Location, Location

Michael Sheehan

Physician's Money Digest, September15 2003, Volume 10, Issue 17

It's no secret that home prices vary bygeography. But according to a 2000 USCensus Bureau report, the difference canbe huge. In 2000, the median value of asingle-family home was $119,600, up18% from the 1990 median value of$101,100. According to the data, thecommunity with the highest medianhome price among large cities wasSunnyvale, Calif, at $459,200. The lowestmedian home price among large citieswas in Flint, Mich, where the median costof a single-family home was just $49,700.Of the 10 cities with the highest medianhome prices, 7 are in California, 1 is inMassachusetts, 1 is in Connecticut, and 1is in Hawaii. Note: The census figuresdon't take into account the boom inhome prices over the past 2 years, duringwhich time the average home price hasrisen significantly.