Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

Your Money > Your Home
Most expensive housing markets
How much for 2,200 square feet and four bedrooms? You'll be surprised by just how much that varies.
October 24, 2003: 1:30 PM EDT
By Sarah Max, CNN/Money Staff Writer

BEND, Ore. (CNN/Money) - Most homeowners know that how much house you'll get for your money depends entirely on where you live.

Most expensive markets
La Jolla, Calif$1,362,375
Palo Alto, Calif.$1,179,000
Greenwich, Conn.$1,170,600
Beverly Hills, Calif.$1,097,250
San Francisco, Calif.$971,750
New Canaan, Conn.$963,750
Wellesley, Mass.$959,048
Newport Beach, Calif.$916,000
Kailua Kona, Hawaii$906,250
Manhattan Beach, Calif.$904,500
Source:Coldwell Banker

But Coldwell Banker's annual Home Price Comparison Index (HPCI), released Wednesday, shows just how huge this affordability gap can be.

The price of a 2,200-square-foot house with 4 bedrooms, 2 bathrooms, a family room and two-car garage in a neighborhood "typical for corporate middle-management transferees" varies by more than $1 million.

In Binghamton, N.Y. the most affordable market in the index the average sale price for this house is just $121,400. (Coldwell Banker looked at more than 300 markets -- see how your home town stacks up.)

Least expensive markets
Binghamton, NY$121,400
Killeen, Tex.$127,175
Minot, ND$129,075
Oklahoma City, Okla.$132,670
Topeka, Kan.*$136,266
Tulsa, Okla.$136,625
Aberdeen, SD$138,000
Billings, Mont.$138,725
Sioux City, Iowa$139,500
Parkersburg, WV$141,250
* includes Shawnee County
Source:Coldwell Banker

Across the country in La Jolla, Calif., that same house will cost $1,362,375, or more than 10 times as much.

Broad sample

The index looked at similar houses in 317 markets in the United States and 25 markets in Canada.

The national average for this 2,200-square-foot house is $318,172, up 9 percent from 2002.

Real Estate Resources
Mortgage Application Center
How much house can you afford?
Find local homes for sale
What's your home worth?

California claimed six of the 10 most expensive markets, with La Jolla topping the list, followed by Palo Alto.

Leafy Greenwich, Conn., is the third most expensive market, according to the index, with a 2,200-square-foot home averaging $1,170,600.

Other affordable markets include: Killeen, Texas, Minot, N.D., and Oklahoma City, where the average sale price for this same size house is less than $130,000.

The dust bowl never looked so good.  Top of page

  More on YOUR HOME
Your Home: Bracing for higher rates
Refinancing demand lags again
A rose is (not) a rose
Stock market's terrible 2016 start just got worse
Stocks: 6 things to know before the open
Don't expect oil prices to rise soon, IEA warns

graphic graphic