- Posted at 11:03, November 27, 2013
- By Russ Bleemer
Catching up: An expansive report on homeownership came out earlier this month from the U.S. Census Bureau, using the American Community Survey three-year estimates.
And New York is still near the top of the value list.
Since the last look in 2008-2009, the end of the recession has produced an increase in renters nationall, with "a significant decrease in median home value (–$17,300) as well as homeownership rate (–1.7) from 2007–2009 to 2010–2012."
But some of the highest home values were in the metropolitan area.
New Jersey at $325,800 was fifth nationally, followed by New York in seventh place at a median home price value of $286,700, and Connecticut in eighth place at $278,600. Hawaii was the top median value state at $503,100.
But all of these states experienced drops in median value, post recession, from the 2008-2009 report.
Not surprisingly, local counties were also at the top of the median value list. New York County had the highest median home value at $812,300 in 2010–2012. Kings Count was in a statistical tie for third with Honolulu County, Hawaii, at $556,300, with Westchester County, right behind at $516,600 and Nassau County in the top 10 at $452,200.
Among metropolitan areas, the New York-Northern New Jersey-Long Island had the fourth highest median home value at $412,500.
San Francisco, at $737,700, leads the city median values list, followed by San Jose City, Calif., at $546,300, and then New York City at $490,400. For comparison: "The city that had the lowest median home value of the 50 most populous cities in 2010–2012" is Detroit ... at $48,000."
The Census Bureau brief can be found here.