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America’s Fastest Rising and Falling Housing Markets
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Key Takeaways
- Austin, TX has seen the largest decline in home prices in the country since 2022, after a pandemic boom.
- Florida’s North Port and Cape Coral each have dropped 10%, hurt by rising insurance premiums and low demand.
- Rochester, NY is the hottest property market in America, with prices up 31% in three years, driven by stiff competition and affordable home prices.
In 2025, housing demand is shifting toward the Eastern and Midwestern regions of the U.S., while softening across the South.
Interestingly, this marks a reversal from pandemic-era patterns. In the South, housing inventory has risen 3.6% above pre-pandemic levels, driven by a wave of homebuilding activity. By contrast, the Northeast has seen inventory plunge 51%, fueling price growth.
This graphic shows where home prices are rising and falling the fastest in America, based on data from Home Economics.
Top 10 Fastest Rising Housing Markets
Below, we show U.S. housing markets with the biggest price gains since August 2022:
| Fastest Rising | Metro | 3-Year Home Price Change | Median Home Price |
|---|---|---|---|
| 1 | Rochester, NY | 31% | $286K |
| 2 | Hartford, CT | 29% | $404K |
| 3 | Milwaukee, WI | 27% | $363K |
| 4 | New Haven, CT | 27% | $404K |
| 5 | Albany, NY | 26% | $374K |
| 6 | Newark, NJ | 26% | $641K |
| 7 | Camden, NJ | 25% | $392K |
| 8 | Buffalo, NY | 24% | $300K |
| 9 | New Brunswick, NJ | 24% | $593K |
| 10 | Bridgeport, CT | 24% | $744K |
Given their relative affordability and proximity to major cities, markets in the Northeast—particularly in New York, Connecticut, and New Jersey—have seen double-digit increases.
Ranking first overall is Rochester, NY, rising 31%, where the median home price is just $286,000. Following next in line is Hartford, CT with 29% price gains, as out-of-state buyers have flocked to the market.
Southern U.S. Markets Are Hurting the Most
In contrast, Texas and Florida are facing the weakest housing markets in America.
| Fastest Declining | Metro | 3-Year Home Price Change | Median Home Price |
|---|---|---|---|
| 1 | Austin, TX | -12% | $448K |
| 2 | North Port, FL | -10% | $408K |
| 3 | Cape Coral, FL | -10% | $358K |
| 4 | Dallas, TX | -4% | $412K |
| 5 | Lakeland, FL | -4% | $313K |
| 6 | Deltona, FL | -4% | $344K |
| 7 | Fort Worth, TX | -4% | $360K |
| 8 | New Orleans, LA | -3% | $276K |
| 9 | Oakland, CA | -3% | $906K |
| 10 | San Antonio, TX | -2% | $318K |
While home prices in Austin boomed over the pandemic, they are now down 12% in three years.
During the pandemic, home construction surged in Texas and Florida. But now, many of those homes sit empty. In Cape Coral, FL, sellers are cutting prices to attract buyers in a sluggish market.
Out West, Oakland is the only metro among the top 10 for home price declines, with values falling 3% since August 2022. Even so, median prices remain high at $906,000—driven by the city’s relative affordability compared to San Francisco.
Learn More on the Voronoi App
To learn more about this topic, check out this graphic on U.S. cities with the highest cost of living.