How does your city compare? Check out this list of 275 places and see which are hottest.
By MSN Money staff
Rankings for house-price appreciation from the Office of Federal Housing Enterprise Oversight (OFHEO) were released June 1. Rankings are listed by Metropolitan Statistical Areas (MSAs).
Arizona continues to exhibit the greatest appreciation rate, although price growth has dropped significantly in that state, the OFHEO says. Quarterly appreciation in Arizona dipped from approximately 7.4 percent to 3.8 percent, while its four-quarter appreciation dropped from over 35.5 percent to 32.8 percent. Quarterly appreciation rates were off significantly in the Tucson and Phoenix-Mesa-Scottsdale MSAs.
Rapid increases continue to be widespread in Florida. Out of the 20 MSAs with the largest percentage house price gains in the past year, 10 were in Florida.
Prices continue to rise in some areas affected by Hurricane Katrina. Appreciation rates were particularly robust in New Orleans-Metairie-Kenner, La., and Hattiesburg, Miss.
For the first time since the fourth quarter of 2002, negative quarterly appreciation rates were observed for some states. Iowa and South Dakota both experienced small price declines between the fourth quarter of 2005 and the first quarter of 2006.
OFHEOs House Price Index is published on quarterly basis and tracks average house price changes in repeat sales or refinancings of the same single-family properties. OFHEOs index is based on analysis of data obtained from Fannie Mae and Freddie Mac from more than 30 million repeat transactions over the last 30 years.
Akron, OH through Los Angeles | Louisville, KY through Yuba City, CA
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| Housing appreciation (in percent) by metro area* | | Metro area | Ranking* | Q1 2006 | 1-year | 5-year | | Louisville-Jefferson County, KY-IN | 217 | 1.37 | 4.80 | 23.71 | | Lubbock, TX | 195 | 1.17 | 5.54 | 25.28 | | Lynchburg, VA | 115 | 0.05 | 10.90 | 35.42 | | Macon, GA | 207 | 0.82 | 5.15 | 21.70 | | Madera, CA | 31 | 4.13 | 23.20 | 146.40 | | Madison, WI | 180 | 0.22 | 6.38 | 39.29 | | Manchester-Nashua, NH | 165 | 1.36 | 6.91 | 66.05 | | Mansfield, OH | 239 | -0.42 | 3.70 | 20.56 | | Medford, OR | 39 | 2.92 | 21.76 | 98.00 | | Memphis, TN-MS-AR | 182 | 2.15 | 6.27 | 18.76 | | Merced, CA | 22 | 1.87 | 25.86 | 133.91 | | Miami-Miami Beach-Kendall, FL | 13 | 4.80 | 28.03 | 133.11 | | Michigan City-La Porte, IN | 210 | -1.24 | 5.03 | 22.17 | | Milwaukee-Waukesha-West Allis, WI | 136 | 1.23 | 8.41 | 43.57 | | Minneapolis-St. Paul-Bloomington, MN-WI | 167 | 0.95 | 6.77 | 51.79 | | Missoula, MT | 102 | 0.51 | 12.01 | 61.41 | | Mobile, AL | 87 | 2.59 | 14.61 | 27.36 | | Modesto, CA | 30 | 1.92 | 23.20 | 132.15 | | Monroe, MI | 266 | -2.04 | 1.60 | 20.33 | | Montgomery, AL | 129 | 1.59 | 9.18 | 23.01 | | Mount Vernon-Anacortes, WA | 29 | 6.89 | 23.54 | 62.71 | | Muskegon-North Shores, MI | 225 | 1.46 | 4.24 | 21.59 | | Myrtle Beach-Conway-North Myrtle Beach, SC | 41 | 3.32 | 21.62 | 52.06 | | Napa, CA | 80 | 2.81 | 15.74 | 101.77 | | Naples-Marco Island, FL | 2 | 4.55 | 37.73 | 140.42 | | Nashville-Davidson-Murfreesboro, TN | 131 | 1.99 | 9.01 | 27.06 | | Nassau-Suffolk, NY | 96 | 1.89 | 12.94 | 92.72 | | Newark-Union, NJ-PA | 94 | 1.45 | 13.30 | 78.91 | | New Haven-Milford, CT | 103 | 1.93 | 11.97 | 71.00 | | New Orleans-Metairie-Kenner, LA | 90 | 4.34 | 14.32 | 45.33 | | New York-White Plains-Wayne, NY-NJ | 77 | 2.98 | 16.23 | 86.68 | | Niles-Benton Harbor, MI | 164 | -1.85 | 6.91 | 31.41 | | Norwich-New London, CT | 105 | 1.93 | 11.38 | 73.19 | | Oakland-Fremont-Hayward, CA | 60 | 1.15 | 18.01 | 84.37 | | Ogden-Clearfield, UT | 130 | 2.60 | 9.15 | 17.98 | | Oklahoma City, OK | 144 | 1.44 | 7.99 | 30.82 | | Olympia, WA | 26 | 4.78 | 24.48 | 66.34 | | Omaha-Council Bluffs, NE-IA | 228 | 0.52 | 4.10 | 22.46 | | Orlando-Kissimmee, FL | 7 | 4.82 | 31.98 | 100.14 | | Oshkosh-Neenah, WI | 205 | 1.94 | 5.17 | 26.95 | | Oxnard-Thousand Oaks-Ventura, CA | 69 | 2.55 | 16.80 | 121.26 | | Palm Bay-Melbourne-Titusville, FL | 25 | 3.21 | 24.86 | 134.39 | | Panama City-Lynn Haven, FL | 50 | 1.37 | 20.06 | 100.68 | | Pensacola-Ferry Pass-Brent, FL | 42 | 1.54 | 21.56 | 74.41 | | Peoria, IL | 193 | 1.07 | 5.66 | 22.37 | | Philadelphia, PA | 92 | 1.62 | 13.49 | 74.29 | | Phoenix-Mesa-Scottdale, AZ | 4 | 3.75 | 36.52 | 97.34 | | Pittsburgh, PA | 196 | 1.86 | 5.50 | 28.17 | | Portland-South Portland-Biddeford, ME | 133 | 1.07 | 8.56 | 66.64 | | Portland-Vancouver-Beaverton, OR-WA | 44 | 3.75 | 21.39 | 56.62 | | Port St. Lucie-Fort Pierce, FL | 27 | 2.48 | 24.24 | 140.99 | | Poughkeepsie-Newburgh-Middletown, NY | 112 | 1.27 | 10.99 | 90.11 | | Prescott, AZ | 8 | 4.79 | 30.83 | 93.42 | | Providence-New Bedford-Fall River, RI-MA | 121 | 1.66 | 10.02 | 92.64 | | Provo-Orem, UT | 113 | 3.13 | 10.92 | 20.69 | | Pueblo, CO | 194 | 1.75 | 5.56 | 22.35 | | Punta Gorda, FL | 21 | 3.32 | 26.06 | 125.62 | | Racine, WI | 162 | -1.33 | 6.97 | 41.70 | | Raleigh-Cary, NC | 168 | 2.61 | 6.77 | 19.78 | | Reading, PA | 99 | 2.71 | 12.49 | 52.46 | | Redding, CA | 34 | 5.03 | 22.87 | 130.27 | | Reno-Sparks, NV | 58 | 1.80 | 18.17 | 110.09 | | Richmond, VA | 67 | 3.28 | 17.04 | 61.71 | | Riverside-San Bernardino-Ontario, CA | 46 | 3.79 | 21.27 | 141.60 | | Roanoke, VA | 125 | 1.43 | 9.68 | 38.41 | | Rochester, MN | 243 | -0.61 | 3.52 | 25.57 | | Rochester, NY | 213 | -0.93 | 4.91 | 21.69 | | Rockford, IL | 171 | 1.13 | 6.68 | 27.71 | | Rockingham County-Strafford County, NH | 153 | 0.47 | 7.23 | 60.92 | | Sacramento-Arden-Arcade-Roseville, CA | 95 | -0.24 | 13.18 | 112.23 | | Saginaw-Saginaw Township North, MI | 275 | -0.71 | 0.14 | 17.20 | | St. Cloud, MN | 181 | 0.24 | 6.31 | 46.85 | | St. George, UT | 1 | 6.88 | 38.40 | 79.75 | | St. Louis, MO-IL | 150 | 1.34 | 7.61 | 39.44 | | Salem, OR | 74 | 3.10 | 16.45 | 38.87 | | Salinas, CA | 68 | -0.65 | 16.87 | 107.94 | | Salt Lake City, UT | 76 | 3.45 | 16.25 | 31.00 | | San Antonio, TX | 134 | 0.03 | 8.55 | 29.14 | | San Diego-Carlsbad-San Marcos, CA | 143 | 0.23 | 8.03 | 108.86 | | San Francisco-San Mateo-Redwood City, CA | 88 | 1.15 | 14.60 | 58.68 | | San Jose-Sunnyvale-Santa Clara, CA | 81 | -0.20 | 15.65 | 45.75 | | San Luis Obispo-Paso Robles, CA | 91 | 1.82 | 13.86 | 106.45 | | Santa Ana-Anaheim-Irvine, CA | 55 | 2.95 | 19.18 | 125.93 | | Santa Barbara-Santa Maria, CA | 114 | -1.26 | 10.90 | 119.33 | | Santa Cruz-Watsonville, CA | 63 | 2.60 | 17.76 | 66.97 | | Santa Fe, NM | 107 | 0.84 | 11.35 | 52.99 | | Santa Rosa-Petaluma, CA | 98 | -0.27 | 12.62 | 75.23 | | Sarasota-Bradenton-Venice, FL | 12 | 3.75 | 28.23 | 125.04 | | Savannah, GA | 100 | 2.99 | 12.24 | 53.69 | | Scranton-Wilkes-Barre, PA | 123 | 0.41 | 9.77 | 33.43 | | Seattle-Bellevue-Everett, WA | 57 | 3.80 | 18.20 | 54.48 | | Sheboygan, WI | 166 | 0.92 | 6.89 | 29.16 | | Shreveport-Bossier City, LA | 155 | 0.47 | 7.22 | 32.03 | | Sioux City, IA-NE-SD | 240 | -0.38 | 3.61 | 12.69 | | Sioux Falls, SD | 230 | -0.77 | 4.04 | 23.96 | | South Bend-Mishawaka, IN-MI | 204 | 0.73 | 5.21 | 21.44 | | Spartanburg, SC | 267 | -2.17 | 1.51 | 12.86 | | Spokane, WA | 52 | 3.12 | 19.66 | 51.43 | | Springfield, IL | 232 | 1.70 | 3.98 | 17.64 | | Springfield, MA | 119 | 1.43 | 10.43 | 67.83 | | Springfield, MO | 137 | 1.41 | 8.38 | 28.02 | | Springfield, OH | 200 | -0.09 | 5.42 | 19.01 | | Stockton, CA | 45 | 1.76 | 21.38 | 113.26 | | Syracuse, NY | 132 | 1.57 | 8.85 | 38.10 | | Tacoma, WA | 49 | 3.63 | 20.11 | 65.24 | | Tallahassee, FL | 70 | 2.75 | 16.58 | 66.12 | | Tampa-St. Petersburg-Clearwater, FL | 20 | 4.54 | 26.22 | 99.71 | | Toledo, OH | 254 | 1.25 | 2.79 | 19.56 | | Topeka, KS | 250 | -0.13 | 3.17 | 25.09 | | Trenton-Ewing, NJ | 86 | 2.60 | 14.63 | 83.54 | | Tucson, AZ | 11 | 2.65 | 28.70 | 82.64 | | Tulsa, OK | 221 | 0.41 | 4.77 | 19.31 | | Tuscaloosa, AL | 188 | 0.65 | 5.90 | 25.52 | | Vallejo-Fairfield, CA | 61 | 1.52 | 17.91 | 109.61 | | Virginia Beach-Norfolk-Newport News, VA-NC | 40 | 3.40 | 21.75 | 94.05 | | Visalia-Porterville, CA | 18 | 3.71 | 26.58 | 120.77 | | Warren-Troy-Farmington Hills, MI | 262 | -0.45 | 1.97 | 18.77 | | Washington-Arlington-Alexandria, DC-VA-MD-WV | 38 | 2.43 | 21.76 | 113.00 | | Waterloo-Cedar Falls, IA | 156 | -0.15 | 7.20 | 29.20 | | Wausau, WI | 255 | -2.15 | 2.75 | 26.80 | | Wenatchee, WA | 65 | 3.79 | 17.14 | 39.10 | | West Palm Beach-Boca Raton-Boynton Beach, FL | 17 | 4.75 | 27.32 | 138.94 | | Wichita, KS | 251 | -1.12 | 3.06 | 16.41 | | Wilmington, DE-MD-NJ | 71 | 3.00 | 16.57 | 73.10 | | Wilmington, NC | 36 | 4.90 | 22.60 | 56.13 | | Winchester, VA-WV | 37 | 4.54 | 22.30 | 106.66 | | Winston-Salem, NC | 206 | 0.41 | 5.16 | 19.03 | | Worcester, MA | 174 | 0.32 | 6.53 | 64.88 | | Yakima, WA | 154 | 2.24 | 7.22 | 22.60 | | York-Hanover, PA | 66 | 2.71 | 17.11 | 50.43 | | Youngstown-Warren-Boardman, OH-PA | 222 | 1.11 | 4.54 | 18.75 | | Yuba City, CA | 59 | 0.80 | 18.16 | 137.93 |
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* Note: Rankings based on annual percentage change, for all MSAs containing at least 15,000 transactions over the last 10 years.
Akron, OH through Los Angeles | Louisville, KY through Yuba City, CA
Return to "The nation's hottest housing markets"
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