How much does it cost to buy a house in the United States: Latest housing price data and analysis of popular cities in 2024
In recent years, the U.S. real estate market has continued to attract the attention of global investors. This article will combine the hot topics on the Internet in the past 10 days to provide you with a structured analysis of the current housing prices in various states in the United States, home purchase costs and trend forecasts in popular cities, helping you quickly grasp key information.
1. The latest data on median house prices in the United States (first quarter of 2024)
| area | Median house price | Year-on-year change |
|---|---|---|
| national average | $412,000 | +4.3% |
| california | $786,000 | +2.1% |
| Texas | $345,000 | +6.7% |
| Florida | $395,000 | +5.9% |
| new york state | $659,000 | -1.2% |
2. Comparison of housing purchase costs in recently popular cities
According to search data on Redfin and Zillow platforms, the following five cities have become the most popular home purchase destinations for international buyers in the past 10 days:
| City | Typical 3 bedroom price | Average price in popular neighborhoods | rental yield |
|---|---|---|---|
| Houston (Texas) | $320,000 | $450-$650/sqft | 5.8% |
| Miami (Florida) | $580,000 | $700-$1,200/sqft | 4.2% |
| Los Angeles (California) | $980,000 | $1,000-$1,800/sqft | 3.5% |
| Seattle (Washington) | $820,000 | $850-$1,300/sqft | 4.0% |
| Austin (Texas) | $550,000 | $600-$950/sqft | 5.1% |
3. Interpretation of hot house buying trends in 2024
1.Texas continues to lead: Due to the tax-free policy and relatively low cost of living, Houston and Austin have become the first choice for technology immigrants, with annual housing price growth rates of 8-12%.
2.Florida cools down: After experiencing a surge in 2022-2023, housing prices in some coastal cities have dropped by 3-5%, but housing in high-quality school districts has remained stable.
3.Emerging home buying models: The proportion of all-cash transactions rose to 36% (Redfin data), and the search volume for "rent-to-own" plans increased by 217% year-on-year.
4. Reference for calculating additional costs
| Fee type | average cost | illustrate |
|---|---|---|
| property tax | 0.5%-2.5%/year | Texas/Florida is higher |
| Home insurance | $1,200-$5,000/year | Coastal areas double |
| Transfer fee | 2%-5% of total price | Including attorney fees/assessment fees |
| Property management | $200-$800/month | Apartment/Townhouse |
5. Expert advice
1. Pay attention to changes in the Federal Reserve’s interest rate policy. The current 30-year fixed interest rate remains at around 6.8%.
2. It is recommended that new immigrants give priority to "non-judicial auction" properties, which are 15-30% lower than the market price on average.
3. Texas, Tennessee and other states impose no additional taxes on overseas buyers and have low financial thresholds
According to the latest statistics, the average budget of Chinese buyers for purchasing a home in the United States in the first quarter of 2024 is $750,000, a 12% decrease from last year, but the purchase area has increased by 20%, indicating an enhanced cost-effectiveness orientation. It is recommended that home buyers pay close attention to state tax policies and community development trends based on their own needs.
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