Median household income: $142,155 (Courtesy Coldwell Banker)
Median household income: $71,289 (Courtesy Coldwell Banker)
Median household income: $32,785 (Courtesy Coldwell Banker)
Median household income: $123,400 (Courtesy Coldwell Banker)
Median household income: $91,411 (Courtesy Coldwell Banker)
Median household income: $156,298 (Courtesy Coldwell Banker)
Median household income: $27,850 (Courtesy Coldwell Banker)
WASHINGTON — Bethesda, Maryland leads the statewide market for most expensive, mid-sized homes, while Vienna tops the Virginia real estate market for most expensive listings.
Bethesda comes in 77th on the national list, with the average price of a four-bedroom, two-bathroom home of $766,090.
Vienna is the most expensive market in Virginia, but comes in 121st on the national list. The price of a four-bedroom, two-bathroom home in Vienna averages $685,369.
Neither state makes the cut for the most affordable market, which goes to Michigan, with an average home price in Detroit of $64,100. In fact, the average home prices in Maryland’s and Virginia’s most affordable markets — Cumberland and Lynchburg, respectively — are more than double that of Detroit.
California tops the charts when it comes to the most expensive, mid-sized homes. The 11 most expensive real estate markets nationwide are in the Golden State, with seven clustered in Silicon Valley.
The numbers come from the listing service Coldwell Banker’s annual report on the most expensive and affordable markets for four-bedroom, two-bathroom homes across the United States.
5 most expensive Maryland markets:
|
Market |
Median household income |
Average price of home |
|
|
1 |
Bethesda | $142,155 | $766,090 |
|
2 |
Annapolis | $71,289 | $582,575 |
|
3 |
Arnold | $102,367 | $559,505 |
|
4 |
Severna Park | $118,938 | $541,434 |
|
5 |
Ellicott City | $116,166 | $534,688 |
5 most affordable Maryland markets:
|
Market |
Median household income |
Average price of home |
|
|
1 |
Cumberland | $32,785 | $155,082 |
|
2 |
Baltimore | $42,417 | $208,361 |
|
3 |
Salisbury | $40,235 | $231,587 |
|
4 |
Hagerstown | $38,754 | $233,246 |
|
5 |
Edgewood | $54,897 | $236,009 |
5 most expensive Virginia markets:
|
Market |
Median household income |
Average price of home |
|
|
1 |
Vienna | $123,400 | $685,369 |
|
2 |
Alexandria | $86,510 | $636,830 |
|
3 |
Annandale | $80,293 | $585,759 |
|
4 |
Fairfax | $99,050 | $563,121 |
|
5 |
Herndon | $91,411 | $532,160 |
5 most affordable Virginia markets:
|
Market |
Median household income |
Average price of home |
|
|
1 |
Lynchburg | $39,048 | $135,300 |
|
2 |
Danville | $31,700 | $142,064 |
|
3 |
Roanoke | $38,684 | $158,181 |
|
4 |
Colonial Heights | $52,088 | $175,079 |
|
5 |
Hopewell | $37,992 | $183,333 |
5 most expensive national markets:
|
Market |
Median household income |
Average price of home |
|
|
1 |
Saratoga, California | $156,298 | $2,453,718 |
|
2 |
Newport Beach, California | $113,657 | $2,130,338 |
|
3 |
Cupertino, California | $127,419 | $1,812,833 |
|
4 |
Redwood City, California | $81,281 | $1,807,068 |
|
5 |
Arcadia, California | $80,830 | $1,748,680 |
5 most affordable national markets:
|
Market |
Median household income |
Average price of home |
|
|
1 |
Detroit, Michigan | $27,850 | $64,110 |
|
2 |
Cleveland, Ohio | $27,456 | $73,073 |
|
3 |
Park Forest, Illinois | $46,593 | $78,392 |
|
4 |
Jamestown, New York | $33,449 | $88,891 |
|
5 |
Utica, New York | $31,567 | $92,891 |
Coldwell Banker provided the ranking information and images for this list. Coldwell Banker is a real estate home search site offering full-service residential and commercial real estate brokerage services.
Disclosure: The data provided includes the most expensive and affordable listings with four bedrooms, two bathrooms from more than 2,000 real estate markets nationwide, after analysis of more than 50,000 similar-sized homes between January and June 2016.
