There’s no national housing market. Costs vary widely — not only from state to state, but also from neighborhood to neighborhood within cities. But one trend holds true no matter where you are in the nation: Home prices have risen dramatically in the last five years.
The median existing home — a category that includes any apartment, condo, townhome, or single-family house not purchased new from a builder — sold for $415,200 in October. That’s up from $271,100 five years ago. The rapid rise in costs has had dramatic implications for the country: It has encouraged aspiring first-time homeowners to keep renting for longer, made it harder for families in starter homes to afford to move, and for empty nesters to downsize.
Read more: Should you buy or rent a home? How to decide.
For the third year in a row, these factors are likely to result in home sales staying stuck around 30-year lows. But what does it mean to have $415,200 to spend on a home in 2025? We examined listings in some of the nation’s biggest metro areas. Here’s a sample.
17 West 64th St #2E, New York ·StreetEasy
This studio apartment with a separate kitchen is located in a nine-story elevator building in Manhattan’s Lincoln Square neighborhood, steps from Central Park. Monthly fees of $1,183 cover taxes and building maintenance.
The apartment, in a 1924 building, features crown molding and hardwood floors. The estimated monthly payment, including mortgage and maintenance, comes out to $3,216 with a 20% down payment and a 6.2% mortgage rate.
The median home in New York City sells for around $800,000, while it’s closer to $1.2 million in Manhattan.
1100 Wilshire Blvd Apt. 2805, Los Angeles ·Zillow
In downtown LA, $420,000 buys a 28th-floor one-bedroom, one-bathroom condo. The 847-square-foot unit includes an open-concept kitchen with a granite countertop and stainless steel appliances as well as walk-in closets.
The 1986 building has a 17th-floor skydeck with an infinity pool, spa, and cabanas. The building also has a fitness center and a screening room. HOA fees are $1,173 monthly.
The estimated monthly payment, including the mortgage, taxes, insurance, and fees, is $3,789 with 20% down and a 6.2% mortgage rate. The median home in the Los Angeles metro area is listed for $1.1 million.
33 W Ontario St. Apt. 30G, Chicago ·Zillow
Located in Chicago’s River North neighborhood, this two-bedroom, two-bathroom corner unit has skyline and river views. The 1,325-square-foot home has an open kitchen with maple cabinets and comes with an in-unit washer and dryer.
The 2004 building has 24-hour doormen, an outdoor pool, and a fitness center. Monthly fees of $1,192 cover all utilities except electricity.
The estimated monthly payment, including mortgage, taxes, insurance, and fees, is $4,198 with 20% down and a 6.2% mortgage rate. The median home in the Chicago area is listed for $364,900.
522 Griffith Ave., Dallas ·Zillow
In Dallas’s Oak Cliff neighborhood, $415,000 buys a two-bedroom, two-bathroom main home with an additional one-bedroom, one-bath guesthouse. The 1,200-square-foot one-story home was built in 1932 but recently renovated.
The estimated monthly payment, including mortgage principal, taxes, and homeowners insurance, is $2,787 with 20% down and a 6.2% mortgage rate. However, the home sits in a flood zone, meaning most buyers will be required by their lender to carry flood insurance.
The median home in the Dallas area is listed for $425,000.
2118 Cheshire Ln., Houston ·Zillow
This one-story brick home in northwest Houston has three bedrooms and one bathroom and was built in 1955. The 1,298-square-foot home’s HVAC system was updated last year, and its kitchen and bathroom last received renovations in 2012.
The 20-foot by 10-foot garage was converted into a flexible room with central air conditioning and heat. In the backyard, there is a covered patio area.
The estimated monthly payment, including mortgage principal, taxes, and homeowners insurance, is $3,251 with 20% down and a 6.2% mortgage rate. The median home in the Houston region lists for $358,000.
1609 S 23rd Ave., Hollywood, Fla. ·Zillow
In Hollywood, Fla., which sits between Miami and Fort Lauderdale, this three-bedroom, two-bathroom ranch-style home has 1,355 square feet. Built in 1954, the home sits about 15 minutes from the beach.
The estimated monthly payment, including mortgage principal, taxes, and insurance, is $3,329 with 20% down and a 6.2% mortgage rate.
The median home in greater Miami, which includes Miami, Fort Lauderdale, and West Palm Beach, lists for $499,999.
656 Azalea Dr #4, Rockville, Md. ·Zillow
This two-story, three-bedroom, two-and-a-half-bathroom brick townhome in suburban Rockville, Md., recently received new hardwood flooring. Its primary bedroom features an en suite bathroom, and the 1,320-square-foot home boasts an open living area with a separate dining room.
Condo fees are $481 a month. The estimated monthly payment, including mortgage principal, taxes, fees, and insurance, is $3,044 with a 20% down payment and a 6.2% interest rate.
The median listing price in the Washington, D.C., area, which encompasses the city, suburban Maryland and Virginia, and even a sliver of West Virginia, is $594,500.
749 Bonnie Brae Ave SW, Atlanta ·Zillow
In Atlanta’s Adair Park neighborhood, this three-bedroom, two-bathroom home has an open layout and a fenced-in backyard. The 1,141-square-foot 1952 home’s kitchen has been updated, and its main bedroom has an updated en suite bathroom.
Adair Park, a residential neighborhood southwest of the city’s downtown, is near the Atlanta Beltline’s Westside Trail.
The estimated monthly payment, including mortgage, insurance, and taxes, is $2,705 with 20% down and a 6.2% interest rate.
The median home in the Atlanta area nearly perfectly matches national averages: It’s $415,000.
7435 La Salle Blvd., Detroit ·Zillow
In the La Salle Gardens neighborhood of Detroit, $425,000 can buy a five-bedroom home with two full and two half bathrooms. The 1916 home, which spans over 3,500 square feet, features many period details, including tray ceilings and interior archways.
Outside, there’s an in-ground pool and a detached two-car garage. The estimated monthly payment, including mortgage, insurance, and taxes, is $2,552, assuming a 20% down payment and a 6.2% mortgage rate.
The median home in the Detroit metro area is listed for $268,000. The region is one of just a handful of cities where a median-income worker can comfortably afford a median-priced home.
13842 N 52nd Ave., Glendale, Ariz. ·Zillow
Northwest of Phoenix, this single-story, three-bedroom home recently received bathroom updates and has an in-ground pool and a two-car garage. It received a new air conditioning unit last year — critical in a city where average summer highs are over 100 degrees.
The monthly payment, including mortgage, insurance, and taxes, is $2,312, assuming a 20% down payment and a 6.2% mortgage rate. However, the home is advertised as having an assumable 3.375% FHA loan. Provided a potential buyer could cover the gap between the remaining mortgage and the sales price, a loan assumption could lock in a much lower monthly payment.
Learn more: What is an assumable mortgage, and how can you get one?
The median listing price in the Phoenix area is $495,000.
7038 Pernod Ave, St. Louis ·Zillow
This Victorian home in the Lindenwood Park neighborhood features three bedrooms, two and a half bathrooms, and a wealth of old-school details, including original windows and mahogany woodworking throughout. The home’s foyer, sitting room, and dining room all have chandeliers.
Built in 1890, the 1,810-square-foot home also has more modern touches like central air and a soaking tub with a separate shower. Off the kitchen sits a back deck overlooking a fenced-in backyard.
The estimated monthly payment, including mortgage, insurance, and taxes, is $2,403, with a 20% down payment and a 6.2% interest rate.
The median listing price in the St. Louis area is $295,900. Like Detroit, the city is considered to be one of the last affordable options for median-income buyers.
Read more: How to get the lowest mortgage rate possible right now
Claire Boston is a Senior Reporter for Yahoo Finance covering housing, mortgages, and home insurance.
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