--- title: Here’s Where Home Prices Are Rising the Most in the U.S. description: Even as mortgage rates rise, home prices continue to see big increases. Prices are up 25% or more in several Florida cities. authors: - name: Sarah Hansen role: Senior Writer url: https://money.com/author/sarah-hansen/ bio: Sarah Hansen is a senior writer at Money covering all things personal finance. Previously, she covered economic policy and capital markets on the breaking news desk at Forbes. education: Northwestern University, New York University at_money_since: 2021 articles: 347 covers: - Housing - Banking - Business - Career Advice - Credit - Credit Cards - Economy and Politics - Education - Health and Wellness - Insurance - Investing - Lifestyle - Loans - Mortgages - Personal Finance - Professional Services - Retirement - Shopping - Taxes social: - https://www.linkedin.com/in/sarah-m-hansen/ former_staff: true editors: - name: Brad Tuttle role: Senior Editor url: https://money.com/author/brad-tuttle/ bio: Brad Tuttle is a former senior editor at Money with over 10 years’ experience covering a vast number of personal finance topics, including careers, cars, travel, budgeting, investing, insurance, credit cards, consumer psychology, real estate, banking, and shopping and deals. education: Columbia University School of Journalism, MS at_money_since: 2014 articles: 366 covers: - Housing - Banking - Business - Career Advice - Credit - Credit Cards - Economy and Politics - Education - Health and Wellness - Identity Theft - Insurance - Investing - Lifestyle - Loans - Mortgages - Personal Finance - Pets - Professional Services - Retirement - Shopping - Taxes - Technology social: - https://twitter.com/bradrtuttle - https://linkedin.com/in/brad-tuttle-834b225 former_staff: true published: '2022-05-03T18:02:42.000Z' modified: '2024-01-10T13:12:54.000Z' section: Housing tags: - home prices - News word_count: 442 canonical: https://money.com/where-home-prices-are-rising-most/ 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/). ![Street building in Ocala Florida](https://img.money.com/2022/05/News-Top-10-cities-home-prices-up.jpg?crop=0px%2C152px%2C2880px%2C1620px&quality=85) Home prices in America keep rising at an astonishing pace, despite [some signs](https://money.com/house-list-prices-dropping/) that the red-hot housing market may finally be cooling off. A new [report](https://www.nar.realtor/newsroom/first-quarter-of-2022-brings-double-digit-price-appreciation-for-70-of-metros) from the National Association of Realtors (NAR) found that in the first quarter of 2022, 70% of the 185 major metro areas saw home prices grow by 10% or more over the past year. [Mortgage rates](https://money.com/current-mortgage-rates/) have risen sharply this year, but so far that doesn't seem to be reining in home prices much. Nationally, the median price of an existing single-family home (not new construction) jumped 15.7% to $368,200, according to NAR, and some cities saw much larger gains. Here are the top 10 metro areas with the largest price gains over the past year, according to NAR. As you can see, half of the top 10 are in Florida. 1. Punta Gorda, Florida (34.4%) 2. Ocala, Florida (33.8%) 3. Ogden-Clearfield, Utah (30.8%) 4. Lakeland-Winter Haven, Florida (30.1%) 5. Decatur, Alabama (28.9%) 6. Tampa-St. Petersburg-Clearwater, Florida (28.8%) 7. Fort Collins, Colorado (28.4%); 8. North Point-Bradenton-Sarasota, Florida. (28.0%) 9. Myrtle Beach-Conway-North Myrtle Beach, North Carolina-South Carolina (28.0%) 10. Salt Lake City, Utah (27.9%) NAR Chief Economist Lawrence Yun said price gains in these smaller cities mostly in the Sun Belt are now larger than those in larger metro areas like New York, San Francisco or Seattle. "This is due to buyers looking for less expensive housing and also a result of more opportunities to work from home," Yun added, "making relocation to smaller markets possible." With mortgage rates now soaring above 5%, it seems like everyone is wondering when home prices will start to swing the other way. Higher mortgage rates have pushed the typical [monthly mortgage payment](https://money.com/mortgage-calculator/) up nearly [40% over the last year](https://money.com/typical-mortgage-payment-increase-one-year/), according to data from real estate brokerage Redfin. In light of higher costs for homeowners, some buyers will probably start to drop out of the market to [wait until houses become more affordable](https://money.com/tips-waiting-to-buy-house-hot-market/) again. Last week, Redfin Chief Economist Daryl Fairweather estimated that “the number of buyers willing to pay such high mortgage payments could evaporate by late summer.” But because there is still an extreme [shortage of inventory](https://money.com/rising-mortgage-rates-housing-shortage/), a drop in buyer interest might not necessarily be enough to push prices down. According to NAR’s Yun, prospective buyers shouldn’t hold their breath for lower prices just yet. "Given the extremely low inventory,” he said, "we're unlikely to see price declines.” Yun added, however, that price growth "should slow in the coming months." ```json { "@context": "https://schema.org", "@graph": [ { "@type": "BreadcrumbList", "@id": "https://money.com/where-home-prices-are-rising-most/#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": "Housing Market", "item": "https://money.com/housing-market/" }, { "@type": "ListItem", "position": 4, "name": "Here’s Where Home Prices Are Rising the Most in the U.S." } ] }, { "@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/where-home-prices-are-rising-most/#webpage", "url": "https://money.com/where-home-prices-are-rising-most/", "name": "Here’s Where Home Prices Are Rising the Most in the U.S.", "isPartOf": { "@id": "https://money.com/#website" }, "datePublished": "2022-05-03T18:02:42.000Z", "mainEntity": { "@id": "https://money.com/where-home-prices-are-rising-most/" }, "inLanguage": "en-US", "breadcrumb": { "@id": "https://money.com/where-home-prices-are-rising-most/#breadcrumb" }, "dateModified": "2024-01-10T13:12:54.000Z" }, { "@type": "NewsArticle", "headline": "Here’s Where Home Prices Are Rising the Most in the U.S.", "articleSection": "Housing", "image": [ { "@type": "ImageObject", "url": "https://img.money.com/2022/05/News-Top-10-cities-home-prices-up.jpg?crop=0px%2C152px%2C2880px%2C1620px&quality=85", "width": 1012, "height": 569, "caption": "News-Top-10-cities-home-prices-up" } ], "author": [ { "@type": "Person", "name": "Sarah Hansen", "url": "https://money.com/author/sarah-hansen/", "@id": "https://money.com/author/sarah-hansen/#author", "description": "Sarah Hansen is a senior writer at Money covering all things personal finance. Previously, she covered economic policy and capital markets on the breaking news desk at Forbes.", "image": "https://img.money.com/2021/10/a_sarah-hansen.jpg?quality=85&w=400&h=440&crop=1", "email": "sarah.hansen@money.com", "alumniOf": "Northwestern University, New York University", "sameAs": [ "https://www.linkedin.com/in/sarah-m-hansen/" ] } ], "publisher": "https://money.com/#organization", "datePublished": "2022-05-03T18:02:42.000Z", "description": "Even as mortgage rates rise, home prices continue to see big increases. Prices are up 25% or more in several Florida cities.", "abstract": "Even as mortgage rates rise, home prices continue to see big increases. Prices are up 25% or more in several Florida cities.", "@id": "https://money.com/where-home-prices-are-rising-most/", "inLanguage": "en-US", "dateModified": "2024-01-10T13:12:54.000Z", "editor": [ { "@type": "Person", "name": "Brad Tuttle", "url": "https://money.com/author/brad-tuttle/", "@id": "https://money.com/author/brad-tuttle/#author", "description": "Brad Tuttle is a former senior editor at Money with over 10 years’ experience covering a vast number of personal finance topics, including careers, cars, travel, budgeting, investing, insurance, credit cards, consumer psychology, real estate, banking, and shopping and deals.\r\n\r\n", "image": "https://img.money.com/2014/01/Brad-Tuttle.png?w=226&h=247&crop=1", "alumniOf": "Columbia University School of Journalism, MS", "sameAs": [ "https://twitter.com/bradrtuttle", "https://linkedin.com/in/brad-tuttle-834b225" ] } ], "wordCount": 442, "keywords": [ "home prices", "News" ], "about": [ { "@type": "Thing", "name": "Housing in the United States", "sameAs": [ "https://en.wikipedia.org/wiki/Housing_in_the_United_States" ] }, { "@type": "Thing", "name": "Housing market", "sameAs": [ "https://en.wikipedia.org/wiki/Housing_market" ] }, { "@type": "Thing", "name": "Real estate economics", "sameAs": [ "https://en.wikipedia.org/wiki/Real_estate_economics" ] } ] } ] } ```