Purchasing a home is a significant investment, and with record-high home prices, affordability is a major concern for buyers. The typical home value in the US was $368,720 in May, a 0.8% increase from the previous year. High mortgage rates are also making monthly payments more expensive, with the 30-year fixed mortgage rate at 6.52% as of June 11.
Most Expensive Cities in Texas
According to data from Zillow, the cities with the most expensive homes in Texas are primarily located in the Dallas-Fort Worth-Arlington, Austin-Round Rock-Georgetown, and San Antonio-New Braunfels metro areas. The top cities include those with typical home values ranging from $744,928 to over $3 million.
The Dallas-Fort Worth-Arlington metro area has the most cities with the highest home values, with 12 cities in the top 30. The Austin-Round Rock-Georgetown metro area follows with 8 cities, and the San Antonio-New Braunfels metro area has 6 cities in the top 30.
Original reporting: El Paso News (HLL/CB) — read the source article.
