Toledo, Ohio Records Largest Increase in Home Values Among Major US Cities

Home prices are increasing in various regions of the United States, particularly in some Midwestern cities. According to a SmartAsset study published in April, Toledo, Ohio, experienced the largest annual increase in typical home values among 100 major US cities, rising 5.6%. Lincoln, Nebraska, followed with a 4.1% increase, while New York City and San Francisco each saw gains of approximately 4%. Toledo's typical home value was reported at $126,270 in February, making it a more affordable option for buyers. Local brokerage Wiens & Roth Real Estate indicated that tight inventory, with about 1.5 months of housing supply, and interest from buyers priced out of larger metropolitan areas contributed to the demand. Lincoln's typical home value averaged $285,359 in February, with Realtor.com classifying it as a seller's market in September, noting a year-over-year increase in median sale prices of 6.5%, despite an 11.4% rise in active listings. These increases contrast with a broader trend of declining home values, as 70% of the cities analyzed reported decreases between February 2025 and February 2026. Notably, San Francisco's gains were significant, especially as nearby Oakland recorded a 9.1% decline in home values. In Florida, St. Petersburg saw a 7.5% drop, while Naples fell 6.4%, and Austin, Texas, recorded a decrease of approximately 6%. In contrast, some of the wealthiest communities in the US are experiencing record-high home sale prices. Atherton, California, became the first ZIP code in the country to surpass a median home sale price of $10 million, reaching $10.725 million, a 29% increase from the previous year. More than two-thirds of the ZIP codes in PropertyShark's ranking recorded rising median sale prices. Eliza Theiss, the report's author, noted that the luxury market tends to be more resilient, as wealthy buyers are better positioned to withstand economic downturns. The Hamptons also saw significant price increases, with Sagaponack's median sale price rising to $7.35 million, up 24% from last year. Bridgehampton's median sale price increased 114% to a record $6.15 million, while Water Mill reached $5.75 million. However, Bridgehampton's increase was accompanied by a 39% drop in transactions. Newport Coast, California, reached a record median sale price of $6.1 million, up nearly 20%, while Beverly Hills' 90210 ZIP code returned to the top 10 at $5.39 million, a 24% increase. The New York metropolitan area tied with the San Francisco Bay Area, each having 31 ZIP codes among the nation's most expensive. Westchester County placed three ZIP codes in the top 100 for the first time, while New York City had three, led by Tribeca's 10013 at $3.85 million. Fisher Island, a Miami Beach community that topped last year's ranking, dropped to third after its median sale price fell 24% to $7.22 million. Theiss highlighted that even luxury markets are not immune to downturns, noting that 2023 was a weak year following the pandemic housing boom. The studies from SmartAsset and PropertyShark illustrate the varying trends in home prices across the country, from affordable Midwestern cities to exclusive coastal areas with multimillion-dollar properties.