Real Estate For The Rich: These Are The Most Expensive Housing Markets of 2024

As the housing market and general cost of living continue to rise in the United States, real estate is starting to look like a venture only the rich can afford.

Many factors can impact the state of housing — the mismatch in average income and house prices, higher down payments, lack of inventory of old houses and more. This only widens the gap in expensive house markets.

While home prices are generally increasing across the board, some areas are more affected than others. GOBankingRates has provided a list of the most expensive housing markets with their home values and the average household incomes required to afford them.

• Metro: Miami-Fort Laudendale-Pompano Beach
• County: Palm Beach
• 2024 Home Value: $11,590,488
• Average Household Income: $365,991

• Metro: Port St. Lucia
• County: Martin
• 2024 Home Value: $10,151,033
• Average Household Income: $497,536

• Metro: Glenwood Springs
• County: Pitkin
• 2024 Home Value: $9,020,371
• Average Household Income: $188,344

• Metro:  San Francisco-Oakland-Berkeley
• County: San Mateo
• 2024 Home Value: $7,669,444
• Average Household Income: $594,651

• Metro: Seattle-Tacoma-Bellevue
• County: King
• 2024 Home Value: $7,378,584
• Average Household Income: $609,224

• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• County: Palm Beach
• 2024 Home Value: $7,279,338
• Average Household Income: $387,855

• Metro: Miami-Fort Lauderdale-Pompano Beach
• County: Miami-Dade
• 2024 Home Value: $7,231,144
• Average Household Income: $406,247

• Metro: Miami-Fort Lauderdale
• County: Miami-Dade
• 2024 Home Value: $6,446,573
• Average Household Income: $236,165

• Metro: New York-Newark-Jersey City, 
• County: Suffolk
• 2024 Home Value: $6,267,352
• Average Household Income: $316,703

• Metro: San Jose-Sunnyvale-Santa Clara, CA
• County: Santa Clara
• 2024 Home Value: $5,963,679
• Average Household Income: $460,098

• Metro: Los Angeles-Long Beach-anaheim
• County: Los Angeles
• 2024 Home Value: $5,923,071
• Average Household Income: $231,793

• Metro: N/A
• County: San Miguel
• 2024 Home Value: $5,573,174
• Average Household Income: $147,858

• Metro: Santa Maria-Santa Barbara
• County: Santa Barbara
• 2024 Home Value: $5,549,231
• Average Household Income: $327,332

• Metro: Orlando-Kissimmee-Sanford
• County: Orange
• 2024 Home Value: $5,545,316
• Average Household Income: $154,280

• Metro: Los Angeles-Long Beach-Anaheim
• County: Los Angeles
• 2024 Home Value: $5,366,660
• Average Household Income: $423,224

• Metro: San-Francisco-Oakland-Berkeley
• County: San Mateo
• 2024 Home Value: $5,318,872
• Average Household Income: $539,950

• Metro: Miami-Fort Lauderdale-Pompano Beach 
• County: Palm Beach
• 2024 Home Value: $5,229,151
• Average Household Income: $475,275

• Metro: Brunswick
• County: Gynn
• 2024 Home Value: $5,136,362
• Average Household Income: N/A

• Metro: Glenwood Springs
• County: Pitkin
• 2024 Home Value: $4,915,899
• Average Household Income: $169,404

• Metro: Jackson
• County: Teton
• 2024 Home Value: $4,781,155
• Average Household Income: $204,199

• Metro: San Jose-Sunnyvale-Santa Clara
• County: Santa Clara
• 2024 Home Value: $4,561,489
• Average Household Income: $400,817

• Metro: San Francisco-Oakland-Berkeley
• County: Marin
• 2024 Home Value: $4,529,067
• Average Household Income: $437,620

• Metro: Seattle-Tacoma-Bellevue
• County: King
• 2024 Home Value: $4,463,757
• Average Household Income: $439,677

• Metro: San Jose-Sunnyvale-Santa Clara
• County: Santa Clara
• 2024 Home Value: $4,379,333
• Average Household Income: $422,996

• Metro: N/A
• County: San Miguel
• 2024 Home Value: $4,379,223
• Average Household Income: $115,161

• Metro: San Diego-Chuka Vista-Carisbad
• County: San Diego
• 2024 Home Value: $4,202,523
• Average Household Income: $290,370

• Metro: Seattle-Tacoma-Bellevue
• County: King
• 2024 Home Value: $4,286.562
• Average Household Income: $421,181

• Metro: Cape Coral-Fort Myers
• County: Lee
• 2024 Home Value: $4,284,322
• Average Household Income: N/A

• Metro: San Diego-Chula Vista-Carlsbad
• County: San Diego
• 2024 Home Value: $4,202,523
• Average Household Income: $290,370

• Metro: Kapaa
• County: Kauri 
• 2024 Home Value: $4,110,782
• Average Household Income: $120,725

• Metro: San-Jose-Sunnyvale-Santa Clara
• County: Santa Clara 
• 2024 Home Value: $4,075,652
• Average Household Income: $329,142

• Metro: Los Angeles-Long Beach-Anaheim
• County: Los Angeles
• 2024 Home Value: $4,058,374
• Average Household Income: $288,162

• Metro: New York-Newark-Jersey City
• County: Suffolk
• 2024 Home Value: $4,034,573
• Average Household Income: $295,228

• Metro: Charleston-North Charleston
• County: Charleston County
• 2024 Home Value: $4,034,466
• Average Household Income: $291,546

• Metro: San Francisco-Oakland-Berkeley
• County: San Mateo
• 2024 Home Value: $4,030,239
• Average Household Income: $462,935

• Metro: Seattle-Tacoma-Bellevue
• County: King
• 2024 Home Value: $4,022,060
• Average Household Income: $483,738

• Metro: New York-Newark-Jersey City
• County: Suffolk
• 2024 Home Value: $3,937,093
• Average Household Income: $259,019

• Metro: San Francisco-Oakland-Berkeley
• County: Marin
• 2024 Home Value: $3,902,893
• Average Household Income: $430,034

• Metro: Miami-Fort Lauderdale-Pompano Beach
• County: Miami-Dade
• 2024 Home Value: $3,901,773
• Average Household Income: $264,913

• Metro: Los Angeles-Long Beach-Anaheim
• County: Orange
• 2024 Home Value: $3,867,801
• Average Household Income: $240,906

• Metro: San Jose-Sunnyvale-Santa Clara
• County: Santa Clara
• 2024 Home Value: $3,777,275
• Average Household Income: $301,226

• Metro: New York-Newark-Jersey City
• County: Monmouth
• 2024 Home Value: $3,769,124
• Average Household Income: $159,280

• Metro: San Francisco-Oakland-Berkeley
• County: San Mateo
• 2024 Home Value: $3,758,363
• Average Household Income: $445,543

• Metro: Miami-Fort Lauderdale-Pompano Beach
• County: Palm Beach
• 2024 Home Value: $3,726,535
• Average Household Income: $265,348

• Metro: San Francisco-Oakland-Berkeley
• County: Marin
• 2024 Home Value: $3,643,662
• Average Household Income: $101,575

• Metro: Los Angeles-Long Beach-Anaheim
• County: Los Angeles
• 2024 Home Value: $3,480,026
• Average Household Income: $481,340

• Metro: Phoenix-Mesa-Chandler
• County: Maricopa
• 2024 Home Value: $3,456,447
• Average Household Income: $385,643

• Metro: New York-Newark-Jersey City
• County: Suffolk
• 2024 Home Value: $3,421,349
• Average Household Income: $307,122

• Metro: San Jose-Sunnyvale-Santa Clara
• County: Santa Clara
• 2024 Home Value: $3,411,288
• Average Household Income: $155,195

• Metro: San Francisco-Oakland-Berkeley
• County: Marin
• 2024 Home Value: $3,380,832
• Average Household Income: $312,322

Methodology: For this piece, GOBankingRates found the 50 cities with the richest real estate in terms of 2024 home values as sourced from Zillow’s April 2024 data. For the 50 selected cities, GOBankingRates also found the average household income for each city as sourced from the 2022 American Community Survey conducted by the U.S Census Bureau. All Data was collected and is up to date as of June 2024.