National Housing Market Report
US Housing Market Overview
Data through February 2026 · 3,108 counties across 50 states + DC · Updated monthly
Avg Home Value
$360,591
▲ 0.2% year-over-year
Avg Rent/Month
$1,895
▲ 1.9% year-over-year
Median List Price
$391,617
Homes For Sale
1,114,442
The United States housing market as of February 2026 shows a national average home value of $360,591, up 0.2% year-over-year. There are currently 1,114,442 homes listed for sale nationwide, with approximately 242,653 new listings entering the market each month. The median list price sits at $391,617, while the average sale price is $494,381.
The national rental market shows an average asking rent of $1,895 per month, up 1.9% from last year. The estimated monthly mortgage payment on a median-priced home with 10% down is $2,226, which is $331 more than the average rent. Homes are going pending in a median of 39 days nationwide.
Currently, 0.2% of homes sell above asking price while 0.6% sell below, indicating a balanced market nationally. 0.2% of active listings have taken a price cut. The national sale-to-list ratio is 99.0%, meaning homes are selling close to list price.
The most expensive state by average home value is Hawaii at $849,615, while the most affordable is Mississippi at $155,069. That is a $694,546 spread between the highest and lowest cost states. For real estate investors, this data helps identify markets where wholesale deals, fix-and-flip opportunities, and BRRRR strategies offer the best returns relative to entry price.
Each state page below links to detailed county-level reports with historical charts going back to 2000, bedroom-level price breakdowns, market activity indicators, affordability analysis, and ZIP code data. Data is sourced from the Zillow Home Value Index (ZHVI) and Zillow Observed Rent Index (ZORI), refreshed on the 17th of each month.
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Market Snapshot
US Housing Market at a Glance
National market metrics for the last 3 months with trend direction.
| Metric | Dec 2025 | Jan 2026 | Feb 2026 | 3-Mo Change |
|---|---|---|---|---|
| Avg Home Value | $359,138 | $359,884 | $360,591 | ▲ 0.4% |
| Single Family Value | $360,654 | $361,449 | $362,210 | ▲ 0.4% |
| Median List Price | $396,283 | $392,950 | $391,617 | ▼ 1.2% |
| Avg Rent/Month | $1,886 | $1,888 | $1,895 | ▲ 0.5% |
| Homes For Sale | 1,239,517 | 1,158,753 | 1,114,442 | ▼ 10.1% |
| New Listings | 252,596 | 228,339 | 242,653 | ▼ 3.9% |
| % Listings w/ Price Cut | 0.2% | 0.2% | 0.2% | ▲ 17.6% |
Home Values
US Home Value Trend (2000–2026)
National home values including the 2008 housing crash, 2012 recovery, 2020 COVID surge, and 2022 rate shock. Switch between All Homes, Single Family, Bottom Tier, Top Tier, and Rent.
Source: Zillow Research ZHVI / ZORI · Updated monthly
By Bedroom
National Home Values by Bedroom Count
Median home values across the US by bedroom count. A typical 3-bedroom home is valued at $342,125 nationally.
1 Bedroom
$244,634
2 Bedrooms
$272,855
3 Bedrooms
$342,125
4 Bedrooms
$500,485
5+ Bedrooms
$705,938
Market Tiers
Investor vs. Buyer Segments
How the national market breaks down by price tier. Bottom-tier homes are the primary target for wholesale investors and BRRRR strategies.
Bottom Tier
Under 33rd percentile
$193,626
▲ 0.9% YoY
Wholesale / investor range
Mid Tier
33rd-67th percentile
$360,591
▲ 0.2% YoY
Typical buyer range
Top Tier
Over 67th percentile
$697,045
Luxury / high-end
Affordability
Monthly Cost to Own vs. Rent Nationally
Estimated mortgage payments on the median-priced US home at current rates compared to the national average rent.
| Down Payment | Est. Monthly Payment | vs. Avg Rent |
|---|---|---|
| 5% down | $2,942/mo | $1,047 more than rent |
| 10% down | $2,819/mo | $923 more than rent |
| 20% down | $2,331/mo | $436 more than rent |
All 50 States + DC
US Housing Market by State
Average home values and rent across all states, ranked by home value. Click any state to explore its county-level data.
Data Sources and Methodology
National housing market data on this page comes from the Zillow Home Value Index (ZHVI) and Zillow Observed Rent Index (ZORI), updated monthly by Zillow Research. ZHVI measures the typical home value using Zillow's proprietary automated valuation model, smoothed and seasonally adjusted to remove noise. ZORI measures the typical observed market-rate rent, controlling for quality mix changes over time.
State-level averages shown in the table are computed from individual county data within each state. Sale price, inventory, days-on-market, and sale-to-list metrics are sourced from Zillow Research public data releases. All data is refreshed on the 17th of each month. This report covers 3,108 counties, 927 metropolitan areas, and 26,932 ZIP codes across all 50 states and the District of Columbia.
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