Wealthy PotAverage Home Price in the US: New and Existing Homes, by Region and State
The typical existing home in the US sold for $429,100 in August 2026. That is the median price for all existing-home types reported by the National Association of Realtors (NAR), up 1.6% from a year earlier. Newly built houses were cheaper at the middle of the market: the Census Bureau and HUD put the median sales price of a new house at $393,700 in August 2026 and the average at $478,700. Which number is "the average home price" depends on whether you mean new or existing homes and median or mean. This page sets out each measure from its original source, then breaks prices down by region, by state, over time and against household income.
Table of Contents
The Short Answer
- $429,100 was the median price of existing homes sold in August 2026, up 1.6% from $422,400 a year earlier (NAR). Existing homes are more than 90% of all home sales.
- $393,700 was the median and $478,700 the average price of new houses sold in August 2026 (Census/HUD, preliminary). For all of 2025 the figures were $417,400 and $523,800.
- $360,600 is the median value of all owner-occupied homes, as estimated by their owners in the 2024 American Community Survey, the latest available.
- By state, that median value runs from $170,800 in West Virginia to $875,900 in Hawaii.
- Prices are still rising, slowly: the FHFA House Price Index was up 2.1% nationally from mid-2025 to mid-2026, with gains in 46 states and DC.
- The 2025 median new home cost 4.8 times the median household income of $87,460, against about 4.0 times in 2000 (our calculation from Census data).
New vs Existing Home Prices
Two monthly reports set the national home price. NAR counts closed sales of previously owned homes (single-family homes, townhomes, condos and co-ops) from multiple listing services. The Census Bureau and HUD survey sales of newly built single-family houses, counted when a contract is signed or a deposit taken. The price includes the land.
| Measure, August 2026 | Price | Change from August 2025 |
|---|---|---|
| Existing homes, all types, median | $429,100 | +1.6% |
| Existing single-family homes, median | $434,800 | +1.7% |
| Existing condos and co-ops, median | $371,600 | +1.5% |
| New single-family houses, median | $393,700 | -5.8% (not statistically significant) |
| New single-family houses, average | $478,700 | -8.8% |
It surprises many buyers that the median new home sold for $35,400 less than the median existing home in August 2026. The new-home figure reflects where builders are building and what they build. About two in three new homes sold in August (451,000 of a 684,000 annual rate) were in the South, the lowest-priced region for new construction, and about half of new homes sold that month went for under $400,000. The Census Bureau notes that its price changes reflect shifts in the mix of houses by region and size, not only changes in the price of identical homes.
Both series are volatile month to month. NAR advises comparing a month's median only with the same month a year earlier, because of seasonal buying patterns. The Census Bureau's August estimates carry wide error bands: the 5.8% fall in the new-home median could be anything from a 14.0% fall to a 2.4% rise at 90% confidence.
Median vs Average Home Price
The median is the middle sale: half of homes sold for more and half for less. The average (mean) adds up every sale price and divides by the number of sales, so a small number of very expensive homes pulls it up. In August 2026 the average new home cost $85,000 more than the median new home ($478,700 against $393,700). NAR reports medians for this reason, saying they are "more typical of market conditions than average prices, which are skewed higher by a relatively small share of upper-end transactions."
The gap is widest in the Northeast, where the average new home in the second quarter of 2026 was $1,062,600 against a median of $704,700. For a sense of what a typical buyer pays, use the median. Search results that quote a figure above $500,000 as "the average home price" are usually quoting the Census average for new homes.
Home Prices by Region
Each source splits the country into the same four Census regions, so the measures can be read side by side.
| Region | Existing homes, median (Aug 2026) | New homes, median (Q2 2026) | New homes, average (Q2 2026) | Owner-estimated value, median (2024) |
|---|---|---|---|---|
| Northeast | $556,900 | $704,700 | $1,062,600 | $411,600 |
| Midwest | $340,400 | $397,200 | $438,200 | $265,100 |
| South | $366,500 | $362,500 | $435,100 | $323,500 |
| West | $619,100 | $546,700 | $645,400 | $592,600 |
| United States | $429,100 | $410,700 | $502,700 | $360,600 |
The West is the most expensive region for existing homes, at $619,100, and the only one where NAR's median fell from a year earlier (down 0.2%). The Northeast had the fastest existing-home price growth, up 4.3%, followed by the Midwest at 3.3%. At the median, new homes cost more than existing homes in the Northeast and Midwest and less in the South and West, though the two series cover different months.
Median Home Value by State
Neither NAR's monthly report nor the Census new-home survey publishes state prices. The government source that covers every state is the American Community Survey (ACS), which asks owners what their home would sell for. It measures the value of all owner-occupied homes, not only homes that sold recently, so it runs below recent sale prices: $360,600 nationally in 2024, against a 2024 median new-home sale price of $420,300. It is still the best like-for-like comparison of states. The 2025 ACS release has been delayed, so 2024 is the latest year available.
The last column shows how fast prices moved in each state over the year to the second quarter of 2026, from the FHFA House Price Index, which tracks repeat sales of the same single-family homes.
| State | Median home value (2024) | Median household income (2024) | Value-to-income ratio | FHFA price change, Q2 2025 to Q2 2026 |
|---|---|---|---|---|
| Hawaii | $875,900 | $100,745 | 8.7 | +5.8% |
| California | $759,500 | $100,149 | 7.6 | -0.2% |
| District of Columbia | $733,400 | $109,707 | 6.7 | +1.7% |
| Massachusetts | $607,400 | $104,828 | 5.8 | +3.6% |
| Washington | $602,200 | $99,389 | 6.1 | -0.9% |
| Colorado | $574,600 | $97,113 | 5.9 | -0.5% |
| Utah | $545,200 | $96,658 | 5.6 | +1.1% |
| Oregon | $497,500 | $85,220 | 5.8 | +0.3% |
| New Jersey | $496,000 | $104,294 | 4.8 | +4.6% |
| New Hampshire | $458,800 | $99,782 | 4.6 | +3.1% |
| Rhode Island | $455,700 | $83,504 | 5.5 | +4.7% |
| Nevada | $455,500 | $81,134 | 5.6 | +2.8% |
| New York | $449,800 | $85,820 | 5.2 | +3.5% |
| Idaho | $446,400 | $81,166 | 5.5 | +3.6% |
| Maryland | $436,300 | $102,905 | 4.2 | +1.0% |
| Arizona | $426,000 | $81,486 | 5.2 | +0.6% |
| Montana | $425,400 | $75,340 | 5.6 | +2.8% |
| Virginia | $403,500 | $92,090 | 4.4 | +3.1% |
| Connecticut | $396,900 | $96,049 | 4.1 | +4.7% |
| Florida | $396,900 | $77,735 | 5.1 | +1.0% |
| Alaska | $376,500 | $95,665 | 3.9 | +8.3% |
| Delaware | $371,600 | $87,534 | 4.2 | +3.3% |
| Vermont | $352,800 | $82,730 | 4.3 | +7.3% |
| Minnesota | $344,600 | $87,117 | 4.0 | +2.5% |
| Georgia | $343,300 | $79,991 | 4.3 | +1.9% |
| Maine | $341,900 | $76,442 | 4.5 | +1.1% |
| Wyoming | $339,500 | $75,532 | 4.5 | +3.2% |
| North Carolina | $333,000 | $73,958 | 4.5 | +0.4% |
| Tennessee | $332,600 | $71,997 | 4.6 | +0.9% |
| Texas | $313,200 | $79,721 | 3.9 | +0.5% |
| South Carolina | $299,500 | $72,350 | 4.1 | +2.4% |
| Wisconsin | $294,700 | $77,488 | 3.8 | +4.8% |
| South Dakota | $289,600 | $76,881 | 3.8 | +1.1% |
| Illinois | $280,700 | $83,211 | 3.4 | +5.6% |
| New Mexico | $279,900 | $67,816 | 4.1 | -1.2% |
| Pennsylvania | $277,600 | $77,545 | 3.6 | +3.9% |
| North Dakota | $266,100 | $77,871 | 3.4 | +4.8% |
| Nebraska | $263,100 | $76,376 | 3.4 | +2.0% |
| Missouri | $254,400 | $71,589 | 3.6 | +3.8% |
| Michigan | $254,200 | $72,389 | 3.5 | +3.8% |
| Indiana | $243,500 | $71,959 | 3.4 | +3.5% |
| Ohio | $239,800 | $72,212 | 3.3 | +4.4% |
| Kansas | $238,700 | $75,514 | 3.2 | +3.3% |
| Alabama | $233,300 | $66,659 | 3.5 | +2.8% |
| Iowa | $227,300 | $75,501 | 3.0 | +2.2% |
| Kentucky | $226,000 | $64,526 | 3.5 | +4.2% |
| Louisiana | $223,200 | $60,986 | 3.7 | +1.6% |
| Oklahoma | $222,100 | $66,148 | 3.4 | +2.0% |
| Arkansas | $215,600 | $62,106 | 3.5 | +1.1% |
| Mississippi | $186,500 | $59,127 | 3.2 | +0.5% |
| West Virginia | $170,800 | $60,798 | 2.8 | +5.6% |
Hawaii and California stand apart: a median home is worth 8.7 and 7.6 times the median household income there. At the other end, West Virginia and Iowa sit at about 3 times income. Price growth no longer follows price level. Three of the seven most expensive states, California, Washington and Colorado, saw small declines over the past year, while Alaska (+8.3%), Vermont (+7.3%) and Illinois (+5.6%) led the country. FHFA reports that national prices have risen year over year in every quarter since the start of 2012.
Home Price History Since 1970
The Census Bureau's new-home price series goes back to 1963, which makes it the longest consistent national record of what houses sell for.
| Year | Median new home price | Average new home price |
|---|---|---|
| 1970 | $23,400 | $26,600 |
| 1980 | $64,600 | $76,400 |
| 1990 | $122,900 | $149,800 |
| 2000 | $169,000 | $207,000 |
| 2006 | $246,500 | $305,900 |
| 2010 | $221,800 | $272,900 |
| 2015 | $294,200 | $352,700 |
| 2019 | $321,500 | $383,900 |
| 2020 | $330,900 | $391,600 |
| 2021 | $383,500 | $458,300 |
| 2022 | $434,500 | $521,500 |
| 2023 | $428,600 | $514,000 |
| 2024 | $420,300 | $514,500 |
| 2025 | $417,400 | $523,800 |
Three periods stand out. Prices rose through the early 2000s to a 2006 peak, then fell 10% at the median by 2010 during the housing crash. From 2020 to 2022 the median jumped 31% in two years. Since 2022 the new-home median has drifted down each year while the average has held above $500,000. The Census Bureau cautions that its price changes partly reflect a shifting mix of homes sold, by region and size, not only the price of comparable homes.
Home Prices vs Household Income
A price only means something next to what people earn. Dividing the Census median new-home price by the Census median household income for the same year gives a rough affordability ratio.
| Year | Median new home price | Median household income | Price-to-income ratio |
|---|---|---|---|
| 1990 | $122,900 | $29,940 | 4.1 |
| 2000 | $169,000 | $41,990 | 4.0 |
| 2006 | $246,500 | $48,200 | 5.1 |
| 2010 | $221,800 | $49,280 | 4.5 |
| 2019 | $321,500 | $68,700 | 4.7 |
| 2022 | $434,500 | $74,580 | 5.8 |
| 2025 | $417,400 | $87,460 | 4.8 |
Since 2000, the median new-home price has risen 147% while median household income has risen 108%. The ratio peaked at 5.8 in 2022, above the 2006 bubble-era level, and has eased to 4.8 as incomes grew and the new-home median slipped. Using the August 2026 existing-home median of $429,100 instead gives about 4.9 times 2025 income. These ratios leave out mortgage rates, which matter as much as price for the monthly cost. To turn a price into a payment, use our mortgage calculator or see the average mortgage payment.
The upfront cost is the other hurdle. Our page on the average down payment on a house shows what buyers actually put down, and the average age of first-time home buyers shows how long it takes to get there. First-time buyers made up 30% of existing-home sales in August 2026, according to NAR. If the numbers do not work yet, our rent vs buy comparison walks through the break-even, and home insurance is a running cost to add on top of the mortgage.
Sources & Methodology
- National Association of Realtors, Existing-Home Sales, August 2026 (September 10, 2026): national, single-family, condo and regional median prices, first-time buyer share.
- Census Bureau and HUD, Monthly New Residential Sales, August 2026 (release CB26-155, September 24, 2026): median and average price of new houses sold, sales by region and by price range.
- Census Bureau and HUD, New Residential Sales historical series, Table Q6: annual and quarterly median and average new-home prices by region since 1963.
- FHFA House Price Index, 2026Q2 (August 25, 2026) and the full quarterly report with state tables.
- Census Bureau, American Community Survey 2024 1-year, table B25077 (median value) and table B19013 (median household income), national, regional and state rows.
- Census Bureau, Income in the United States: 2025 (P60-289, September 15, 2026) and historical Table H-8: median household income in current dollars.
Method notes. NAR and Census report medians from different data: NAR from closed sales of existing homes in multiple listing services, Census from a sample survey of new single-family houses at contract signing. The ACS value is the owner's estimate for all owner-occupied homes and is not a sale price. The most recent Census monthly figures are preliminary, and the August 2026 average new-home price has a 90% confidence interval of plus or minus 7.7 percentage points on its yearly change. Price-to-income and value-to-income ratios are our calculations; the national table divides a Census sale-price median by a Current Population Survey income median, while the state table divides two figures from the same ACS survey. NAR's September 2026 figures are due October 13, 2026, and Census's September new-home figures on October 27, 2026.
This article is for general information and is not financial, real estate or investment advice. Figures are from NAR, the Census Bureau, HUD and FHFA, checked against the primary sources on 2026-10-08. Ratios are our own calculations and are illustrative. Home prices vary widely by neighborhood, and a local agent's comparable sales or an appraisal will say more about a specific home than any national figure; consider speaking to a qualified professional before buying or selling.
FAQ
What is the average home price in the US right now?
The median existing home sold for $429,100 in August 2026, according to NAR. For new houses, the Census Bureau reports a median of $393,700 and an average of $478,700 for the same month.
What was the average cost of a new house in 2025?
The average new house sold for $523,800 in 2025 and the median for $417,400, according to the Census Bureau and HUD. In 2024 the figures were $514,500 and $420,300.
Why is the average home price higher than the median?
A small number of very expensive sales pull the average up, while the median is simply the middle sale. In August 2026 the average new home cost $85,000 more than the median new home.
Are new homes more expensive than existing homes?
Not at the median right now. In August 2026 the median new home sold for $393,700 and the median existing home for $429,100. About two-thirds of new homes are sold in the South, where prices are lower, and about half of new homes sold in August 2026 went for under $400,000.
Which state has the most expensive homes?
Hawaii, with a median home value of $875,900 in the 2024 American Community Survey, followed by California at $759,500. The District of Columbia, at $733,400, is higher than every state except those two. West Virginia is lowest at $170,800, then Mississippi at $186,500.
Are home prices going down?
Not nationally. The FHFA index rose 2.1% from the second quarter of 2025 to the second quarter of 2026, and NAR's August 2026 median was up 1.6% on the year. Prices fell slightly in four states over that period: California, Colorado, Washington and New Mexico.
How much have home prices risen since 2000?
The median new home cost $169,000 in 2000 and $417,400 in 2025, a rise of 147%. Median household income rose 108% over the same years, from $41,990 to $87,460.
How often do these numbers change?
NAR and the Census Bureau publish new prices every month, FHFA every month and quarter, and the American Community Survey once a year. The next NAR report is due October 13, 2026, and the next Census new-home report October 27, 2026.
Cite This Page
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"Average Home Price in the US: New and Existing Homes, by Region and State." Wealthy Pot, 2026. https://wealthypot.com/average-home-price/
