Home Price Index
Home Price Index
The purpose of the Adkins 60-City Home Price Index is to provide an assessment of the home price level for a select group of cities throughout the U.S. For purposes of this assessment, home price levels were based on the relationship between the median household income level in each city and the median home price level in each city. With this information, the home price level for each city was evaluated by taking into account the assumption that no more than 28% of household income should be spent in order to repay the principal and interest costs for a mortgage loan, and the most recent month-ending national average mortgage loan interest rate for a 30-year fully-amortized fixed-rate mortgage loan. By taking into account each of these variables, the Adkins Residential Home Valuation Analyzer has accurately determined the price level of homes in each city. Please review the table below in order to evaluate a summary of our quarterly housing analysis.
| City Name | Median Household Income | Median Home Price | Home Price Level |
| Albuquerque, NM | $56,366 | $320,000 | Overpriced |
| Anchorage, AK | $86,654 | $380,000 | Overpriced |
| Atlanta, GA | $77,589 | $409,000 | Overpriced |
| Baltimore, MD | $54,652 | $207,000 | Overpriced |
| Billings, MT | $63,608 | $439,000 | Overpriced |
| Birmingham, AL | $39,403 | $183,000 | Overpriced |
| Boise, ID | $98,300 | $502,000 | Overpriced |
| Boston, MA | $81,744 | $838,000 | Overpriced |
| Bridgeport, CT | $50,597 | $289,000 | Overpriced |
| Buffalo, NY | $62,794 | $215,710 | Underpriced |
| Burlington, VT | $59,331 | $435,000 | Overpriced |
| Charleston, SC | $72,719 | $530,720 | Overpriced |
| Charlotte, NC | $88,004 | $414,000 | Overpriced |
| Cheyenne, WY | $76,426 | $411,000 | Overpriced |
| Chicago, IL | $65,781 | $325,000 | Overpriced |
| Cincinnati, OH | $70,818 | $255,000 | Overpriced |
| Cleveland, OH | $62,315 | $113,000 | Underpriced |
| Dallas, TX | $75,975 | $423,000 | Overpriced |
| Denver, CO | $111,840 | $570,000 | Overpriced |
| Des Moines, IA | $73,131 | $194,000 | Underpriced |
| Detroit, MI | $85,784 | $90,000 | Underpriced |
| Fargo, ND | $92,843 | $290,476 | Underpriced |
| Honolulu, HI | $78,819 | $555,000 | Overpriced |
| Houston, TX | $74,863 | $327,000 | Overpriced |
| Huntington, WV | $34,351 | $125,000 | Overpriced |
| Indianapolis, IN | $58,479 | $230,000 | Overpriced |
| Jackson, MS | $39,969 | $90,000 | Underpriced |
| Kansas City, MO | $62,175 | $227,994 | Overpriced |
| Las Vegas, NV | $66,320 | $412,000 | Overpriced |
| Little Rock, AR | $56,928 | $215,000 | Overpriced |
| Los Angeles, CA | $77,456 | $980,000 | Overpriced |
| Louisville, KY | $44,269 | $230,000 | Overpriced |
| Manchaster, NH | $66,929 | $383,709 | Overpriced |
| Memphis, TN | $43,981 | $170,000 | Overpriced |
| Miami, FL | $61,252 | $569,426 | Overpriced |
| Milwaukee, WI | $46,637 | $199,000 | Overpriced |
| Minneapolis, MN | $69,397 | $335,000 | Overpriced |
| Nashville, TN | $72,725 | $405,000 | Overpriced |
| New Orleans, LA | $73,344 | $308,000 | Overpriced |
| New York City, NY | $67,046 | $764,000 | Overpriced |
| Newark, NJ | $41,335 | $475,000 | Overpriced |
| Oklahoma City, OK | $59,214 | $250,000 | Overpriced |
| Omaha, NE | $65,359 | $265,000 | Overpriced |
| Philadelphia, PA | $52,899 | $216,287 | Overpriced |
| Phoenix, AZ | $68,435 | $440,000 | Overpriced |
| Pittsburgh, PA | $66,609 | $217,000 | Underpriced |
| Portland, ME | $69,046 | $682,000 | Overpriced |
| Portland, OR | $84,826 | $549,000 | Overpriced |
| Providence, RI | $64,184 | $469,000 | Overpriced |
| Richmond, VA | $58,988 | $340,000 | Overpriced |
| Saint Louis, MO | $70,189 | $242,200 | Underpriced |
| Salt Lake City, UT | $81,307 | $502,000 | Overpriced |
| San Diego, CA | $93,042 | $915,000 | Overpriced |
| San Francisco, CA | $119,136 | $1,410,000 | Overpriced |
| Seattle, WA | $110,781 | $812,000 | Overpriced |
| Sioux Falls, SD | $66,761 | $315,000 | Overpriced |
| Tampa, FL | $79,745 | $400,000 | Overpriced |
| Washington, DC | $110,355 | $670,000 | Overpriced |
| Wichita, KS | $61,131 | $215,000 | Underpriced |
| Wilmington, DE | $88,829 | $440,000 | Overpriced |
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