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Cities with the most expensive homes in the Birmingham metro area
Purchasing a home is one of the most important investments there is. More than a place to live, homeownership is an asset with the potential to tremendously rise in value. But with home prices reaching record heights, affordability plays a huge role for buyers.
The typical home value in the United States was $360,974 in June, 3.2% higher than the year before.
High mortgage rates are also making monthly payments more expensive; as of Aug. 22, the
sits at 6.46%.
Although home prices have inflated all across the U.S., there are some cities that command a higher price tag than others. Location, size, age, and condition are all contributing factors to home value.
Stacker compiled a list of cities with the most expensive homes in the Birmingham metro area using data from Zillow . Charts show the monthly typical home value since January 2018. Data was available for 78 cities and towns.