Cities with the most expensive homes in Midland metro area

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May 6, 2022
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Cities with the most expensive homes in Midland 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. Given the current state of the real estate market, housing affordability plays a determining role for buyers. As of May 4, 2022, the 30-year fixed mortgage rate sits at 5.73%. As a result of higher mortgage rates across the board, home prices have risen significantly. According to the National Association of Realtors, the national median home price is $375,300—up from just over $356,000 this time last year.

Although home prices have inflated all across the U.S., there are definitely certain areas that have a higher price tag than others. Location, size, age, and condition are all contributing factors to home value. Whether you choose to hold off your home-buying plans in hopes of the market cooling down or are looking to buy ASAP, it's good to educate yourself on the market in different cities.

​​Stacker compiled a list of cities with the most expensive homes in Midland using data from Zillow. Cities are ranked by the Zillow Home Values Index for all homes as of March 2022. Cities with at least three years of historical data were included. The charts in this story were created automatically using Matplotlib.

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