The Most Expensive and Affordable Housing Markets of May 2026
The REMAX National Housing Report tracks home prices across 51 metro areas each month, and the May 2026 report showed a wide gap between the most expensive and affordable housing markets in the country. The national median sales price was $450,000 in May, up 1.4 percent from a year earlier.
Around that midpoint, individual metros ranged from a median near $260,000 to one above $1.3 million. The rankings below show where homes sold for the least and the most in May 2026, based on the median sales price in each market.
Where Were the Most Affordable Housing Markets in May 2026?
In May 2026, the most affordable housing market in the REMAX National Housing Report was a tie between Cleveland, Ohio and Wichita, Kansas, where the median sales price was $260,000 in each. Pittsburgh, Pennsylvania followed at $272,500, then Tulsa, Oklahoma at $290,000 and New Orleans, Louisiana at $300,000. Every market in the affordable top ten recorded a median sales price below the national median of $450,000.
Several of these metros also sold homes faster than the national average of 42 days. Cincinnati, Ohio averaged 22 days on market in May, and St. Louis, Missouri averaged 34 days. A lower median price did not always mean a slower pace of sales, and buyers at lower price points still met competition in many of these markets. The full ranking of the ten most affordable metros in May 2026 appears below.
| Rank | Metro Area | Median Sales Price (May 2026) |
|---|---|---|
| 1 (tie) | Cleveland, OH | $260,000 |
| 1 (tie) | Wichita, KS | $260,000 |
| 3 | Pittsburgh, PA | $272,500 |
| 4 | Tulsa, OK | $290,000 |
| 5 | New Orleans, LA | $300,000 |
| 6 | Detroit, MI | $305,000 |
| 7 | St. Louis, MO | $307,250 |
| 8 | San Antonio, TX | $310,950 |
| 9 | Des Moines, IA | $315,000 |
| 10 | Cincinnati, OH | $328,798 |
Where Were the Most Expensive Housing Markets in May 2026?
In May 2026, the most expensive housing market in the REMAX National Housing Report was San Francisco, California, where the median sales price was $1,312,500. Los Angeles, California followed at $1,025,000, the only other metro in the report above the $1 million mark in May. San Diego, California ranked third at $910,000, then Seattle, Washington at $741,558 and Honolulu, Hawaii at $740,000.
Each of the ten most expensive markets recorded a median sales price more than $150,000 above the national median of $450,000. San Francisco also posted the report’s highest close-to-list price ratio in May at 107 percent, which meant homes there sold for an average of 7 percent above their list price. The full ranking of the ten most expensive metros in May 2026 appears below.
| Rank | Metro Area | Median Sales Price (May 2026) |
|---|---|---|
| 1 | San Francisco, CA | $1,312,500 |
| 2 | Los Angeles, CA | $1,025,000 |
| 3 | San Diego, CA | $910,000 |
| 4 | Seattle, WA | $741,558 |
| 5 | Honolulu, HI | $740,000 |
| 6 | Boston, MA | $730,000 |
| 7 | Bozeman, MT | $665,000 |
| 8 | New York, NY | $660,000 |
| 9 | Washington, DC | $625,155 |
| 10 | Denver, CO | $610,000 |
How Wide Was the Gap Between the Most Expensive and Affordable Housing Markets?
In May 2026, the gap between the most and least expensive markets in the REMAX National Housing Report was about five times. San Francisco’s median sales price of $1,312,500 was roughly five times the $260,000 median recorded in Cleveland and Wichita, a difference of $1,052,500. The national median of $450,000 sat closer to the affordable end of that range than the expensive end.
Of the 51 metro areas surveyed, two reported medians above $1 million, while eleven reported medians below $315,000. That spread reflected long-standing differences in local economies, land costs, and housing supply across the country rather than any single national pattern. For buyers in May 2026, the size of the gap meant that location remained the largest single factor in what a typical home cost.
What Did the National Numbers Show in May 2026?
The May 2026 REMAX National Housing Report recorded a national median sales price of $450,000, up 1.1 percent from April and up 1.4 percent from May 2025. Home sales rose 7.9 percent from April, the fourth consecutive month of month-over-month gains, though sales finished 0.5 percent below the May 2025 level. New listings declined 8.4 percent year over year, the seventh straight month of annual decreases, which limited the growth of overall inventory.
Inventory still finished 2.0 percent above May 2025, the 29th consecutive month of year-over-year growth. Homes sold in an average of 42 days, three days faster than in April. The months’ supply of inventory was 2.5, and the average close-to-list price ratio held at 99 percent. These figures provided the national backdrop for the local price rankings above.
Chris Lim, REMAX President and Chief Growth Officer, described the May market in the report: “The housing market was finding its footing this spring, with steady month-over-month sales gains showing that buyers are still engaged. At the same time, the slowdown in new listings limited inventory growth. That’s keeping conditions competitive in many markets, even as price growth remains relatively moderate.”
What Did This Mean for Buyers and Sellers?
A median sales price describes an entire metro area, not a specific neighborhood, home, or price point. Conditions within a single market varied by location, property type, and time of year. A local REMAX agent can explain what the May 2026 numbers meant for a specific area and budget, and can share current listings that fit a given price range.
Frequently Asked Questions
What was the most affordable housing market in May 2026?
In May 2026, Cleveland, Ohio and Wichita, Kansas tied as the most affordable market in the REMAX National Housing Report, each with a median sales price of $260,000. That was $190,000 below the national median of $450,000.
What was the most expensive housing market in May 2026?
In May 2026, San Francisco, California was the most expensive market in the REMAX National Housing Report, with a median sales price of $1,312,500. Los Angeles, California ranked second at $1,025,000.
What was the national median home price in May 2026?
The national median sales price in the May 2026 REMAX National Housing Report was $450,000, up 1.1 percent from April 2026 and up 1.4 percent from May 2025.
How large was the gap between the most and least expensive markets in May 2026?
In May 2026, the most expensive market’s median price was about five times the least expensive. San Francisco’s median of $1,312,500 was $1,052,500 higher than the $260,000 median in Cleveland and Wichita.
