--- title: 10 U.S. Cities Where Home Prices Have Doubled the Fastest description: In more than half of the 100 largest U.S. cities, the median home price has doubled in less than a decade. authors: - name: Mary Ellen Cagnassola role: Reporter url: https://money.com/author/mary-ellen-cagnassola/ bio: Mary Ellen (M.E.) Cagnassola is a former Money reporter who specialized in U.S. rent and real estate, with a focus on market trends and affordability. education: Rutgers University, BA Journalism at_money_since: 2021 articles: 205 covers: - Housing - Banking - Business - Career Advice - Credit - Credit Cards - Economy and Politics - Education - Identity Theft - Insurance - Investing - Lifestyle - Loans - Mortgages - Personal Finance - Pets - Professional Services - Retirement - Shopping - Taxes former_staff: true editors: - name: Julia Glum role: Managing Editor url: https://money.com/author/julia-glum/ bio: Julia Glum joined Money in 2018 and specializes in covering financial trends that affect everyday Americans' wallets. She also writes Dollar Scholar, a weekly newsletter that teaches young adults how to navigate the messy world of money. education: University of Florida at_money_since: 2018 articles: 453 covers: - Housing - Banking - Business - Career Advice - Credit - Credit Cards - Debt - Economy and Politics - Education - Health and Wellness - Identity Theft - Insurance - Investing - Lifestyle - Loans - Mortgages - Personal Finance - Professional Services - Retirement - Shopping - Taxes - Technology also_seen_in: - Newsweek - International Business Times - CBS News - Good Morning America - WUSA9 - Pix 11 - The New York Times - Mashable - The Washington Post - CNBC - Politico social: - https://x.com/superjulia - https://www.linkedin.com/in/julia-glum published: '2024-04-12T19:54:12.000Z' modified: '2024-04-12T19:54:12.000Z' section: Housing tags: - News word_count: 374 canonical: https://money.com/cities-home-prices-doubled/ type: NewsArticle source: structured-blocks --- > **Disclosure:** We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included. [Learn more](https://money.com/page/disclaimer/). ![Multi-coloured vibrant art deco hotels along the Ocean Drive on a sunny day, Miami Beach, Florida](https://img.money.com/2024/04/News-Cities-Home-Prices-Doubled.jpg) *Miami Beach, FL* Remember when the average home price was about $300,000? It was only a decade ago — and in many markets, prices have grown at an even faster clip to reach today's highs. A recent [analysis](https://www.point2homes.com/news/us-real-estate-news/us-cities-where-home-prices-doubled-in-record-time.html) by real estate marketplace Point2Homes found that in just a few years, prices have doubled in most of the 100 largest cities in the U.S. In fact, home prices have risen more quickly in recent years than ever before thanks to the era's challenging market conditions. ## How quickly have home prices risen? It’s no secret that inflation, limited supply and fierce buyer competition have pushed home prices to record-breaking highs since the pandemic. In 2020, a homebuying frenzy created unprecedented demand, leading to intense bidding wars between buyers. Then inflation began to surge in mid-2021, and the Federal Reserve subsequently kicked off a series of interest rate hikes, which indirectly sent [mortgage rates](https://money.com/current-mortgage-rates/) soaring. Today, the national median home price is $424,900, according to March data from listing site Realtor.com, and the average rate on a 30-year fixed-rate loan is hovering near 7%. Supply remains limited as many would-be sellers stay locked into their current rates. Unsurprisingly, a lot of wannabe homebuyers have been pushed out of the market by the lack of affordable options. A whopping 68 big U.S. cities have seen the prices double in under 10 years as a result of these conditions. In Spokane, Washington, the median home price has climbed from $184,500 in 2018 to $371,000 now, according to Point2 analysts. Median home prices have also doubled in five of Florida’s largest markets in only six to eight years. And in Arizona, prices in seven big cities are twice what they were six to seven years ago. ## 10 cities where home prices doubled the fastest These are the major U.S. cities where home prices have doubled at the greatest pace, according to Point2: 1. [Detroit, Michigan](https://money.com/best-places-to-live/detroit-michigan/) 2. Spokane, Washington 3. Tampa, Florida 4. Miami, Florida 5. Baltimore, Maryland 6. Scottsdale, Arizona 7. [Buffalo, New York](https://money.com/best-places-to-live/buffalo-new-york/) 8. St. Petersburg, Florida 9. Jersey City, New Jersey 10. Phoenix, Arizona ## Buy your new home with more convenience and less hassle ### A Mortgage Expert at Rocket Mortgage (NMLS #3030) can lend you a hand for a smoother process. Your dream home is possible. Click below to make it happen. [View Rates](https://money.com/pr/u918d32af718?ap_referrer=%2Fcities-home-prices-doubled%2F) ![](https://s3.consumersadvocate.org/prd/image/image/26681/medium_57f09f10-efb8-487d-a73e-5f7d605144eb.png) With some help from Rocket Mortgage (NMLS #3030), you can buy a new home! [View Rates](https://money.com/pr/q14b78f7c49e?ap_referrer=%2Fcities-home-prices-doubled%2F) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "BreadcrumbList", "@id": "https://money.com/cities-home-prices-doubled/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://money.com" }, { "@type": "ListItem", "position": 2, "name": "Housing", "item": "https://money.com/housing/" }, { "@type": "ListItem", "position": 3, "name": "Home Prices", "item": "https://money.com/home-prices/" }, { "@type": "ListItem", "position": 4, "name": "10 U.S. Cities Where Home Prices Have Doubled the Fastest" } ] }, { "@type": "WebSite", "@id": "https://money.com/#website", "url": "https://money.com", "name": "Money", "publisher": { "@id": "https://money.com/#organization" } }, { "@type": "WebPage", "@id": "https://money.com/cities-home-prices-doubled/#webpage", "url": "https://money.com/cities-home-prices-doubled/", "name": "10 U.S. Cities Where Home Prices Have Doubled the Fastest", "isPartOf": { "@id": "https://money.com/#website" }, "datePublished": "2024-04-12T19:54:12.000Z", "mainEntity": { "@id": "https://money.com/cities-home-prices-doubled/" }, "inLanguage": "en-US", "breadcrumb": { "@id": "https://money.com/cities-home-prices-doubled/#breadcrumb" }, "dateModified": "2024-04-12T19:54:12.000Z" }, { "@type": "NewsArticle", "headline": "10 U.S. Cities Where Home Prices Have Doubled the Fastest", "articleSection": "Housing", "image": [ { "@type": "ImageObject", "url": "https://img.money.com/2024/04/News-Cities-Home-Prices-Doubled.jpg", "width": 2272, "height": 1515, "caption": "News-Cities-Home-Prices-Doubled" } ], "author": [ { "@type": "Person", "name": "Mary Ellen Cagnassola", "url": "https://money.com/author/mary-ellen-cagnassola/", "@id": "https://money.com/author/mary-ellen-cagnassola/#author", "description": "Mary Ellen (M.E.) 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