26 Cities Where Home Prices Are Expected to Drop in 2025

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The rising prices in the housing market have made it difficult for many individuals to become homeowners. Those looking to enter the market have to rely on taking on large mortgages that can significantly add to their financial burden. Although prices continue to rise in many parts of the country, some cities display trends leading to expected market drops. These drops will create many buyer opportunities, making homeownership much more accessible. Here are 26 cities where home prices are expected to drop in 2025:

Hartford, Connecticut

Hartford is witnessing an expansion in its industries and offers residents affordable living, career opportunities, and a high quality of life. The city continues to attract professionals, retirees, and potential home buyers. Hartford’s housing market has a median home price of about $250,000 and is expected to witness a decline in its home prices as local inventory increases and more owners put their homes on the market. Mortgage rates in the city are lower than the national average, and the expected increase in supply will make it an ideal spot for buyers.

Hobbs, New Mexico

Home prices in Hobbs are expected to decline by nearly $20,000, making the city a prime location for individuals looking to become homeowners. The attractive housing market, sunny climate, and access to various outdoor activities have increased the city’s appeal to potential homebuyers. The affordable living costs and the expected drop in prices in the housing market make it an excellent place for buyers on a budget, attracting more individuals to the city.

Lake Charles, Louisiana

Lake Charles is a family-friendly city with safe neighborhoods and a close-knit community. Home prices in the city are expected to decline by about $17,000 this year, enabling residents to enter the housing market and find more affordable prices. This has created an ideal market for young families seeking a high quality of life and a suburban lifestyle. Living costs are affordable here, and the expected drop in home prices will make homeownership more accessible for city residents.

Boston, Massachusetts

Boston has many starter homes, making the city an excellent place for first-time buyers. Mortgage rates in the city are stabilizing, which has helped home prices stabilize. This stabilization is expected to lead to a slight drop in home prices, making homeownership more accessible to residents. With a median home of about $985,000, dropping prices will make it easier for buyers to enter the market and achieve homeownership in a city with a substantial and diverse economy.

Grand Rapids, Michigan

The home inventory in Grand Rapids is expected to increase this year, enabling home prices to drop. The rising housing supply and the healthy number of starter homes will enable the housing market in the city to decrease slightly. With a median price of about $304,000, decreasing prices will make homeownership much more accessible. With many local renters in Grand Rapids also of the prime homebuying age, the drop in home prices will enable these individuals to enter the market.

Lafayette, Louisiana

Families and professionals are drawn to Lafayette’s high quality of life and affordability. The city has a rich culture filled with incredible food and traditional music, and it hosts multiple festivals each year, making it an enriching location to call home. The median home price in the city is about $260,000 and is expected to decline by about $13,000. This will make homes even more affordable in the city and attract potential buyers nationwide.

New Orleans

The combination of affordable living costs, a strong job market, and a rich food and cultural scene in New Orleans has made it an appealing location to call home. The median home price in the city is about $230,000, making it much more affordable than most places in the country. These prices are expected to decline by over $13,000 this year, making homeownership much more accessible to potential buyers. Professionals and families looking for a high quality of life and to become homeowners are drawn by the city’s potential and affordability.

Beaumont, Texas

Beaumont has an affordable housing market with a median home price of about $200,000. Individuals looking to become homeowners and avoid sizeable financial strain are attracted to the city’s affordable market, low cost of living, diverse community, and strong market. While the city already has affordable home prices, these prices are expected to drop, enabling more individuals to enter the market.

Kansas City, Missouri

The housing market in Kansas City is expected to boom with lower housing prices, a growing number of potential buyers who are currently renters, and mortgage rates that are lower than the national average. Median home prices in the city are about $250,000, which is more affordable than most cities. However, the expected price decline will help make homeownership much more accessible. The city’s high quality of life, affordability, and rich cultural and food scene have already attracted new residents, and the decline in home prices will lead to potential growth in homebuyers.

Indianapolis, Indiana

With a median home price of about $240,000, homeownership in Indianapolis is more accessible than in most housing markets. However, these prices are expected to decline this year as the housing stock increases and the job market strengthens, leading to a larger supply and more opportunities. The city’s low living costs and declining home prices will make it an ideal spot for first-time buyers, families, and young professionals looking for a blend of affordability and a high quality of life.

San Antonio, Texas

San Antonio offers Texan residents a more affordable housing market than cities like Austin or Houston. The median home price in the city is about $290,000, making homeownership accessible to many. This year, these prices are expected to drop with low mortgage rates and a growing job market that has led to large job growth. The dropping home prices will provide many home buyers with many more options to become homeowners at a more affordable price and with lower financial strain.

12 Phoenix, Arizona

The housing market in Phoenix offers lower prices than most neighboring cities, particularly those in California, which has helped to create a healthy market. The more affordable prices and lower costs of living, combined with the growing economy and job market, have created a high quality of life and ample opportunities for residents. The growing economy and the oversaturation of homes on the market are expected to enable home prices to drop and make homeownership much more accessible. The median home price in the city is about $492,000, and the drop in this price will create many more buying options and attract more buyers to the city.

Dubois, Pennsylvania

Dubois is a beautiful city surrounded by natural beauty and abundant opportunities for outdoor recreation. It also provides a small-town charm, has a close-knit community, and has affordable living costs, which can make it an appealing location to live. The city’s median home price is already very affordable, at about $160,000, and the prices are expected to decrease even further, making homeownership much more accessible. This will increase the city’s appeal to buyers, enabling more individuals to enter the market.

Boise, Idaho

Boise has experienced growing home values for several years, leading to rapid price increases in the housing market for many years. However, these values are expected to stabilize, which will cause the prices in the market to decrease. The city has witnessed a migration of buyers and stagnant incomes that have been unable to keep up with rising home prices. This has led to a decline in demand and is set to result in lower home prices due to an attempt to correct the market. The median home price is $510,000, which might become lower to make homeownership more accessible.

Orlando, Florida

The high quality of life, strong economy, and ample opportunities in Orlando have led the housing market to witness rising values for many years. These rising values have led the demand for housing to cool down in many parts of the city as more potential buyers find it challenging to meet the high prices in the market, with a median price of $390,000. This is expected to decrease prices in the market, which will help make homeownership more accessible to buyers and encourage them to enter the market.

Austin, Texas

The housing market saw a boom during the pandemic, driven by the growth in the tech sector and an influx of new residents, leading to large economic growth. This growth has stabilized in the city, which has led to home prices showing signs of cooling down. The median home price in Austin is about $520,000, much higher than most places in the state. However, the city’s housing market is expected to move away from the pandemic-driven boom, which will help lower prices and make homeownership more accessible to potential buyers.

Knoxville, Tennessee

Home prices in Knoxville average at about $420,000. Many potential home buyers are drawn to the city for the quality of life and strong country music scene. However, the high prices of homes can make it more difficult for buyers to enter the market. Knoxville is expected to see a rise in supply and more affordable mortgage rates, which will help home prices decline. This decline will make homeownership much more accessible.

Charlotte, North Carolina

The rapid growth that Charlotte has experienced in recent years has helped to build a strong and diverse economy with ample opportunities in the growing job market. The median home price in the city is about $425,000, which is considered relatively high for many buyers. However, as the city’s growth stabilizes and homeowners put their homes into the market to increase supply, home prices are expected to decrease, making them slightly more affordable.

Greenville, South Carolina

Job growth, a booming economy, ample starter homes, and affordable living costs have helped to make Greenville a great place to become a homeowner. The city has a median home price of $389,000, which can be expensive for many. However, these prices are expected to decline this year, enabling homeownership to become much more accessible. The lower prices in the market will increase the city’s appeal to families and young professionals, which will benefit the city in the long run.

Spokane, Washington

The average home price in Spokane is about $396,000, which is more affordable than most cities in the country. This price is expected to decrease by about 1.1%, which will help potential buyers find more affordable homes. This will help increase the city’s appeal to young families and professionals who are also seeking urban convenience combined with a strong sense of community.

North Port, Florida

The low crime rates, safe neighborhoods, and natural beauty of North Port make it an appealing location to live. The median home price in the city is about $365,000, and these prices are expected to decline this year owing to the cooling down in demand caused by the high mortgage rates and the increased risk of natural disasters. As the home prices in the city decline, homeownership will become much more accessible, offering many opportunities for potential buyers seeking a more affordable market.

Atlanta, Georgia

Atlanta is an excellent city for individuals seeking a rich culture, a strong job market, and a high quality of life. With the median home price in the city being about $385,000, homeownership is less accessible for many residents. However, these prices are expected to decrease this year, along with cooling down mortgage rates, which will help make the market more appealing and affordable for many. The decreasing prices will encourage potential buyers to enter the market to stabilize demand and create a healthy market.

23 Palm Bay, Florida

With a median home price of about $325,000, homeownership in Palm Bay can be considered more affordable than most markets in the state. These affordable prices, combined with the high quality of life, laid-back lifestyle, and access to the city’s beaches, make it an appealing location to call home. Potential home buyers will benefit from entering the housing market in Palm Bay, as home prices are expected to fall as the supply increases. This will help to increase the city’s appeal, attracting many families seeking affordable homes and a comfortable lifestyle.

Spokane Valley, Washington

Spokane Valley is a suburb in Spokane. It offers its residents a high quality of life where they enjoy easy access to outdoor activities, a peaceful environment, a friendly community, and a range of opportunities. The median home price in the suburb is about $419,000, which is more affordable than most cities in Washington. These prices are expected to drop, creating a much more affordable housing market. Potential buyers will be able to find affordable housing options throughout Spokane Valley due to a stabilizing market, making it an appealing location for buyers.

San Francisco, California

San Francisco is often considered one of the country’s most expensive cities, with high living and housing costs. However, the city is expected to witness a cooling down period, driven by the high living costs and the population decline. The growth of remote work and significant tech layoffs can encourage residents to relocate, leading to a drop in housing demand and a decline in home values. This means the median home price of $1.2 million will decrease, making homeownership slightly more accessible to potential buyers.  

Roswell, Georgia

The home prices in Roswell are also expected to decline this year, driven by a cooling down period after rising home prices for many years. The median home price in the city is about $700,000, which is more expensive than most cities in Georgia. These high prices have slowed down demand and are expected to lower costs in the housing market. Homeownership in Roswell will become more accessible, drawing in families and professionals.

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