Staten Island real estate prices among the highest in the country, according to data
STATEN ISLAND, NY – Those looking to buy a new home on Staten Island can expect to pay some of the highest prices in the country, according to a new report.
Earlier this week, Porch released a new report identifying the U.S. counties with the highest and lowest median home prices, giving potential homebuyers a glimpse of the home price comparison within their range. community compared to the rest of the country.
“The forces of high demand and limited supply have resulted in dramatic price increases in the housing market since the start of the pandemic. While prices have been rising steadily since the end of the last recession, the growth rate has been much higher since the start of 2020, ”said Adriana Lopez de Porch.
The median home price for the entire United States is currently $ 303,288.
This number has grown rapidly in recent years, increasing 17.7% in the past year and 45.6% in the past five years.
Staten Island has not been immune to the nationwide price hike, with the borough’s median home price rising 5.9% in the past year and 31.2% in the last year. over the past five years.
The analysis grouped counties into small (200,000 to 349,999), medium (350,000 to 749,999) and large (750,000 or more) categories based on population.
Richmond County’s median home price of $ 597,729 was the 10th highest of all mid-size counties in the country and the highest of all mid-sized counties in New York State.
Hinds County, Missouri was found to have the lowest median home price in the country at $ 112,536, while San Mateo County, Calif., Was found to have the highest price. at $ 1,593,013.