These Are The Most Expensive Housing Markets of 2024

©Zillow

As the housing market and general cost of living continue to rise in the United States, real estate is starting to look like a venture only the rich can afford.

Many factors can impact the state of housing — the mismatch in average income and house prices, higher down payments, lack of inventory of old houses and more. This only widens the gap in expensive house markets.

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While home prices are generally increasing across the board, some areas are more affected than others. GOBankingRates has provided a list of the most expensive housing markets with their home values and the average household incomes required to afford them.

Palm Beach, Florida

Metro: Miami-Fort Laudendale-Pompano Beach
County: Palm Beach
2024 Home Value: $11,590,488
Average Household Income: $365,991

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Jupiter Island, Florida

Metro: Port St. Lucia
County: Martin
2024 Home Value: $10,151,033
Average Household Income: $497,536

Aspen, Colorado

Metro: Glenwood Springs
County: Pitkin
2024 Home Value: $9,020,371
Average Household Income: $188,344

Atherton, California

Metro: San Francisco-Oakland-Berkeley
County: San Mateo
2024 Home Value: $7,669,444
Average Household Income: $594,651

Hunts Point, Washington

Metro: Seattle-Tacoma-Bellevue
County: King
2024 Home Value: $7,378,584
Average Household Income: $609,224

Manalapan, Florida

Metro: Miami-Fort Lauderdale-Pompano Beach, FL
County: Palm Beach
2024 Home Value: $7,279,338
Average Household Income: $387,855

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Golden Beach, Florida

Metro: Miami-Fort Lauderdale-Pompano Beach
County: Miami-Dade
2024 Home Value: $7,231,144
Average Household Income: $406,247

Bal Harbour, Florida

Metro: Miami-Fort Lauderdale
County: Miami-Dade
2024 Home Value: $6,446,573
Average Household Income: $236,165

Sagaponack, New York

Metro: New York-Newark-Jersey City,
County: Suffolk
2024 Home Value: $6,267,352
Average Household Income: $316,703

Los Altos Hills, California

Metro: San Jose-Sunnyvale-Santa Clara, CA
County: Santa Clara
2024 Home Value: $5,963,679
Average Household Income: $460,098

Beverly Hills, California

Metro: Los Angeles-Long Beach-anaheim
County: Los Angeles
2024 Home Value: $5,923,071
Average Household Income: $231,793

Mountain Village, Colorado

Metro: N/A
County: San Miguel
2024 Home Value: $5,573,174
Average Household Income: $147,858

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Montecito, California

Metro: Santa Maria-Santa Barbara
County: Santa Barbara
2024 Home Value: $5,549,231
Average Household Income: $327,332

Lake Buena Vista, Florida

Metro: Orlando-Kissimmee-Sanford
County: Orange
2024 Home Value: $5,545,316
Average Household Income: $154,280

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Hidden Hills, California

Metro: Los Angeles-Long Beach-Anaheim
County: Los Angeles
2024 Home Value: $5,366,660
Average Household Income: $423,224

Hillsborough, California

Metro: San-Francisco-Oakland-Berkeley
County: San Mateo
2024 Home Value: $5,318,872
Average Household Income: $539,950

Gulf Stream, Florida

Metro: Miami-Fort Lauderdale-Pompano Beach
County: Palm Beach
2024 Home Value: $5,229,151
Average Household Income: $475,275

Sea Island, Georgia

Metro: Brunswick
County: Gynn
2024 Home Value: $5,136,362
Average Household Income: N/A

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Snowmass Village, Colorado

Metro: Glenwood Springs
County: Pitkin
2024 Home Value: $4,915,899
Average Household Income: $169,404

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Wilson, Wyoming

Metro: Jackson
County: Teton
2024 Home Value: $4,781,155
Average Household Income: $204,199

Los Altos, California

Metro: San Jose-Sunnyvale-Santa Clara
County: Santa Clara
2024 Home Value: $4,561,489
Average Household Income: $400,817

Belvedere, California

Metro: San Francisco-Oakland-Berkeley
County: Marin
2024 Home Value: $4,529,067
Average Household Income: $437,620

Medina, Washington

Metro: Seattle-Tacoma-Bellevue
County: King
2024 Home Value: $4,463,757
Average Household Income: $439,677

Monte Sereno, California

Metro: San Jose-Sunnyvale-Santa Clara
County: Santa Clara
2024 Home Value: $4,379,333
Average Household Income: $422,996

Telluride, Colorado

Metro: N/A
County: San Miguel
2024 Home Value: $4,379,223
Average Household Income: $115,161

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Rancho Santa Fe, California

Metro: San Diego-Chuka Vista-Carisbad
County: San Diego
2024 Home Value: $4,202,523
Average Household Income: $290,370

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Yarrow Point, Washington

Metro: Seattle-Tacoma-Bellevue
County: King
2024 Home Value: $4,286.562
Average Household Income: $421,181

Boca Grande, Florida

Metro: Cape Coral-Fort Myers
County: Lee
2024 Home Value: $4,284,322
Average Household Income: N/A

Del Mar, California

Metro: San Diego-Chula Vista-Carlsbad
County: San Diego
2024 Home Value: $4,202,523
Average Household Income: $290,370

Hanalei, Hawaii

Metro: Kapaa
County: Kauri
2024 Home Value: $4,110,782
Average Household Income: $120,725

Saratoga, California

Metro: San-Jose-Sunnyvale-Santa Clara
County: Santa Clara
2024 Home Value: $4,075,652
Average Household Income: $329,142

Malibu, California

Metro: Los Angeles-Long Beach-Anaheim
County: Los Angeles
2024 Home Value: $4,058,374
Average Household Income: $288,162

Water Mill, New York

Metro: New York-Newark-Jersey City
County: Suffolk
2024 Home Value: $4,034,573
Average Household Income: $295,228

Sullivan’s Island, South Carolina

Metro: Charleston-North Charleston
County: Charleston County
2024 Home Value: $4,034,466
Average Household Income: $291,546

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Portola Valley, California

Metro: San Francisco-Oakland-Berkeley
County: San Mateo
2024 Home Value: $4,030,239
Average Household Income: $462,935

Clyde Hill, Washington

Metro: Seattle-Tacoma-Bellevue
County: King
2024 Home Value: $4,022,060
Average Household Income: $483,738

Alex Potemkin / Getty Images/iStockphoto

Bridgehampton, New York

Metro: New York-Newark-Jersey City
County: Suffolk
2024 Home Value: $3,937,093
Average Household Income: $259,019

Ross, California

Metro: San Francisco-Oakland-Berkeley
County: Marin
2024 Home Value: $3,902,893
Average Household Income: $430,034

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Key Biscayne, Florida

Metro: Miami-Fort Lauderdale-Pompano Beach
County: Miami-Dade
2024 Home Value: $3,901,773
Average Household Income: $264,913

Ron and Patty Thomas / Getty Images/iStockphoto

Newport Beach, California

Metro: Los Angeles-Long Beach-Anaheim
County: Orange
2024 Home Value: $3,867,801
Average Household Income: $240,906

DenisTangneyJr / Getty Images/iStockphoto

Palo Alto, California

Metro: San Jose-Sunnyvale-Santa Clara
County: Santa Clara
2024 Home Value: $3,777,275
Average Household Income: $301,226

Deal, New Jersey

Metro: New York-Newark-Jersey City
County: Monmouth
2024 Home Value: $3,769,124
Average Household Income: $159,280

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Woodside, California

Metro: San Francisco-Oakland-Berkeley
County: San Mateo
2024 Home Value: $3,758,363
Average Household Income: $445,543

Jupiter Inlet Colony, Florida

Metro: Miami-Fort Lauderdale-Pompano Beach
County: Palm Beach
2024 Home Value: $3,726,535
Average Household Income: $265,348

Stinson Beach, California

Metro: San Francisco-Oakland-Berkeley
County: Marin
2024 Home Value: $3,643,662
Average Household Income: $101,575

Rolling Hills, California

Metro: Los Angeles-Long Beach-Anaheim
County: Los Angeles
2024 Home Value: $3,480,026
Average Household Income: $481,340

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Paradise Valley, Arizona

Metro: Phoenix-Mesa-Chandler
County: Maricopa
2024 Home Value: $3,456,447
Average Household Income: $385,643

Wainscott, New York

Metro: New York-Newark-Jersey City
County: Suffolk
2024 Home Value: $3,421,349
Average Household Income: $307,122

Stanford, California

Metro: San Jose-Sunnyvale-Santa Clara
County: Santa Clara
2024 Home Value: $3,411,288
Average Household Income: $155,195

Tiburon, California

Metro: San Francisco-Oakland-Berkeley
County: Marin
2024 Home Value: $3,380,832
Average Household Income: $312,322

Methodology: For this piece, GOBankingRates found the 50 cities with the richest real estate in terms of 2024 home values as sourced from Zillow’s April 2024 data. For the 50 selected cities, GOBankingRates also found the average household income for each city as sourced from the 2022 American Community Survey conducted by the U.S Census Bureau. All Data was collected and is up to date as of June 2024.

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This article originally appeared on GOBankingRates.com: Real Estate For The Rich: These Are The Most Expensive Housing Markets of 2024