Home prices in the country are going up. The latest housing data reveals that the median home price in the US has increased by 1.91%. However, there are housing markets across the US that are currently outperforming the national average. These are the real winners of the US housing market right now. To identify these areas, we analyzed home prices in major metro areas across the US. Our analysis compared home prices from April 2022 to March 2023 with those from April 2023 to March 2024. Based on this comparison, we have compiled a list of metro areas where home prices are surging and beating the national average.
Winners in the US Real Estate Market
Homeowners in Newark, Miami, Anaheim, Cincinnati, and Fort Lauderdale are among the winners in terms of median home price increases. Interestingly, three of the 20 metros listed below are located in Florida, and three are in California. Many of these metro areas experiencing an increase in median home prices are located in the Northeast and Mid-Atlantic.
Newark leads the pack with a 9.39% increase in median home price, followed by Miami and Anaheim. To put it in perspective, if a homeowner bought a house in Newark in the first quarter of 2023 and sold it in 2024, they would have made a net gain of approximately $50,032, while a Miami homeowner would have made a gain of $45,038.
Anaheim homeowners are the biggest winners in terms of absolute dollar appreciation. Their property appreciated by 8.5% in a year, which amounts to a whopping $91,125.
1. Newark, NJ metro area
- Median Home Price (April 2022 to March 2023): $482,552
- Median Home Price (April 2023 to March 2024): $532,583
- Percentage Change: 9.39%
- Net Loss or Gain: $50,032
The biggest winners in the US housing market are the homeowners in the Newark metro area. Home prices rose over 9%. This translates to a price appreciation of over $50,000. It’s amazing to think that someone who bought a home in Newark in 2023 has now passively earned $137 per day in equity!
2. Miami, FL metro area
- Median Home Price (April 2022 to March 2023): $475,017
- Median Home Price (April 2023 to March 2024): $520,054
- Percentage Change: 8.66%
- Net Loss or Gain: $45,038
The Miami metro area comes in second, experiencing an 8.66% increase in home prices, which equates to a price appreciation of $45,038 in a year!
3. Anaheim, CA metro area
- Median Home Price (April 2022 to March 2023): $980,917
- Median Home Price (April 2023 to March 2024): $1,072,042
- Percentage Change: 8.50%
- Net Loss or Gain: $91,125
Anaheim homeowners are the biggest winners in terms of absolute dollar gain. These homeowners have lucked out; their homes appreciated $91,125 in a year, and the median home price has increased 8.5%.
4. Cincinnati, OH metro area
- Median Home Price (April 2022 to March 2023): $253,946
- Median Home Price (April 2023 to March 2024): $275,200
- Percentage Change: 7.72%
- Net Loss or Gain: $21,254
The Cincinnati metro area comes in fourth, with a 7.72% rise in home prices from a median of $253,946 to $275,200 which equates to a price appreciation of $21,254.
5. Fort Lauderdale, FL metro area
- Median Home Price (April 2022 to March 2023): $392,842
- Median Home Price (April 2023 to March 2024): $424,375
- Percentage Change: 7.43%
- Net Loss or Gain: $31,533
Homeowners in the Fort Lauderdale metro area have something to celebrate! Their homes have increased by 7.43%, which equates to a price appreciation of $31,533!
6. San Diego, CA metro area
- Median Home Price (April 2022 to March 2023): $813,104
- Median Home Price (April 2023 to March 2024): $866,728
- Percentage Change: 6.19%
- Net Loss or Gain: $53,624
San Diego homeowners are among the biggest winners in terms of absolute dollar gain. The median home price has increased by 6.19%, which equates to a price appreciation of over $50,000 in a year!
7. Boston, MA metro area
- Median Home Price (April 2022 to March 2023): $651,471
- Median Home Price (April 2023 to March 2024): $692,550
- Percentage Change: 5.93%
- Net Loss or Gain: $41,079
The Boston metro area homeowners are one of the biggest winners of the US housing market, experiencing a 5.93% increase in home prices, which equates to a price appreciation of $41,079 in a year!
8. Wilmington, DE metro area
- Median Home Price (April 2022 to March 2023): $307,596
- Median Home Price (April 2023 to March 2024): $326,029
- Percentage Change: 5.65%
- Net Loss or Gain: $18,433
The Wilmington metro area came in next, where homeowners are experiencing a 5.65% increase in home prices, which equates to a price appreciation of $18,433 in a year!
9. Chicago, IL metro area
- Median Home Price (April 2022 to March 2023): $308,354
- Median Home Price (April 2023 to March 2024): $324,542
- Percentage Change: 4.99%
- Net Loss or Gain: $16,188
The Chicago metro area homeowners are one of the biggest winners in the midwest, experiencing a 4.99% increase in home prices, which equates to a price appreciation of $16,188 in a year!
10. Baltimore, MD metro area
- Median Home Price (April 2022 to March 2023): $348,283
- Median Home Price (April 2023 to March 2024): $365,485
- Percentage Change: 4.71%
- Net Loss or Gain: $17,203
The Baltimore metro area housing market is hot, homeowners are experiencing a 4.71% increase in home prices, which equates to a price appreciation of $17,203 in a year!
11. Kansas City, MO metro area
- Median Home Price (April 2022 to March 2023): $299,561
- Median Home Price (April 2023 to March 2024): $313,713
- Percentage Change: 4.51%
- Net Loss or Gain: $14,152
Kansas City metro area homeowners are experiencing a 4.51% increase in home prices, which equates to a price appreciation of $14,152 in a year!
12. Cleveland, OH metro area
- Median Home Price (April 2022 to March 2023): $199,758
- Median Home Price (April 2023 to March 2024): $207,658
- Percentage Change: 3.80%
- Net Loss or Gain: $7,900
The Cleveland metro area came in next, homeowners are experiencing a 3.8% increase in home prices, which equates to a price appreciation of $7,900 in a year!
13. Tucson, AZ metro area
- Median Home Price (April 2022 to March 2023): $351,307
- Median Home Price (April 2023 to March 2024): $365,045
- Percentage Change: 3.76%
- Net Loss or Gain: $13,738
The Tucson metro area home prices have increased by 3.76%, which equates to a price appreciation of $13,738 in a year!
14. Pittsburgh, PA metro area
- Median Home Price (April 2022 to March 2023): $213,644
- Median Home Price (April 2023 to March 2024): $221,763
- Percentage Change: 3.66%
- Net Loss or Gain: $8,118
Pittsburgh metro area home prices have increased by 3.66%, which is a price appreciation of $8,118 in a year!
15. Washington, DC metro area
- Median Home Price (April 2022 to March 2023): $518,391
- Median Home Price (April 2023 to March 2024): $537,788
- Percentage Change: 3.61%
- Net Loss or Gain: $19,397
The Washington, D.C. metro area came in next. Homeowners are experiencing a 3.61% increase in home prices, which equates to a price appreciation of over $19,000 in a year!
16. Flagstaff, AZ metro area
- Median Home Price (April 2022 to March 2023): $623,284
- Median Home Price (April 2023 to March 2024): $644,906
- Percentage Change: 3.35%
- Net Loss or Gain: $21,621
The Flagstaff metro area is the second Arizona metro area that made this list. Home prices have increased by 3.35%, which equates to a price appreciation of a whopping $21,621 in a year!
17. New York, NY metro area
- Median Home Price (April 2022 to March 2023): $677,245
- Median Home Price (April 2023 to March 2024): $700,200
- Percentage Change: 3.28%
- Net Loss or Gain: $22,955
The New York metro area came in next. Homeowners are experiencing a 3.21% increase in home prices, which equates to a price appreciation of $22,955 in a year!
18. Atlanta, GA metro area
- Median Home Price (April 2022 to March 2023): $377,700
- Median Home Price (April 2023 to March 2024): $388,983
- Percentage Change: 2.90%
- Net Loss or Gain: $11,283
The Atlanta metro area is one of the few places from that south that made this list. Home prices have increased by 2.9%, which equates to a price appreciation of a whopping $11,283 in a year!
19. Los Angeles, CA metro area
- Median Home Price (April 2022 to March 2023): $840,313
- Median Home Price (April 2023 to March 2024): $860,687
- Percentage Change: 2.37%
- Net Loss or Gain: $20,375
Another California metro area that made this list is the Los Angeles metro area. Home prices have increased by 2.37%, which equates to a price appreciation of a whopping $20,375 in a year!
20. Orlando, FL metro area
- Median Home Price (April 2022 to March 2023): $390,382
- Median Home Price (April 2023 to March 2024): $399,312
- Percentage Change: 2.24%
- Net Loss or Gain: $8,930
Orlando is another Florida metro area that made this list. Home prices in Orlando have increased by 2.24%, which equates to a price appreciation of $8,930 in a year!
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