BELOW SUPERNAV drop zone ⇩

10 US cities where home prices are getting worse

MAIN AREA TOP drop zone ⇩

Mortgage Calculator

This calculator helps you estimate your monthly mortgage payment. It adds up the loan payment (principal + interest), property tax, and insurance. The loan payment is spread out over the years of your loan term.

This is the total amount you're borrowing from the bank.
This is the yearly interest rate on your loan.
This is how long you'll take to repay the loan.
This is the yearly tax you pay on your property.
This is the yearly cost to insure your home.

Monthly Payment Breakdown

Principal and Interest: $

Property Tax: $

Homeowners Insurance: $

Total Estimated Monthly Payment: $

(NEXSTAR) — If you’ve spent the last couple of years waiting for the housing market to cool down, you know that hasn’t quite happened. In fact, some markets are only seeing prices rise, despite cooling inflation and still-high mortgage rates.

It’s not all bad news. Redfin reported earlier this week that home prices in the U.S. are rising at the slowest pace in nearly a year and a half as new listings also trend up. However, in a report released Thursday, Redfin noted that home prices have hit new highs.

An analysis by personal finance website SmartAsset found that is especially true across multiple markets.

Nationally, SmartAsset found home prices have climbed 6% over the last year, but nearly 49% over the last five. The report reviewed home sale data for the 100 largest cities in the U.S. to determine the one-year and five-year price growth for single-family homes, condos and co-ops.

The analysis found that, while coastal cities are primarily the most expensive, it was otherwise affordable markets that have seen the highest price increases recently.

At the top of the list was Wichita, Kansas (a state that will pay off your student debt if you move there). According to SmartAsset, home prices rose more than 21% in Wichita between April 2023 and April 2024, with the average home sale price hitting $259,000. Prices have jumped more than 69% since 2019, when home prices were, on average, around $153,000 in Wichita.

Below are the 10 cities SmartAsset determined had the largest one-year price changes, as well as the average home sale price in each city as of April 2024:

RankMetro1-year price changeAverage sale price in April 2024
1Wichita, Kansas21.20%$259,264
2Toledo, Ohio16.40%$157,176
3Madison, Wisconsin15.30%$387,610
4San Jose, California12.90%$1,502,362
5New Haven, Connecticut12.80%$336,023
6Miami, Florida12.60%$472,421
7Buffalo, New York12.20%$231,596
8Grand Rapids, Michigan12.00%$314,511
9Harrisburg, Pennsylvania11.00%$241,475
10Charleston, South Carolina10.90%$423,050
Courtesy SmartAsset

Narrowly missing the top 10 was San Francisco, where the average sale price has climbed almost 11% to $1.13 million over the last year. That’s the second-highest price across U.S. metros, coming in just behind San Jose.

Also missing the top 10 was Knoxville, Tennessee, where, according to SmartAsset, home prices have increased 90% over the last five years: in April, the average price was about $334,300, nearly double the $176,400 homes were going for in 2019.

If you’re looking for a deal, SmartAsset determined that five major metros have seen home prices decrease within the last year.

Seeing the largest price drop was Cape Coral, Florida, where the average single-family home dropped 5.3% over a year to $310,600. However, a recent Redfin analysis named Cape Coral among a handful of Florida cities that have seen inventory surge over the last year while homes sit on the market longer. A growing prevalence of natural disasters, pushing home insurance costs higher, is also impacting the region’s real estate market.

Below are the cities that have seen prices drop as of late.

Metro1-year price changeAverage sale price in April 2024
Cape Coral, Florida-5.30%$310,602
Jackson, Mississippi-3.70%$223,310
Birmingham, Alabama-1.80%$227,177
Lakeland, Florida-0.50%$297,820
Memphis, Tennessee-0.40%$226,295
Courtesy SmartAsset

You can view SmartAsset’s full study here.

If you are holding out for a downshift in home prices, you may be in luck. Redfin noted in its report that sellers are dropping prices on their listings at the highest level since November 2022. Mortgage rates have also fallen, and the asking-price growth has slowed.

Your Money

Copyright 2025 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed

MAIN AREA MIDDLE drop zone ⇩

Trending on NewsNation

MAIN AREA BOTTOM drop zone ⇩

tt

KC Chiefs parade shooting: 1 dead, 21 shot including 9 kids | Morning in America

Witness of Chiefs parade shooting describes suspect | Banfield

Kansas City Chiefs parade shooting: Mom of 2 dead, over 20 shot | Banfield

WWE star Ashley Massaro 'threatened' by board to keep quiet about alleged rape: Friend | Banfield

Friend of WWE star: Ashley Massaro 'spent hours' sobbing after alleged rape | Banfield

Clear

la

52°F Clear Feels like 52°
Wind
2 mph N
Humidity
36%
Sunrise
Sunset

Tonight

Mainly clear skies. Low around 45F. Winds light and variable.
45°F Mainly clear skies. Low around 45F. Winds light and variable.
Wind
5 mph NNE
Precip
0%
Sunset
Moon Phase
Waxing Gibbous