Buying a House in These 15 Cities Has Gotten a Lot More Expensive Recently

Home prices have risen by 50% over the past 10 years in some cities. The return of home prices to what they were about a decade ago echoes the real estate bubble burst that came before The Great Recession back in 2007. Could there be another housing bubble? According to data from Realtor.com, this doesn’t seem to be a case of history repeating itself.

Due to factors such as tighter lending standards, the rise in home prices is being driven by strong supply and demand. Realtor.com research also notes other factors such as low inventory levels, tighter lending standards, and significant job and household growth.

Here are 15 cities where buying a house has gotten a lot more expensive recently.

15. Columbus, Ohio

The Scioto river reflects Downtown Columbus Ohio

Rising employment in Columbus has made housing prices surge.| David Rigg/iStock/Getty Images

  • Change in home prices (from 2006 to 2016): 18.5%

The median home price in Columbus, Ohio, was $146,829 in 2006. About 9.3% of the sales were foreclosures. Ten years later, the median home price in this city area is now $173,999. About 6.0% of sales were foreclosures. Today, more people are employed in Columbus, Ohio. In 2006, the unemployment rate was 4.9%. In 2016, that number dropped to 4.1%.

NextOklahoma City 

14. Oklahoma City, Oklahoma

oklahoma city

Despite rising unemployment, houses are more expensive in Oklahoma City. | Saul Loeb/AFP/Getty Images

  • Change in home prices (from 2006 to 2016): 21.4%

The median home price in Oklahoma City, Oklahoma was $124,083 in 2006. About 3.5% of the sales were foreclosures. Ten years later, the median home price in this city is now $150,657. About 6.7% of sales were foreclosures. Today, fewer people are employed in Oklahoma City, Oklahoma. In 2006, the unemployment rate was 4.0%. In 2016, that number rose to 4.3%.

NextPortland, Oregon 

13.  Portland-Vancouver-Hillsboro, Oregon-Washington metro area

Portland

Homeowners are flocking to the Portland area. | iStock/Getty Images

  • Change in home prices (from 2006 to 2016): 24.7%

The median home price in the Portland-Vancouver-Hillsboro, Oregon-Washington metro area was $280,009 in 2006. About 0.9% of the sales were foreclosures. Ten years later, the median home price in this metro area is now $349,100. About 4.6% of sales were foreclosures. Today, more people are employed in the Portland-Vancouver-Hillsboro, Oregon-Washington metro area. In 2006, the unemployment rate was 5.1%. In 2016, that number dropped to 4.7%.

NextNashville

12. Nashville-Davidson-Murfreesboro-Franklin, Tennessee metro area

downtown Nashville, Tennessee

A strong economy is bringing people to Nashville, Tennessee. | Sean Pavone/iStock/Getty Images

  • Change in home prices (from 2006 to 2016): 26.6%

The median home price in the Nashville-Davidson–Murfreesboro–Franklin, Tennessee metro area was $176,298 in 2006. About 4.5% of the sales were foreclosures. Ten years later, the median home price in this metro area is now $223,241. About 4.3% of sales were foreclosures. Today, more people are employed in the Nashville-Davidson–Murfreesboro–Franklin, Tennessee metro area. In 2006, the unemployment rate was 4.3%. In 2016, that number dropped to 3.8%.

Next: San Jose 

 11. San Jose-Sunnyvale-Santa Clara, California

view of the historic Plaza de Cesar Chavez in San Jose, CA.

Low unemployment numbers in San Jose have led to rising property values. | iStock.com/GerardoBrucker

  • Change in home prices (from 2006 to 2016): 31.5%

The median home price in the San Jose-Sunnyvale-Santa Clara, California metro area was $771,633 in 2006. About 0.5% of the sales were foreclosures. Ten years later, the median home price in this metro area is now $1,014,864. About 0.7% of sales were foreclosures. Today, more people are employed in the San Jose-Sunnyvale-Santa Clara, California metro area. In 2006, the unemployment rate was 4.6%. In 2016, that number dropped to 3.9%.

Next: Raleigh

10. Raleigh, North Carolina

Raleigh Skyline in North Carolina

Housing prices in Raleigh, North Carolina are soaring. | iStock/Getty Images

  • Change in home prices (from 2006 to 2016): 33.2%

The median home price in Raleigh, North Carolina was $185,182 in 2006. About 2.0% of the sales were foreclosures. Ten years later, the median home price in this area is now $246,614. About 1.6% of sales were foreclosures. Unfortunately, the unemployment rate has risen in Raleigh, North Carolina. In 2006, the unemployment rate was 3.7%. In 2016, that number rose to 4.4%.

Next: Indianapolis 

9. Indianapolis-Carmel-Anderson, Indiana metro area

Downtown Indianapolis skyline at twilight

Downtown Indianapolis skyline at twilight. | iStock / Getty Images Plus

Change in home prices (from 2006 to 2016): 33.4%

The median home price in the Indianapolis-Carmel-Anderson, Indiana metro area was $118,969 in 2006. About 8.5% of the sales were foreclosures. Ten years later, the median home price in this metro area is now $158,749. About 4.0% of sales were foreclosures. Today, more people are employed in the Indianapolis-Carmel-Anderson, Indiana metro area. In 2006, the unemployment rate was 4.6%. In 2016, that number dropped to 4.1%.

NextSalt Lake City 

8. Salt Lake City, Utah

A strong economy is bringing home buyers to Salt Lake City. | GEORGE FREY/AFP/Getty Images

  • Change in home prices (from 2006 to 2016): 33.6%

The median home price in Salt Lake City, Utah was $203,766 in 2006. About 2.3% of the sales were foreclosures. Ten years later, the median home price in this metro area is now $272,136. About 2.1% of sales were foreclosures. Today, fewer people are employed in Salt Lake City, Utah. In 2006, the unemployment rate was 2.9%. In 2016, that number rose to 3.2%.

NextBuffalo

 7. Buffalo-Cheektowaga-Niagara Falls, New York metro area

A view of downtown Buffalo from Ft. Erie near the Peace Bridge

Despite a struggling economy, it’s getting more expensive to live in Buffalo.| Miklmar/iStock/Getty Images

  • Change in home prices (from 2006 to 2016): 33.6%

The median home price in the Buffalo-Cheektowaga-Niagara Falls, New York metro area was $98,397 in 2006. About 7.4% of the sales were foreclosures. Ten years later, the median home price in this metro area is now $131,477. About 7% of sales were foreclosures. Today, fewer people are employed in the Buffalo-Cheektowaga-Niagara Falls, New York metro area. In 2006, the unemployment rate was 5.0%. In 2016, that number rose to 5.1%.

NextCharlotte  

6. Charlotte-Concord-Gastonia, North Carolina-South Carolina metro area

Charlotte, North Carolina, USA

Home buyers are flocking to Charlotte, North Carolina. | Sean Pavone/iStock/Getty Images

  • Change in home prices (from 2006 to 2016): 41.9%

The median home price in the Charlotte-Concord-Gastonia, North Carolina-South Carolina metro area was $145,300 in 2006. About 4.0% of the sales were foreclosures. Ten years later, the median home price in this metro area is now $206,187. About 4.2% of sales were foreclosures. Today, more people are employed in the Charlotte-Concord-Gastonia, North Carolina-South Carolina metro area. In 2006, the unemployment rate was 5.0%. In 2016, that number dropped to 4.8%.

Next: Houston  

5. Houston-The Woodlands-Sugar Land, Texas

Housing is getting increasingly expensive in Houston. | Sean Pavone/iStock/Getty Images

  • Change in home prices (from 2006 to 2016): 45.5%

The median home price in the Houston-The Woodlands-Sugar Land, Texas metro area was $149,104 in 2006. About 4.1% of the sales were foreclosures. Ten years later, the median home price in this metro area is now $216,988. About 3.1% of sales were foreclosures. Today, fewer people are employed in the Houston-The Woodlands-Sugar Land, Texas metro area. In 2006, the unemployment rate was 5.0%. In 2016, that number rose to 5.3%.

NextSan Antonio 

 4. San Antonio-New Braunfels, Texas metro area

San Antonio, Texas

Housing prices are on the rise in San Antonio, Texas. | Sean Pavone/iStock/Getty Images

  • Change in home prices (from 2006 to 2016): 45.9%

The median home price in the San Antonio-New Braunfels, Texas metro area was $141,305 in 2006. About 3.2% of the sales were foreclosures. Ten years later, the median home price in this metro area is now $206,166. About 3.3% of sales were foreclosures. Today, more people are employed in the San Antonio-New Braunfels, Texas metro area. In 2006, the unemployment rate was 4.6%. In 2016, that number decreased to 3.8%.

NextDallas 

3. Dallas-Fort Worth-Arlington, Texas metro area

The housing market has become a seller’s market in Dallas. | Ronald Martinez/Getty Images

  • Change in home prices (from 2006 to 2016): 51.6%

The median home price in the Dallas-Fort Worth-Arlington, Texas metro area was $149,003 in 2006. About 7.4% of the sales were foreclosures. Ten years later, the median home price in this metro area is now $225,914. About 3.4% of sales were foreclosures. Today, more people are employed in the Dallas-Fort Worth-Arlington, Texas metro area. In 2006, the unemployment rate was 4.8%. In 2016, that number dropped to 3.9%.

NextDenver  

2. Denver-Aurora-Lakewood, Colorado metro area

denver

Denver is experiencing surging home prices. | Kevork Djansezian/Getty Images

  • Change in home prices (from 2006 to 2016): 53.5%

The median home price in the Denver-Aurora-Lakewood, Colorado metro area was $249,589 in 2006. About 8.3% of the sales were foreclosures. Ten years later, the median home price in this metro area is now $383,137. About 1.4% of sales were foreclosures. Today, more people are employed in the Denver-Aurora-Lakewood, Colorado metro area. In 2006, the unemployment rate was 4.3%. In 2016, that number dropped to 3.1%.

NextAustin  

1. Austin-Round Rock, Texas metro area

Austin Texas Reflections Lady Bird Lake

Austin is experience a unique surge in housing prices. | RoschetzkyIstockPhoto/iStock/Getty Images

  • Change in home prices (from 2006 to 2016): 62.9%

The median home price in the Austin-Round Rock, Texas metro area was $173,510 in 2006. About 4.7% of the sales were foreclosures. Ten years later, the median home price in this metro area is now $282,625. About 1.6% of sales were foreclosures. Today, more people are employed in the Austin-Round Rock, Texas metro area. In 2006, the unemployment rate was 4.1%. In 2016, that number significantly dropped to 1.6%.

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