Home Prices in These 10 Places Just Hit Record Highs

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Why do home prices in the U.S. keep rising? It’s a top-of-mind question for many — particularly those who want to buy but keep finding that it’s financially unfeasible. The No. 1 reason home prices are high and still going up is the chronic inventory shortage. Supply simply isn’t keeping up with demand. 

In the first quarter of 2025, the average sales price of a home in the U.S. was $503,800. In some areas, that number is outrageously high, but in others it’s rock bottom low. Buyers in the following 10 cities, where home prices just hit record highs, would be astonished to find a nice home for as “cheap” as $500,000. Along with rental costs, according to Zillow, and how livable they are, according to Niche, here’s how much homes are going for in these places hitting new highs.

10.  Riverside, California

• April 2025 median list price: $608,333 
• Cost of average monthly rent: $2,290
• Livability grade: B-

9. Washington, D.C. 

• April 2025 median list price: $648,333 
• Cost of average monthly rent: $2,500
• Livability grade: A

8. New York

• April 2025 median list price: $751,333
• Cost of average monthly rent: $3,550   
• Livability grade: A-

7. Seattle 

• April 2025 median list price: $819,667
• Cost of average monthly rent: $2,100
• Livability grade: A+

6. Boston 

• April 2025 median list price: $853,000
• Cost of average monthly rent: $3,400  
• Livability grade: A

5. Honolulu 

• April 2025 median list price: $1,095,633 
• Cost of average monthly rent: $2,800 ]
• Livability grade: A-

4. Oxnard, California

• April 2025 median list price: $1,095,633
• Cost of average monthly rent: $3,200
• Livability grade: C

3. Los Angeles 

• April 2025 median list price: $1,175,000
• Cost of average monthly rent: $2,750  
• Livability grade: B

2. San Jose, California

• April 2025 median list price: $1,665,267
• Cost of average monthly rent: $3,004 
• Livability grade: A-

1. Santa Maria, California

• April 2025 median list price: $1,802,500 
• Cost of average monthly rent: $2,495
• Livability grade: C-

Methodology: For this piece, GOBankingRates looked at the April 2025 median list price data by Metro as sourced from Zillow. GOBankingRates looked at the 200 largest Metros in the U.S. and using Zillow’s April 2025 data was able to determine if April 2025 median list price was an all-time high for each corresponding metro. Only those metros whose April 2025 median list price was the highest of all time were included. All data was collected and is up to date as of June 2, 2025.

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