10 Surprising Places Where Home Prices Are Escalating

The two most recent consumer price index reports showed that inflation is finally starting to cool economy-wide. But the clearest evidence that the Federal Reserve’s aggressive interest rate hikes are having the desired effect is in the housing market. According to Kiplinger, home prices have fallen for three months straight as buyers and borrowers retreat from rising mortgage rates.

But as always, real estate is local. 

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Using data from Zillow, GOBankingRates identified 10 cities where home prices are breaking the trend and moving up instead of down.

The following list is ranked in ascending order from the cities with the lowest increase in home values over three months to those with the highest. They’re ranked according to the percentage increase, but the dollar-based change in the sale price is noted for each city, as well. Most are on the East Coast or in the Rust Belt, but one noteworthy Kansas city tops the list. 

Keep reading to learn about the U.S. real estate markets where home prices continue to rise, despite what’s going on in the rest of the country. 

• September 2022 median sale price: $334,167
• 3-month dollar change in sale price: $11,667
• 3-month percent change in sale price: 3.49%

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• September 2022 median sale price: $200,167
• 3-month dollar change in sale price: $7,000
• 3-month percent change in sale price: 3.50%

• September 2022 median sale price: $349,083
• 3-month dollar change in sale price: $13,916
• 3-month percent change in sale price: 3.99%

• September 2022 median sale price: $200,000
• 3-month dollar change in sale price: $8,333
• 3-month percent change in sale price: 4.17%

• September 2022 median sale price: $293,333
• 3-month dollar change in sale price: $13,433
• 3-month percent change in sale price: 4.58%

• September 2022 median sale price: $603,600
• 3-month dollar change in sale price: $28,633
• 3-month percent change in sale price: 4.74%

• September 2022 median sale price: $171,000
• 3-month dollar change in sale price: $8,117
• 3-month percent change in sale price: 4.75%

• September 2022 median sale price: $239,833
• 3-month dollar change in sale price: $12,833
• 3-month percent change in sale price: 5.35%

• September 2022 median sale price: $254,167
• 3-month dollar change in sale price: $14,500
• 3-month percent change in sale price: 5.70%

• September 2022 median sale price: $228,708
• 3-month dollar change in sale price: $13,541
• 3-month percent change in sale price: 5.92%

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Methodology: For this piece, GOBankingRates used Zillow’s September 2022 median sale price data to determine where prices are rising the most. First, GOBankingRates limited the scope to the largest 100 metro areas and from there, isolated the September 2022 median sale price for each as well as the June 2022 median sale price. With these two figures isolated, GOBankingRates was able to find (1) the numerical change in median sale price over the last three months and (2) the percent change in median sale price over the last three months. Only factor (2) was used in determining rank. All data was collected and is up to date as of November 16, 2022.