Value of a Middle Class Home

Comparing the value of housing in various areas is more difficult than it looks. The house that corresponds to the median or average price may be quite different between markets. Here is an attempt to compare a "standard" middle class home in differing areas.

The home specifications are:

             
Area:   2200 square feet   Bedrooms   4
Rooms   8   Full Baths   2
Location   Suburban, Nice   Half Bath   1

Runzheimer International has used this specification for some years to evaluate the cost of housing in relocation situations. Thus one can find some historical data for homes meeting this specification. This present set is roughly mid 2006 and was published by CNN/Money.

 

Aberdeen South Dakota $171,625
Acton Massachusetts $637,250
Akron Ohio $192,500
Albany New York $365,857
Albuquerque New Mexico $279,499
Alexandria Virginia $805,000
Allentown Pennsylvania $313,000
Amarillo Texas $194,167
Anchorage Alaska $303,750
Ann Arbor Michigan $324,500
Annapolis Maryland $600,750
Appleton Wisconsin $185,150
Arlington Texas $140,975
Athens Georgia $221,500
Atlanta Georgia $322,210
Augusta Maine $156,125
Aurora Illinois $310,267
Austin Texas $219,954
Bakersfield California $411,500
Baltimore Maryland $536,250
Barrington Illinois $603,750
Basking Ridge New Jersey $660,000
Baton Rouge Louisiana $243,150
Beckley West Virginia $152,000
Bel Air Maryland $382,500
Bellevue Washington $658,000
Bend Oregon $482,750
Bethesda Maryland $879,100
Beverly Hills California $1,800,000
Billings Montana $150,141
Binghamton New York $171,135
Bismarck North Dakota $186,010
Bloomington Illinois $222,250
Boca Raton Florida $623,750
Boise Idaho $250,925
Boston Massachusetts $1,275,000
Boulder Colorado $536,000
Bozeman Montana $332,250
Bridgewater New Jersey $613,300
Buffalo New York $235,000
Burlington Vermont $371,725
Cadillac Michigan $151,530
Canton Ohio $148,333
Cape Cod Massachusetts $628,750
Carol Stream Illinois $296,334
Champaign Illinois $229,650
Charleston West Virginia $187,750
Charleston South Carolina $361,250
Charlotte North Carolina $228,500
Chattanooga Tennessee $232,817
Cherry Hill New Jersey $289,855
Cheyenne Wyoming $213,166
Chicago Illinois $916,667
Cincinnati Ohio $248,853
Clearwater Florida $386,250
Cleveland Ohio $216,000
Clinton New Jersey $490,000
Coeur d' Alene Idaho $248,853
College Station Texas $201,775
Colorado Springs Colorado $217,000
Columbia South Carolina $191,666
Columbia Maryland $462,975
Columbus Georgia $250,600
Columbus Ohio $251,364
Conshohocken Pennsylvania $396,125
Corpus Christi Texas $189,300
Dallas Texas $288,278
Dalton Georgia $189,225
Danbury Connecticut $626,000
Davis California $657,000
Dayton Ohio $175,250
Daytona Beach Florida $354,898
Deerfield Illinois $596,200
Denver Colorado $356,619
Des Moines Iowa $249,907
Detroit Michigan $254,310
Doylestown Pennsylvania $456,225
Dubuque Iowa $193,625
Easton Maryland $402,000
Eau Claire Wisconsin $161,531
Edina Minnesota $438,662
Edison New Jersey $504,333
El Paso Texas $209,100
Elgin Illinois $292,892
Encinitas California $778,275
Erie Pennsylvania $188,975
Eugene Oregon $329,075
Evansville Indiana $175,437
Fairfield Connecticut $667,500
Fargo North Dakota $211,500
Fayetteville North Carolina $200,000
Fayetteville Arkansas $248,012
Flagstaff Arizona $488,467
Florence Kentucky $210,967
Flossmoor Illinois $304,633
Fond du lac Wisconsin $224,675
Fort Collins Colorado $271,745
Fort Smith Arkansas $179,225
Fort Wayne Indiana $175,038
Fort Worth Texas $151,250
Framingham Massachusetts $530,000
Frederick Maryland $438,750
Fremont California $983,050
Fresno California $440,000
Ft. Lauderdale Florida $502,475
Ft. Myers Florida $409,534
Gainesville Florida $295,050
Galena Illinois $211,250
Grand Blanc Michigan $218,873
Grand Rapids Michigan $195,333
Grass Valley California $477,428
Grayling Michigan $144,250
Great Falls Montana $159,000
Green Bay Wisconsin $266,150
Greensboro North Carolina $195,905
Greenville South Carolina $200,725
Greenwich Connecticut $1,403,750
Gulfport/ Biloxi Mississippi $215,900
Hagerstown Maryland $332,750
Hanover New Hampshire $510,000
Harrisburg Pennsylvania $283,270
Harrison Ohio $213,000
Helena Montana $196,675
Highlands Ranch Colorado $385,750
Honolulu Hawaii $858,750
Houston Texas $155,304
Huntsville Alabama $204,300
Indian River Michigan $245,125
Indianapolis Indiana $182,130
Iowa City Iowa $208,691
Irvine California $905,000
Jackson Michigan $217,992
Jackson Mississippi $235,750
Jacksonville Florida $315,766
Joliet Illinois $234,250
Juneau Alaska $472,500
Kalamazoo Michigan $228,450
Kalispell Montana $193,572
Kansas City Missouri $200,000
Katonah New York $912,000
Kearney Nebraska $212,250
Key West Florida $872,250
Kihei, Maui Hawaii $935,000
Killeen Texas $140,310
Knoxville Tennessee $184,933
La Jolla California $1,762,500
Lafayette Louisiana $241,600
Lake Minnetonka Minnesota $405,200
Lake Orion Michigan $258,000
Lancaster Pennsylvania $271,450
Lansing Michigan $247,450
Las Vegas Nevada $361,250
Lawrence Kansas $247,450
Leavenworth Kansas $217,075
Leesburg Virginia $598,750
Lewiston Maine $219,250
Lexington Kentucky $213,779
Lexington Massachusetts $760,000
Little Rock Arkansas $198,750
Long Beach California $1,017,500
Long Island New York $667,723
Louisville Kentucky $250,043
Lubbock Texas $158,225
Lynchburg Virginia $262,325
Macon Georgia $166,300
Madison New Jersey $809,000
Madison Wisconsin $279,500
Mankato Minnesota $259,225
Marlboro New Jersey $508,750
Medford Oregon $447,427
Media Pennsylvania $367,250
Memphis Tennessee $193,875
Mesa Arizona $253,600
Miami Florida $690,855
Middletown New York $402,333
Midland Michigan $213,552
Milford Connecticut $451,250
Milwaukee Wisconsin $331,725
Minneapolis Minnesota $421,433
Minot North Dakota $132,333
Mission Viejo California $856,750
Mobile Alabama $216,109
Modesto California $492,000
Montclair New Jersey $511,000
Monterey Pen. California $926,250
Montpelier Vermont $310,000
Mt. Laurel New Jersey $359,167
Mt. Pleasant Michigan $198,000
Munster Indiana $323,900
Myrtle Beach South Carolina $253,938
Napa California $763,250
Naperville Illinois $349,870
Naples Florida $590,555
Nashua New Hampshire $349,125
Nashville Tennessee $226,000
New Orleans Louisianna $311,821
Newport Beach California $1,566,250
North Platte Nebraska $187,750
Northampton Massachusetts $431,000
Oakland California $1,100,000
Oklahoma City Oklahoma $193,500
Old Lyme Connecticut $570,000
Orland Park Illinois $365,000
Orlando Florida $383,300
Overland Park Kansas $201,250
Palm Desert California $526,500
Palo Alto California $1,652,042
Palos Verdes California $1,337,000
Panama City Florida $358,333
Parkersburg West Virginia $162,667
Pasadena California $931,228
Pensacola Florida $226,703
Peoria Illinois $225,750
Petoskey Michigan $263,000
Philadelphia Pennsylvania $518,700
Phoenix Arizona $307,966
Pittsburgh Pennsylvania $257,712
Plano Texas $193,059
Pleasanton California $894,660
Port Charlotte Florida $315,746
Port Huron Michigan $222,500
Portland Maine $375,500
Portland Oregon $357,233
Portsmouth New Hampshire $308,000
Princeton Junction New Jersey $621,250
Providence Rhode Island $565,000
Provo Utah $320,000
Puerto Rico Puerto Rico $316,250
Queens New York $726,000
Raleigh North Carolina $218,575
Rancho Bernardo California $685,000
Rapid City South Dakota $199,600
Reading Pennsylvania $249,995
Reno Nevada $436,750
Richmond Virginia $346,850
Ridgewood New Jersey $1,009,750
Riverside California $485,000
Roanoke/Blacksburg Virginia $275,210
Rochester New York $259,333
Rochester Minnesota $218,084
Rockford Illinois $186,626
Rutland Vermont $287,500
Rye New York $876,875
Sacramento California $448,250
Salem Oregon $304,000
Salt Lake City Utah $341,250
San Antonio Texas $254,638
San Diego California $642,250
San Francisco California $1,363,750
San Jose California $1,410,662
San Mateo California $1,366,139
San Rafael California $991,667
Santa Barbara California $1,700,000
Santa Clarita California $654,250
Santa Cruz California $933,333
Santa Fe New Mexico $593,750
Santa Maria California $605,000
Santa Monica California $1,766,666
Santa Rosa California $725,250
Sarasota Florida $487,225
Savannah Georgia $271,000
Schaumburg Illinois $338,000
Schererville Indiana $239,750
Scottsdale Arizona $502,800
Seattle Washington $514,666
Shreveport Louisiana $218,641
Sioux City Iowa $184,000
Sioux Falls South Dakota $170,775
South Bend Indiana $181,066
Sparta New Jersey $528,454
Spokane Washington $271,250
Springfield Massachusetts $360,800
Springfield Illinois $215,500
Springfield Missouri $188,318
St. Cloud Minnesota $269,100
St. Louis Missouri $255,000
St. Paul Minnesota $409,117
Staten Island New York $597,500
Stroudsburg Pennsylvania $226,190
Syracuse New York $198,293
Tacoma Washington $358,750
Tallahassee Florida $332,342
Tampa Florida $393,750
Taunton Massachusetts $437,475
Thousand Oaks California $1,099,000
Toledo Ohio $173,700
Toms River New Jersey $445,000
Topeka Kansas $148,050
Towson Maryland $419,850
Traverse City Michigan $236,500
Tri-Cities Washington $221,850
Tucson Arizona $263,400
Tulsa Oklahoma $148,575
Tupelo Mississippi $178,168
Valpariso Indiana $227,900
Vienna Virginia $754,372
Virginia Beach Virginia $355,949
Waldorf Maryland $383,576
Walnut Creek California $879,725
Warren New Jersey $745,000
Washington District of Columbia $791,750
Wausau Wisconsin $199,370
Wayne New Jersey $519,750
Wellesley Massachusetts $1,182,500
West Chester Pennsylvania $381,250
West Hartford Connecticut $393,000
West Palm Beach Florida $507,750
Westfield New Jersey $769,375
Westminster Maryland $396,640
Wichita Kansas $182,939
Wilmington Delaware $384,000
Wilmington North Carolina $335,725
Winchester Virginia $346,250
Winston-Salem North Carolina $214,143
Woodbridge Virginia $506,712
Worcester Massachusetts $308,833
York Pennsylvania $310,667
Copyright 2006 DonohueTeam

 

Las Vegas Values

It would of course be of interest to see how Las Vegas neighborhoods compare to the $361,000 for the overall community. Here is a table of the newer neighborhoods.

Area of Las Vegas   Price
     
Northern North Las Vegas   $352,117
Far Northwest   $354,975
South of Strip   $392,464
Desert Shores and nearby   $392,783
Summerlin North   $427,338
Near Northwest   $382,298
Summerlin South   $394,066
Southwest   $395,002
Henderson East   $381,134
Henderson West   $373,389
Green Valley/Anthem   $472,469
Boulder City   $519,166
Copyright 2006 DonohueTeam