STATEN ISLAND, N.Y. — These trying to purchase a brand new house on Staten Island can anticipate to pay among the highest costs within the nation, in keeping with a brand new report.
Earlier this week, Porch launched a new report figuring out the U.S. counties with the best and lowest median house costs, offering potential home consumers with perception into how actual property costs inside their neighborhood stack up in opposition to the remainder of the nation.
“The forces of excessive demand and restricted provide have produced dramatic worth will increase within the housing market for the reason that begin of the pandemic. Whereas costs had been climbing steadily for the reason that finish of the final recession, the speed of development has been a lot increased for the reason that starting of 2020,” mentioned Adriana Lopez of Porch.
The median house worth for the U.S. as a complete is at the moment $303,288.
That quantity has grown quickly in recent times, having elevated 17.7% over the previous yr and 45.6% over the previous 5 years.
Staten Island has not been exempt from the rising costs nationwide, with the median worth of a house within the borough having elevated 5.9% over the previous yr and 31.2% over the previous 5 years.
The evaluation grouped counties into small (200,000–349,999), midsize (350,000–749,999), and huge (750,000 or extra) classes primarily based on inhabitants.
Richmond County’s median house worth of $597,729 was the tenth highest of any midsize county within the nation, and the best of any midsize county within the state of New York.
Hinds County, Missouri was discovered to have the bottom median house worth within the nation at $112,536, whereas San Mateo County, California was discovered to have the best at $1,593,013.
