50 Neighborhoods Where Home Prices Are Going Through the Roof

Home prices in America are rising more slowly now compared to the past seven years, according to the CoreLogic Home Price Index. The annualized national rate was just 3.6% as of July 2019. However, on a neighborhood-to-neighborhood basis, home prices in some locations are increasing at mind-boggling rates — and they don’t seem to show any signs of slowing down. In some parts of the U.S., homeownership is already unattainable for everyone except for the top 1%.

It’s the densely packed urban areas, in particular, where housing markets are spiraling out of control. For instance, Midtown Manhattan in New York already had a staggering median list price before it jumped by 10% in the last year to settle at nearly $2.5 million. Sky-high prices are pushing homebuyers out of these walkable, urban neighborhoods, according to a Redfin report from August 2019, which translates to spiking prices in car-dependent neighborhoods among satellite cities and suburbs.

So, which neighborhoods are currently witnessing the most ridiculous real estate markets? A new GOBankingRates study used data from Zillow to comb through 2,300 different neighborhoods and identified 50 places where the median list price was already high and is still growing year over year. If you’re dead set on living in one of these expensive cities, make sure you look into the most affordable neighborhoods instead.

Last updated: Nov. 25, 2019

50. Mid-City

• Location: Los Angeles
• Median list price as of September 2019: $1,099,000
• Year-over-year change from 2018-2019: 2.81%

49. Belmont Heights

• Location: Long Beach, California
• Median list price as of September 2019: $1,099,500
• Year-over-year change from 2018-2019: 29.51%

Pictured: Belmont Shore, an adjacent neighborhood

48. Del Rey

• Location: Los Angeles
• Median list price as of September 2019: $1,100,000
• Year-over-year change from 2018-2019: 0.09%

Pictured: Marina del Rey, an adjacent neighborhood

47. South of Market

• Location: San Francisco
• Median list price as of September 2019: $1,162,500
• Year-over-year change from 2018-2019: 22.37%

46. Oxnard Shores

• Location: Oxnard, California
• Median list price as of September 2019: $1,175,888
• Year-over-year change from 2018-2019: 24.5%

45. Aviara

• Location: Carlsbad, California
• Median list price as of September 2019: $1,197,000
• Year-over-year change from 2018-2019: 5.93%

Pictured: Hyatt Aviara Resort in Aviara

44. Outer Sunset

• Location: San Francisco
• Median list price as of September 2019: $1,199,000
• Year-over-year change from 2018-2019: 9%

43. Silver Lake

• Location: Los Angeles
• Median list price as of September 2019: $1,199,000
• Year-over-year change from 2018-2019: 9.1%

42. Pinnacle Peak

• Location: Scottsdale, Arizona
• Median list price as of September 2019: $1,200,000
• Year-over-year change from 2018-2019: 26.45%

41. Myers Park

• Location: Charlotte, North Carolina
• Median list price as of September 2019: $1,212,500
• Year-over-year change from 2018-2019: 1.46%

40. Sherman Oaks

• Location: Los Angeles
• Median list price as of September 2019: $1,212,500
• Year-over-year change from 2018-2019: 10.73%

Home Value Forecast: What Homes Will Be Worth in Your State One Year From Now

39. Old Town

• Location: Alexandria, Virginia
• Median list price as of September 2019: $1,242,000
• Year-over-year change from 2018-2019: 2.01%

38. Park Slope

• Location: New York
• Median list price as of September 2019: $1,247,000
• Year-over-year change from 2018-2019: 3.92%

37. Carmel Valley

• Location: San Diego
• Median list price as of September 2019: $1,250,000
• Year-over-year change from 2018-2019: 4.25%

36. Park West

• Location: San Diego
• Median list price as of September 2019: $1,269,000
• Year-over-year change from 2018-2019: 33.72%

Pictured: Bankers Hill, an adjacent neighborhood

35. South Pointe

• Location: Miami Beach, Florida
• Median list price as of September 2019: $1,295,000
• Year-over-year change from 2018-2019: 2.38%

34. Georgetown

• Location: Washington
• Median list price as of September 2019: $1,295,000
• Year-over-year change from 2018-2019: 2.78%

33. Encino

• Location: Los Angeles
• Median list price as of September 2019: $1,299,000
• Year-over-year change from 2018-2019: 4%

32. North Redmond

• Location: Redmond, Washington
• Median list price as of September 2019: $1,333,880
• Year-over-year change from 2018-2019: 2.41%

Pictured: Redmond

31. Mission Beach

• Location: San Diego
• Median list price as of September 2019: $1,339,950
• Year-over-year change from 2018-2019: 8.59%

30. Roseville-Fleet Ridge

• Location: San Diego
• Median list price as of September 2019: $1,349,000
• Year-over-year change from 2018-2019: 10.21%

Pictured: Point Loma, an adjacent neighborhood

29. Bernal Heights

• Location: San Francisco
• Median list price as of September 2019: $1,350,000
• Year-over-year change from 2018-2019: 4.25%

28. Todt Hill

• Location: New York
• Median list price as of September 2019: $1,379,500
• Year-over-year change from 2018-2019: 15.01%

27. Playa Vista

• Location: Los Angeles
• Median list price as of September 2019: $1,388,000
• Year-over-year change from 2018-2019: 2.85%

26. Armonk

• Location: North Castle, New York
• Median list price as of September 2019: $1,395,000
• Year-over-year change from 2018-2019: 2.57%

25. Mission Hills

• Location: San Diego
• Median list price as of September 2019: $1,400,000
• Year-over-year change from 2018-2019: 2.75%

24. Turtle Rock

• Location: Irvine, California
• Median list price as of September 2019: $1,414,500
• Year-over-year change from 2018-2019: 2.02%

Related: Houses Are Selling the Fastest in These 30 Real Estate Markets

23. Financial District

• Location: New York
• Median list price as of September 2019: $1,450,000
• Year-over-year change from 2018-2019: 3.57%

22. Andreas Hills

• Location: Palm Springs, California
• Median list price as of September 2019: $1,489,000
• Year-over-year change from 2018-2019: 6.43%

Pictured: Palm Springs

21. Mar Vista

• Location: Los Angeles
• Median list price as of September 2019: $1,499,000
• Year-over-year change from 2018-2019: 0.27%

20. Arlington-East Falls

• Location: Arlington, Virginia
• Median list price as of September 2019: $1,556,756
• Year-over-year change from 2018-2019: 4.17%

Pictured: Arlington

19. Orchard Hills

• Location: Irvine, California
• Median list price as of September 2019: $1,590,000
• Year-over-year change from 2018-2019: 2.91%

18. Westwood

• Location: Los Angeles
• Median list price as of September 2019: $1,595,000
• Year-over-year change from 2018-2019: 6.69%

17. North City

• Location: San Diego
• Median list price as of September 2019: $1,705,725
• Year-over-year change from 2018-2019: 13.79%

Pictured: San Diego

16. Park Meadows

• Location: Park City, Utah
• Median list price as of September 2019: $1,788,000
• Year-over-year change from 2018-2019: 1.88%

Avoid: 50 Places Where Home Prices Are Rising Faster Than Rent

Pictured: Park City

15. Upper West Side

• Location: New York
• Median list price as of September 2019: $1,795,000
• Year-over-year change from 2018-2019: 2.57%

14. Mid-City West

• Location: Los Angeles
• Median list price as of September 2019: $1,799,450
• Year-over-year change from 2018-2019: 6.16%

13. Lloyd Harbor

• Location: Huntington, New York
• Median list price as of September 2019: $1,850,000
• Year-over-year change from 2018-2019: 13.88%

12. Mid-Wilshire

• Location: Los Angeles
• Median list price as of September 2019: $1,872,000
• Year-over-year change from 2018-2019: 10.44%

11. Los Feliz

• Location: Los Angeles
• Median list price as of September 2019: $1,899,000
• Year-over-year change from 2018-2019: 5.56%

10. Lake Success

• Location: Great Neck, New York
• Median list price as of September 2019: $2,054,500
• Year-over-year change from 2018-2019: 2.83%

9. Venice

• Location: Los Angeles
• Median list price as of September 2019: $2,200,000
• Year-over-year change from 2018-2019: 0.69%

8. Midtown

• Location: New York
• Median list price as of September 2019: $2,400,000
• Year-over-year change from 2018-2019: 14.31%

7. La Gorce

• Location: Miami Beach, Florida
• Median list price as of September 2019: $2,500,000
• Year-over-year change from 2018-2019: 19.1%

6. NoHo

• Location: New York
• Median list price as of September 2019: $2,950,000
• Year-over-year change from 2018-2019: 2.61%

Pictured: Cooper Square, an adjacent neighborhood

5. Las Olas Isles

• Location: Fort Lauderdale, Florida
• Median list price as of September 2019: $2,988,000
• Year-over-year change from 2018-2019: 17.29%

4. Corona del Mar

• Location: Newport Beach, California
• Median list price as of September 2019: $2,997,500
• Year-over-year change from 2018-2019: 15.31%

3. Upper Deer Valley

• Location: Park City, Utah
• Median list price as of September 2019: $3,250,000
• Year-over-year change from 2018-2019: 20.92%

Pictured: Deer Valley Ski Resort

2. SoHo

• Location: New York
• Median list price as of September 2019: $3,345,000
• Year-over-year change from 2018-2019: 1.38%

1. Pacific Palisades

• Location: Los Angeles
• Median list price as of September 2019: $3,575,000
• Year-over-year change from 2018-2019: 10%

More From GOBankingRates

• The 50 Best Places To Retire — and What It Costs To Live There
  
• How To Avoid Wells Fargo’s Monthly Maintenance Fees
• Best Money Market Accounts of 2020
• Retirees Confess What They Wish They’d Done With Their Money

Methodology: GOBankingRates looked at September 2019 housing data on 2,300 neighborhoods across the United States, as sourced from Zillow. The study analyzed the percentage growth of the median list price for each neighborhood from September 2018 to September 2019. GOBankingRates then took the neighborhoods that saw positive year-over-year growth and created a final list of the 50 neighborhoods with the highest median list price for September 2019. All data used to conduct this ranking was compiled and verified on Nov. 25, 2019.

About the Author

Joel Anderson

Joel Anderson is a business and finance writer with over a decade of experience writing about the wide world of finance. Based in Los Angeles, he specializes in writing about the financial markets, stocks, macroeconomic concepts and focuses on helping make complex financial concepts digestible for the retail investor.

Read More