Vital Signs: Home Prices by City (2022) | Last Updated 20 Jun 2023

VITAL SIGNS INDICATOR Home Prices (EC7) FULL MEASURE NAME Home Prices LAST UPDATED December 2022 DESCRIPTION Home prices refer to the cost of purchasing one’s own house or condominium. While a significant share of residents may choose to rent, home prices represent a primary driver of housing affordability in a given region, county or city. DATA SOURCE Zillow: Zillow Home Value Index (ZHVI) - 2000-2021 California Department of Finance: E-4 Historical Population Estimates for Cities, Counties, and the State - 2000-2021 US Census Population and Housing Unit Estimates - 2000-2021 Bureau of Labor Statistics: Consumer Price Index - 2000-2021 US Census ZIP Code Tabulation Areas (ZCTAs) - 2020 Census Blocks CONTACT INFORMATION METHODOLOGY NOTES (across all datasets for this indicator) Housing price estimates at the regional-, county-, city- and zip code-level come from analysis of individual home sales by Zillow based upon transaction records. Zillow Home Value Index (ZHVI) is a smoothed, seasonally adjusted measure of the typical home value and market changes across a given region and housing type. It reflects the typical value for homes in the 35th to 65th percentile range. ZHVI is computed from public record transaction data as reported by counties. All standard real estate transactions are included in this metric, including REO sales and auctions. Zillow makes a substantial effort to remove transactions not typically considered a standard sale. Examples of these include bank takeovers of foreclosed properties, title transfers after a death or divorce and non arms-length transactions. Zillow defines all homes as single-family residential, condominium and co-operative homes with a county record. Single-family residences are detached, which means the home is an individual structure with its own lot. Condominiums are units that can be owned in a multi-unit complex, such as an apartment building. Co-operative homes are slightly different from condominiums in that the homeowners own shares in the corporation that owns the building, not the actual units themselves. For metropolitan area comparison values, the Bay Area metro area’s median home sale price is the population-weighted average of the nine counties’ median home prices. Data is adjusted for inflation using Bureau of Labor Statistics metropolitan statistical area (MSA)-specific series. Inflation-adjusted data are presented to illustrate how home prices have grown relative to overall price increases; that said, the use of the Consumer Price Index (CPI) does create some challenges given the fact that housing represents a major chunk of consumer goods bundle used to calculate CPI. This reflects a methodological tradeoff between precision and accuracy and is a common concern when working with any commodity that is a major component of the CPI itself.

Tags: vital signs, vital signs 2.0, ec7

This dataset has the following 9 columns:

Column NameAPI Column NameData TypeDescriptionSample Values
MedpricemedpricenumberZillow Home Value Zestimate
Medprice_Iamedprice_ianumberZillow Home Value Zestimate (2021 dollars)
PercentchngpricepercentchngpricenumberPercent Change Since 2000
PercentchngpriceiapercentchngpriceianumberPercent Change Since 2000 (2021 dollars)