Home Price Growth in 25 Cities in North America
| Metro Area | Price Change (2005-2024) ▼ | Home Price 2005 | Home Price 2024 | Population 2024 (Estimated) |
|---|---|---|---|---|
| Toronto | 205% | $266,000 | $812,000 | 7,000,000 |
| Vancouver | 192% | $302,000 | $882,000 | 3,100,000 |
| Montreal | 153% | $156,000 | $393,000 | 4,600,000 |
| Dallas | 151% | $150,000 | $377,000 | 8,200,000 |
| Mexico City | 133% | $92,000 | $215,000 | 22,500,000 |
| Seattle | 126% | $331,000 | $749,000 | 4,100,000 |
| Houston | 111% | $146,000 | $309,000 | 7,600,000 |
| Atlanta | 110% | $183,000 | $384,000 | 6,400,000 |
| Monterrey | 107% | $46,000 | $96,000 | 5,700,000 |
| Puebla | 103% | $46,000 | $92,000 | 3,400,000 |
| Tampa | 100% | $189,000 | $379,000 | 3,400,000 |
| Guadalajara | 100% | $51,000 | $102,000 | 5,600,000 |
| Miami | 98% | $247,000 | $489,000 | 6,200,000 |
| Phoenix | 90% | $242,000 | $461,000 | 5,100,000 |
| San Francisco | 90% | $621,000 | $1,178,000 | 4,600,000 |
| San Diego | 78% | $536,000 | $955,000 | 3,300,000 |
| Los Angeles | 77% | $543,000 | $963,000 | 12,900,000 |
| Boston | 76% | $395,000 | $697,000 | 4,900,000 |
| Inland Empire, CA | 73% | $336,000 | $582,000 | 4,800,000 |
| Philadelphia | 71% | $212,000 | $363,000 | 6,300,000 |
| Detroit | 61% | $157,000 | $253,000 | 4,400,000 |
| New York | 55% | $428,000 | $665,000 | 19,600,000 |
| Minneapolis | 52% | $248,000 | $376,000 | 3,700,000 |
| Washington, DC | 43% | $398,000 | $570,000 | 6,400,000 |
| Chicago | 37% | $236,000 | $323,000 | 9,300,000 |
*19-Year Price Changes for Canadian Cities in CA$: Toronto: +240%, Vancouver: +226%, Montreal: +182%. | ||||
Source:
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Exploring Home Price Growth in North America’s* 25 Largest Cities:
🔝Top Five Metropolitan by Home Price Growth (2005 - 2024):
- Toronto: 205% (Annual Growth: 6.04%)
- Vancouver: 192% (Annual Growth: 5.80%)
- Montreal: 153% (Annual Growth: 5.00%)
- Dallas: 151% (Annual Growth: 4.95%)
- Mexico City: 133% (Annual Growth: 4.56%)
Canadian cities are leading the pack, even though both salary growth and GDP growth in Canada have lagged behind the U.S.
💰Top Five Most Expensive Metro Real Estate Markets 2024:
- San Francisco: $1.18M
- Los Angeles: $963K
- San Diego: $955K
- Vancouver: $882K
- Toronto: $812K
🌆Top Five Most Populated Metropolitans in North America 2024:
- Mexico City: 22.5 million
- New York City: 19.6 million
- Los Angeles: 12.9 million
- Chicago: 9.3 million
- Dallas: 8.2 million
The substantial home price growth in Canadian cities underscores ongoing challenges with affordability due to both real and speculative demand. In contrast, U.S. cities have experienced relatively moderate home price increases, mainly because of fewer restrictions on housing supply.
*We considered the largest cities of the USA, Canada, and Mexico.
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