- Coldwell Banker ranked 2,168 metros according to affordability for four-bedroom, two-bathroom homes.
- The most expensive place to purchase this type of home is in Saratoga, California, where the average price for a home is $2,453,718.
- The cheapest place to purchase this type of home is Detroit, where average price for a home is $64,110.
- The top 11 places on the list are in California
Hakone Gardens home in Saratoga, California/Flickr user tpavel
Median home price can kick rocks: Coldwell Banker just ranked over 2,000 metro areas in terms of their average price for similar four-bedroom, two-bathroom houses.
Looking at home prices in 2,168 markets, Coldwell Banker detemined that Saratoga, California, had the highest average price for four-bedroom, two-bathroom homes.
On the opposite end of that spectrum sits Detroit. The difference in price between homes in the markets? A mere $2,389,608.
[Tweet “You can buy 38 homes in Detroit for the price of one in Saratoga, California”]
The average price for the specified category of homes Coldwell Banker focused on in Saratoga is $2,453,718, while Detroit’s is only $64,110. This means that instead of buying one average home in Saratoga, you could purchase 38 in Detroit.
And there’s a lot in between these two extreme markets.
New York
The most expensive average home price in New York State is in Rye Brook (43 overall), according to Coldwell Banker. Homes in this area average $912,226. The most affordable out of the 160 markets examined is in Jamestown, where homes cost an average $88,891. Both Brooklyn (61 overall) and Staten Island (104) ranked in the top ten, with the average prices of $797,680 and $709,458, respectively. Manhattan was not included in the report.
Maryland
Bethesda (77 overall) and Annapolis (206 overall), two cities in close proximity to Washington D.C., sit in the no. 1 and no. 2 spots in Maryland. The average price for a four-bedroom, two-bathroom home in Bethesda is $766,090, the report says, while Annapolis homes come in a bit more affordable, at $582,575. The most affordable place to purchase a four-bedroom, two-bathroom home in Maryland is in Cumberland, where the average price is $155,082.
Baltimore (1,679 overall) sits in the second to last spot on the list for Maryland. The average price for homes in Baltimore is $208,361. Washington D.C. sits at the no. 151 spot on the national list. The average price for a four-bedroom, two-bathroom home in D.C. is $640,981.
California
Although Saratoga has already been mentioned as the most expensive place to purchase a four-bedroom, two-bathroom home, it should be noted that the top 11 places (and 12 of the top 15) on the national list are all located in California. San Francisco’s (7 overall) average price is $1,672,100. In Los Angeles (186 overall), the same kind of home has an average price of $602,366.
Accoridng to the report, the cheapest place to purchase this kind of home is California City, where four-bedrooms homes average $134,423.
Texas
Austin (519 overall) is the place to be in Texas for music and partying, but it’s also the most expensive place to purchase a four-bedroom home, with and average of $414,563. Houston (1,139 overall), on the other hand, comes in a bit cheaper, the report says, with an average of $274,061. But the cheapest place to buy in Texas is in Kingsville, where you can get a four-bedroom home for $139,841.
Illinois
Remember that film “Home Alone?” Well, the house in that movie sold a few years ago for $1.585 million, and it was located in Winnetka. Want to know something else about Winnetka? It’s home to the most expensive four-bedroom, two-bathroom homes in Illinois, the report says. Homes here sell for an average price of $840,355, good for no. 56 on the national list.
Chicago, on the other hand, is split up based on Coldwell Banker’s metrics. West Chicago’s (791 overall) four-bed homes average $337,750, while Chicago proper (1,080 overall) has an average price of $282,975.
The most affordable market in Illinois is in Park Forest, according to the report. You can get a four-bedroom home here for $78,392.
Florida
Florida might be one of the fastest moving condo markets in the country, but that has a lot to do with Miami’s exploding skyline. Key Largo (108 overall) happens to be the most expensive place to purchase four-bedroom homes in Florida, Coldwell Banker says, with an average of $705,900 per.
Miami (574 overall) comes a little later down the list (condos aren’t included in this data pool). Its four-bedroom homes have an average price of $393,824.
