Money

The 15 most expensive places to buy a home in the US

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As one of the oldest adages in real estate goes, home value is all about location, location, location — especially when it comes to price.

Home prices are on the rise across the U.S., especially in cities with a shortage of new developments and entry-level properties. Some places are so short on properties that bidding wars break out, driving home prices up even further.

The National Association of Realtors tracks the median sale prices of homes across every metro area in the U.S., revealing where you'll have to shell out the most to become a homeowner.

As of the first quarter of 2017, here are the most expensive places to buy a home.

15. White Plains, NY

Metro area: New York-Jersey City-White Plains, NY-NJ
Median price of a single-family home: $376,800

White Plains, New York
DenisTangneyJr | Getty Images
14. Washington, D.C.

Metro area: Washington-Arlington-Alexandria, DC-VA-MD-WV
Median price of a single-family home: $383,500

US Capitol building at the end of Pennsylvania Avenue.
Allan Baxter | Getty Images
13. New York, NY

Metro area: New York-Newark-Jersey City, NY-NJ-PA
Median price of a single-family home: $386,000

Drew Angerer | Getty Images
12. Denver, Colo.

Metro area: Denver-Aurora-Lakewood, CO
Median price of a single-family home: $396,100

Denver
Swapan Jha | Moment Open | Getty Images
11. Boston, Mass.

Metro area: Boston-Cambridge-Newton, MA-NH
Median price of a single-family home: $414,200

Boston waterfront
Education Images | UIG | Getty Images
10. Seattle, Wash.

Metro area: Seattle-Tacoma-Bellevue, WA
Median price of a single-family home: $422,100

The Seattle skyline with the space needle.
Westend61 | Getty Images
9. Naples, Fla.

Metro area: Naples-Immokalee-Marco Island, FL
Median price of a single-family home: $435,000

Danita Delimont | Getty Images
8. Long Island, NY

Metro area: Nassau County-Suffolk County, NY
Median price of a single-family home: $443,200

MikeRega | iStock / 360 | Getty Images
7. Los Angeles, Calif.

Metro area: Los Angeles-Long Beach-Glendale, CA
Median price of a single-family home: $485,800

Downtown Los Angeles at sunset.
Jean-Pierre Lescourret | Getty Images
6. Boulder, Colo.

Metro area: Boulder, CO
Median price of a single-family home: $548,400

Elevated city view from Flagstaff Mountain of Boulder, Colorado.
Walter Bibikow | Getty Images
5. San Diego, Calif.

Metro area: San Diego-Carlsbad, CA
Median price of a single-family home: $564,000

San Diego, California
Education Images | Getty Images
4. Honolulu, HI

Metro area: Urban Honolulu, HI
Median price of a single-family home: $746,000

Honolulu, Oahu, Hawaii
M Swiet Productions | Getty Images
3. Anaheim, Calif.

Metro area: Anaheim-Santa Ana-Irvine, CA
Median price of a single-family home: $750,000

Disneyland castle in Anaheim, California
Getty Images
2. San Francisco, Calif.

Metro area: San Francisco-Oakland-Hayward, CA
Median price of a single-family home: $815,000

San Francisco, California
Katherine Papera / EyeEm | Getty Images
1. San Jose, Calif.

Metro area: San Jose-Sunnyvale-Santa Clara, CA
Median price of a single-family home: $1,070,000

Dowtown San Jose
Bernd Geh | Getty Images
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