Industry News
The town-and-country lifestyle is often portrayed as simpler, more idyllic, and less expensive than big-city living, especially when it comes to housing. But is this really the case?
LendingTree analyzed U.S. Census Bureau data from the American Community Survey to explore the costs of buying a home in smaller towns. They identified the 50 U.S. micropolitan areas (towns with populations between 10,000 and 50,000) with the highest median home values.
Surprisingly, many of these towns feature real estate prices that rival and sometimes surpass those in the nation’s 50 largest metropolitan areas. Maybe not surprising is many of them are located within 50 miles, or less than an hour’s drive, of a ski resort. See the list below.
#9 Los Alamos, NM
- Total population: 19,253
- Median home value: $412,700
- Median household income: $135,801
- Home value-to-income ratio: 3.04
- Closest ski area: Pajarito Ski Area – 6 miles
#8 Ellensburg, WA
- Total population: 44,424
- Median home value: $417,600
- Median household income: $66,800
- Home value-to-income ratio: 6.25
- Closest ski area: Snoqualmie Pass – 56 miles
#7 Hood River, OR
- Total population: 23,965
- Median home value: $492,500
- Median household income: $80,254
- Home value-to-income ratio: 6.14
- Closest ski area: Mt. Hood Meadows – 35 miles
#6 Gardnerville Ranchos, NV
- Total population: 49,476
- Median home value: $529,600
- Median household income: $84,262
- Home value-to-income ratio: 6.29
- Closest ski area: Heavenly Mountain Resort – 16 miles
#5 Hailey, ID
- Total population: 25,381
- Median home value: $534,900
- Median household income: $81,271
- Home value-to-income ratio: 6.58
- Closest ski area: Sun Valley Resort – 13 miles
#4 Steamboat Springs, CO
- Total population: 24,944
- Median home value: $691,800
- Median household income: $95,144
- Home value-to-income ratio: 7.27
- Closest ski area: Steamboat Ski Resort – 3 miles
#3 Breckenridge, CO
- Total population: 30,955
- Median home value: $760,000
- Median household income: $100,611
- Home value-to-income ratio: 7.55
- Closest ski area: Breckenridge Ski Resort – 1 mile
#2 Jackson, WY
- Total population: 35,159
- Median home value: $847,300
- Median household income: $102,435
- Home value-to-income ratio: 8.27
- Closest ski area: Jackson Hole Mountain Resort – 12 miles
#1 Vineyard Haven, MA
- Total population: 20,543
- Median home value: $998,100
- Median household income: $93,225
- Home value-to-income ratio: 10.71
- Closest ski area: Blue Hills Ski Area – 80 miles
These towns are not only sought-after for their charm and lifestyle but also serve as popular vacation destinations. They are often nestled near ski resorts or scenic locations and attract wealthy individuals looking to invest in second homes who snag up a town’s limited housing supply, making housing difficult to afford for locals who aren’t high-income earners. The appeal of these towns lies in their combination of natural beauty, recreational opportunities, and exclusivity, driving up property values and making them some of the priciest real estate markets in the country whether it’s in the big city or smaller towns.
