Twenty markets, one set of measures
Median price, median rent, gross yield and how each has moved. Same series, same date, so the comparison holds.
Before you read on
- Zillow ZHVI and ZORI, June 2026. Metro-level medians, not individual properties.
- Gross yield is annual rent over price. It excludes property tax, management, maintenance and vacancy.
- Past movement does not predict future prices.
Point 1Most of these markets fell last year. New York did not.
This is the correction that followed the rate rise. 12 of the twenty metros are down over twelve months — Austin by 5.71%, Dallas by 3.01%. New York is up 4.08% over the same period.
| Metro | 1 year | 5 year p.a. | 10 year p.a. | Median price |
|---|---|---|---|---|
| Chicago, IL | +4.51% | +5.05% | +5.15% | $359,888 |
| Cleveland, OH | +4.15% | +5.80% | +6.61% | $255,598 |
| New York, NY | +4.08% | +5.05% | +5.17% | $735,003 |
| Philadelphia, PA | +2.49% | +5.16% | +5.86% | $394,762 |
| Boston, MA | +1.69% | +4.41% | +5.66% | $746,595 |
| Columbus, OH | +1.26% | +4.72% | +6.86% | $335,357 |
| Los Angeles, CA | +0.63% | +4.24% | +5.82% | $968,028 |
| San Francisco, CA | +0.13% | +0.75% | +3.68% | $1,142,320 |
| Washington, DC | -0.33% | +2.58% | +4.04% | $584,684 |
| Charlotte, NC | -0.42% | +4.96% | +7.32% | $390,942 |
| San Diego, CA | -0.57% | +4.55% | +6.13% | $940,998 |
| Nashville, TN | -0.91% | +4.64% | +6.79% | $457,809 |
| Phoenix, AZ | -1.68% | +2.68% | +6.57% | $447,054 |
| Seattle, WA | -1.83% | +2.44% | +6.38% | $745,263 |
| Atlanta, GA | -1.98% | +4.28% | +6.82% | $383,050 |
| Houston, TX | -2.07% | +2.99% | +4.28% | $308,933 |
| Miami, FL | -2.23% | +6.02% | +6.75% | $476,598 |
| Denver, CO | -2.67% | +1.34% | +4.76% | $572,682 |
| Dallas, TX | -3.01% | +2.95% | +5.62% | $366,701 |
| Austin, TX | -5.71% | -1.80% | +3.87% | $426,944 |
Ten-year growth flatters the sunbelt markets that ran hard through 2021 and have given some of it back since. The entry point matters as much as the market.
Point 2Yield and growth together is the rare combination
Among the gateway cities New York ranks #1 on yield and #1 on five-year growth. Both first. The markets that beat it on yield alone are a different proposition.
| Metro | Gross yield | 5 year p.a. | Median price | Median rent |
|---|---|---|---|---|
| Chicago, IL | 7.59% | +5.05% | $359,888 | $2,275 |
| Cleveland, OH | 6.92% | +5.80% | $255,598 | $1,474 |
| Miami, FL | 6.78% | +6.02% | $476,598 | $2,695 |
| Houston, TX | 6.40% | +2.99% | $308,933 | $1,648 |
| Philadelphia, PA | 5.86% | +5.16% | $394,762 | $1,928 |
| New York, NY | 5.83% | +5.05% | $735,003 | $3,573 |
| Atlanta, GA | 5.81% | +4.28% | $383,050 | $1,854 |
| Dallas, TX | 5.48% | +2.95% | $366,701 | $1,673 |
| Columbus, OH | 5.47% | +4.72% | $335,357 | $1,528 |
| Charlotte, NC | 5.37% | +4.96% | $390,942 | $1,750 |
Chicago at 7.59% and Cleveland at 6.92% are ahead on yield. Both are cheaper markets where the dollar rent per unit is smaller and the resale buyer is local. Whether that trade is worth making depends on what you want the asset to do.
Point 3What the table does not show
Finance, law, medicine, the universities, the UN missions, corporate secondments. When one industry has a bad year the rental demand does not disappear with it. Single-industry metros behave differently when a vacancy comes up.
A market where the resale buyer is a local family behaves differently from one where the buyer could come from anywhere. It shows up in time to sell and in how far the price falls to clear.
Geography and zoning cap what can be built. Metros with land add units when demand rises, which caps the upside and softens the floor. Manhattan does not have that release valve.
At $3,573 a month, one unit here produces what several produce elsewhere. Management effort scales with the number of doors, not the rent, so the ratio matters.
DataAll twenty
Sorted by price. Compare on whichever column matters to you.
| Metro | Median price | Median rent | Gross yield | 1 year | 5 year p.a. | 10 year p.a. |
|---|---|---|---|---|---|---|
| San Francisco, CA · Gateway city | $1,142,320 | $3,301 | 3.47% | +0.13% | +0.75% | +3.68% |
| Los Angeles, CA · Gateway city | $968,028 | $2,927 | 3.63% | +0.63% | +4.24% | +5.82% |
| San Diego, CA · Gateway city | $940,998 | $2,991 | 3.81% | -0.57% | +4.55% | +6.13% |
| Boston, MA · Gateway city | $746,595 | $3,210 | 5.16% | +1.69% | +4.41% | +5.66% |
| Seattle, WA · Gateway city | $745,263 | $2,269 | 3.65% | -1.83% | +2.44% | +6.38% |
| New York, NY · Gateway city | $735,003 | $3,573 | 5.83% | +4.08% | +5.05% | +5.17% |
| Washington, DC · Gateway city | $584,684 | $2,448 | 5.02% | -0.33% | +2.58% | +4.04% |
| Denver, CO · Growth market | $572,682 | $1,930 | 4.04% | -2.67% | +1.34% | +4.76% |
| Miami, FL · Growth market | $476,598 | $2,695 | 6.78% | -2.23% | +6.02% | +6.75% |
| Nashville, TN · Growth market | $457,809 | $1,810 | 4.75% | -0.91% | +4.64% | +6.79% |
| Phoenix, AZ · Growth market | $447,054 | $1,733 | 4.65% | -1.68% | +2.68% | +6.57% |
| Austin, TX · Growth market | $426,944 | $1,653 | 4.65% | -5.71% | -1.80% | +3.87% |
| Philadelphia, PA · High yield | $394,762 | $1,928 | 5.86% | +2.49% | +5.16% | +5.86% |
| Charlotte, NC · Growth market | $390,942 | $1,750 | 5.37% | -0.42% | +4.96% | +7.32% |
| Atlanta, GA · Growth market | $383,050 | $1,854 | 5.81% | -1.98% | +4.28% | +6.82% |
| Dallas, TX · Growth market | $366,701 | $1,673 | 5.48% | -3.01% | +2.95% | +5.62% |
| Chicago, IL · High yield | $359,888 | $2,275 | 7.59% | +4.51% | +5.05% | +5.15% |
| Columbus, OH · High yield | $335,357 | $1,528 | 5.47% | +1.26% | +4.72% | +6.86% |
| Houston, TX · High yield | $308,933 | $1,648 | 6.40% | -2.07% | +2.99% | +4.28% |
| Cleveland, OH · High yield | $255,598 | $1,474 | 6.92% | +4.15% | +5.80% | +6.61% |
Austin is up 3.87% a year over ten and down over five. Same market, opposite conclusions, depending on where you start counting.
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Important notice
The figures on this page are general information as of August 2026 and do not represent an offer, a quote, or a guarantee of any transaction terms. Figures are Zillow's published home value and rent indices, aggregated by Reinvent NY. Reinvent NY does not provide legal, tax, or investment advice. Confirm anything material with an attorney and a CPA before you act on it. Nothing here is a solicitation to invest, and no return is promised. Real estate brokerage services are provided through R New York.