These Small Towns Are the Most Expensive in the US According to a New Study
Moving to a small town does not always mean lower costs. A recent LendingTree study shows that some of the smallest communities in America come with price tags that rival major cities. The research focused on towns with populations between 10,000 and 50,000, comparing median home values with household incomes. Many of the priciest places turn out to be coastal escapes and mountain retreats where a slower pace still demands a high budget.
Nantucket, Massachusetts
Credit: Getty Images
The country’s priciest small town is 30 miles off Cape Cod with just over 14,000 year-round residents. Homes here average $1,387,000, while the median household income is $119,750, meaning houses cost nearly 12 times what locals earn annually. The island’s real estate prices compare to those in San Jose, California. The main difference is that Nantucket has ferries rather than freeways and cobblestone streets rather than Silicon Valley startups.
Jackson, Wyoming
Credit: Getty Images
Jackson sits at the base of the Teton Range and carries a median home value of about $954,600. The town draws skiers, hikers, and wildlife enthusiasts year-round, and housing prices rival those in parts of the Los Angeles metro area. Grand Teton National Park is minutes away, while Yellowstone National Park lies about an hour north. Typical household income is around $106,679 a year.
Vineyard Haven, Massachusetts
Credit: Getty Images
Vineyard Haven is the largest population center on Martha’s Vineyard, home to about 20,000 residents, and the median home price stands at $1,104,100. Average household income is around $102,348, which means buying a home can cost roughly eleven times what a household earns in a year. The town serves as the island’s main port and commercial hub, so activity stays steady most of the year. Waterfront living here comes at a steep price.
Breckenridge, Colorado
Credit: Wikimedia Commons
Breckenridge has about 38,000 residents, and much of its economy revolves around ski season. The median home price is $706,800, while the typical annual income sits near $102,233. The town stands at 9,600 feet above sea level and is home to one of North America’s highest ski resorts. In summer, trails fill with mountain bikers. Victorian buildings along Main Street reflect its 1859 gold rush roots.
Hailey, Idaho
Credit: Wikimedia Commons
Hailey lies in the Wood River Valley and has about 31,000 residents, with daily life shaped by the outdoors. Sun Valley is eight miles north, which helps explain the strong demand for housing. Ernest Hemingway spent his final years nearby, drawn to the same landscape that now attracts fly fishers, backcountry skiers, and mountain bikers in Sawtooth National Forest. Average household income is around $81,389, and the median home price is $544,300.
Hood River, Oregon
Credit: Wikimedia Commons
Hood River draws windsurfers and kiteboarders thanks to the steady winds that sweep through the Columbia River Gorge. Mount Hood rises to the south and offers skiing within an hour. Around 24,000 people live here, and spring brings orchard blooms along with a cider and brewery scene that has gained national notice. The challenge comes with housing. The median home price is $571,200, compared with an average income of $82,095, a 6.96 ratio.
Port Townsend, Washington
Credit: Getty Images
Fort Worden State Park occupies a former Army base on this town’s northern edge. Downtown, 1880s Victorian buildings stand as reminders of when Port Townsend was expected to become the Pacific Northwest’s major port. While that boom fizzled, preservation efforts have turned economic disappointment into a cultural treasure. Today, residents here pay Riverside, California, prices. We’re talking about homes costing $495,100 where residents earn an average salary of $71,143.
Steamboat Springs, Colorado
Credit: Getty Images
Natural hot springs bubble up right downtown, where locals soak year-round regardless of season. Steamboat’s ranching heritage persists through weekly summer rodeos, creating an unusual mix of agriculture and alpine tourism. Housing costs reflect that popularity, where a median home price of $482,300 is paired with average household incomes of $93,984. That matches Salt Lake City’s market, though Steamboat’s 38,248 residents get northwestern Colorado mountain views instead of urban sprawl.
Ellensburg, Washington
Credit: Wikimedia Commons
About 45,000 people call Ellensburg home, and the presence of Central Washington University shapes much of the town’s energy. Set in the Kittitas Valley between the Cascades and the Columbia River, it sees only about 8.8 inches of rain each year, far less than Seattle, which explains the “banana belt” nickname. The Ellensburg Rodeo draws crowds every Labor Day weekend. Median household income is roughly $69,928, while homes average $459,900.
Los Alamos, New Mexico
Credit: Getty Images
Los Alamos began as a secret community during World War II as part of the Manhattan Project, and that history still defines it. Around 20,000 residents live at an elevation of 7,300 feet, which keeps summers cooler than much of New Mexico. Los Alamos National Laboratory anchors the local economy, and the Bradbury Science Museum offers free admission with exhibits that include nuclear weapons components. Median household income reaches $143,188, the highest on this list, while average home values stand at $452,500.