About 1-in-8 single-family homes in Cambridge, Mass., were valued at $1 million or more in 2000, the highest proportion in the nation among large cities, according to the Commerce Department's Census Bureau.

    San Francisco (7 percent), Pasadena, Calif., (4.7 percent) and Los Angeles (3.8 percent) rounded out the top four in percentage of $1 million homes among cities of 100,000 population or more. The next six cities were in the neighborhood of 3 percent (see Table 1).

    The Census Bureau analysis, Home Values: 2000 [PDF 816K], said the median value ofa home in the United States was $119,600, an increase of 18 percent over the 1990 median of $101,100 (after adjusting for inflation). Median value means one-half of all homes were worth more and one- half less.

     Seven of the 10 places with the highest median single-family home values were in the San Francisco Bay area; two were in New England states; the other was in Hawaii.

     Sunnyvale, Calif., recorded the highest median single-family home value among large cities at $459,200 in 2000 more than four times the national median. The rest of the top 10 cities had median values ranging from more than $300,000 to nearly $400,000 (see Table 2).

     Flint, Mich. ($49,700), had the lowest median single-family home value among large cities, more than 50 percent below the national figure. The remainder of the 10 lowest median value cities were in the $50,000 to $60,000 range (see Table 3).

     Hawaii recorded the highest median value for single-family homes among states ($272,700), more than twice the national median. The lowest median was in Oklahoma ($70,700), one-third below the national estimate.

     The median value of single-family homes nationwide soared from $44,600 in 1950 to the $119,600 figure in 2000, after adjusting for inflation. The fastest rise from decade to decade was 43 percent in the 1970s, with the slowest (8.2 percent) in the 1980s.

     Other highlights:

• Between 1990 and 2000, Oregon had the sharpest rise in median home values of any state, up 78 percent. Other western states experiencing large increases were Utah (66 percent) and Colorado (58 percent). Values decreased in 11 states and the District of Columbia, with Connecticut showing the sharpest drop (27 percent).
• Of all 55.2 million owner-occupied homes in the nation, 70 percent were mortgaged and 30 percent were not. The median value of mortgaged homes ($128,800) was much higher than those without a mortgage ($96,900).
• Householders who were 45-to-54 years old had homes with the highest median value ($131,100), and householders younger than 25 years old had the lowest ($84,700).
• The median value of single-family homes of householders who reported their race as Asian alone was $199,300, more than 50 percent higher than the national median.
• Non-Hispanic whites alone had a median of $123,400 and Hispanic householders' median was $105,600.
• The median home values of homes occupied by householders who identified themselves as African-American alone and those who said they were American Indian or Alaska native alone were about $81,000 for each group, one-third below the national median.

     The data are based on the sample of households who responded to the census long form. Nationally, about 1-in-6 housing units were included. Estimates in the report are subject to sampling and nonsampling error.

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Table 1: Ten Places of 100,000 People or More With the Highest Percentage of Homes
Valued at $1 Million or More: 2000

(For specified owner-occupied single-family housing units. Data based on sample. For information on confidentiality protection, sampling error, nonsampling error, and definitions, see <www.census.gov/prod/cen2000/doc/sf3.pdf>)

Area	Specified owner-occupied single-family housing units	Homes valued at $1 million or more
		Number	Percent
United States	55,212,108	313,759	0.6
Cambridge, Mass.	4,453	516	11.6
San Francisco, Calif.	79,545	5,547	7.0
Pasadena, Calif.	19,318	912	4.7
Los Angeles, Calif.	412,804	15,501	3.8
Fort Lauderdale, Fla.	22,871	765	3.3
Berkeley, Calif.	15,869	510	3.2
Stamford, Conn.	18,034	485	2.7
Honolulu, Hawaii (CDP)*	40,162	1,048	2.6
Atlanta, Ga.	61,208	1,597	2.6
Fremont, Calif.	40,429	1,052	2.6

*Honolulu is a Census Designated Place (CDP). By agreement with the state of Hawaii, the Census Bureau does not show data separately for the city of Honolulu, which is coextensive with Honolulu County.

Note: Because of sampling error, the estimates in these tables may not be significantly different from one another or from estimates for other geographic areas not listed in these tables.

Source: U.S. Census Bureau, Census 2000 Summary File 3.

 

Table 2: Large Cities with Highest Median Home Values

Area	Owner-occupied single-family housing units	Median value
United States	55,212,108	$119,600
Sunnyvale, Calif.	19,314	495,200
Cambridge, Mass.	4,453	398,500
Santa Clara, Calif.	15,831	396,500
San Francisco, Calif.	79,545	396,400
San Jose, Calif.	146,892	394,000
Honolulu, Hawaii	40,162	386,700
Berkeley, Calif.	15,869	380,200
Fremont, Calif.	40,429	363,400
Stamford, Conn.	18,034	362,300
Daly City, Calif.	15,803	335,000

Source: U.S. Census Bureau

 

Table 3: Large Cities with Lowest Median Home Values

Area	Owner-occupied single-family housing units	Median value
United States	55,212,108	$119,600
Flint, Mich.	26,410	49,700
Kansas City, Kan.	31,461	52,500
Brownsville, Texas	20,258	53,000
Waco, Texas	18,226	53,300
Gary, Ind.	18,997	53,400
Buffalo, N.Y.	33,030	59,300
Philadelphia, Pa.	315,437	59,700
Pittsburgh, Pa.	66,568	59,700
Abilene, Texas	22,578	61,100
Rochester, N.Y.	30,910	61,300

Source: U.S. Census Bureau