025: $249,200
• 1-year change in typical home value: 5.43%
• 5-year change in typical home value: 36.9%   

7. Toledo, Ohio 

• Typical home value, 2024: $116,383 
• Typical home value, 2025: $123,094
• 1-year change in typical home value: 5.77%
• 5-year change in typical home value: 55.6%   

6. Anaheim, California

• Typical home value, 2024: $891,835 
• Typical home value, 2025: $945,098
• 1-year change in typical home value: 5.97%
• 5-year change in typical home value: 49.6%   

5. Cleveland 

• Typical home value, 2024: $106,478 
• Typical home value, 2025: $113,400
• 1-year change in typical home value: 6.50%
• 5-year change in typical home value: 52.7%   

4. Santa Ana, California 

• Typical home value, 2024: $809,867 
• Typical home value, 2025: $862,825
• 1-year change in typical home value: 6.54%
• 5-year change in typical home value: 50.3%   

3. San Jose, California

• Typical home value, 2024: $1,420,733
• Typical home value, 2025: $1,521,021
• 1-year change in typical home value: 7.06%
• 5-year change in typical home value: 46.9%   

2. Milwaukee 

• Typical home value, 2024: $192,916 
• Typical home value, 2025: $208,725
• 1-year change in typical home value: 8.19%
• 5-year change in typical home value: 61.9%   

1. Irvine, California

• Typical home value, 2024: $1,421,723
• Typical home value, 2025: $1,614,607
• 1-year change in typical home value: 13.57%
• 5-year change in typical home value: 82.1%   

Sources 

• SmartAsset, “Where Home Values Increased and Decreased Most – 2025 Study.”

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