US Housing Market Report — May 2026
The state of US home prices in May 2026: the typical US home is worth $369,653, up 2.5% over the past year. Top movers, valuation and affordability, from Real Estate Price Map.
The typical US home is worth $369,653, up 2.5% over the past year — 74% of counties rose, 26% fell.
Typical US home$369,6532026-05
1-year change+2.5%
30-yr mortgage rate6.27%Freddie Mac
Counties rising74%26% falling
Look overvalued32%40% undervalued
Price-to-income3.8×national median
As of May 2026, the typical US home is worth $369,653, up 2.5% over the past year. Momentum is broadly positive: 74% of counties posted a gain and 26% a decline, with 30-year mortgage rates around 6.3%.
On valuation, roughly 32% of counties look overvalued — more than 10% above what local incomes and rents would support — and 40% undervalued. The typical county trades at 3.8× local income. The fastest-moving large markets are below.
Fastest-rising large counties
| # | County | Value | 1-year |
|---|---|---|---|
| 1 | Winnebago County, IL | $210,048 | +9.5% |
| 2 | Sangamon County, IL | $199,486 | +8.8% |
| 3 | Oneida County, NY | $237,176 | +8.4% |
| 4 | Jefferson Parish, LA | $269,193 | +8.3% |
| 5 | Trumbull County, OH | $170,899 | +8.2% |
| 6 | Saint Louis County, MN | $256,673 | +7.9% |
| 7 | San Francisco County, CA | $1,394,147 | +7.6% |
| 8 | Saginaw County, MI | $173,333 | +7.4% |
| 9 | Peoria County, IL | $164,333 | +7.2% |
| 10 | Imperial County, CA | $379,297 | +7.0% |
Fastest-falling large counties
| # | County | Value | 1-year |
|---|---|---|---|
| 1 | Charlotte County, FL | $298,142 | -9.6% |
| 2 | Lee County, FL | $339,372 | -7.3% |
| 3 | Collin County, TX | $488,699 | -6.4% |
| 4 | Sarasota County, FL | $398,681 | -6.3% |
| 5 | Williamson County, TX | $405,915 | -6.3% |
| 6 | Manatee County, FL | $409,046 | -6.0% |
| 7 | Travis County, TX | $478,622 | -5.5% |
| 8 | Maui County, HI | $997,364 | -5.3% |
| 9 | Hays County, TX | $374,688 | -5.3% |
| 10 | Collier County, FL | $556,356 | -5.0% |
Large counties = 150,000+ residents. Sources: Zillow ZHVI, US Census, Freddie Mac, as of 2026-05. See methodology.
Frequently asked questions
What is the state of the US housing market in May 2026?
The typical US home is worth $369,653, up 2.5% year over year. 74% of counties saw prices rise and 26% fell; about 32% look overvalued versus local incomes and rents.
Where are US home prices rising and falling fastest?
Among large counties, the biggest 1-year gainer is Winnebago County, IL (+9.5%); the biggest decliner is Charlotte County, FL (-9.6%).