United States real estate market — prices, rental yield and trend
- Average price: $2,411 / m²
- Gross rental yield: 6.32%
- 12-month price change (USD): 2.2%
- Net rental yield: 5.65%
- Transaction cost: 6.9%
- Bubble-risk band: moderate
- Price basis: national average
Residential property in United States averages $2,411 per square metre. In dollar terms the market has barely moved over the last twelve months (+2.2%). That makes it the 56th most expensive of the 83 markets in the set.
What a buyer pays in United States
The $2,411 figure is a national average across all residential property types, which flattens a wide spread — the capital typically runs far above it and small towns far below. Buying costs — transfer tax or stamp duty, notary, registration and agency — come to about 6.9% of the price here. On a 100 m² apartment at the average price that is roughly $16,636 on top of the $241,100 purchase price. That is below the 10.2% median across the set, which shortens the time it takes for a purchase to break even.
What it earns
The typical home here lets for about $1,948 a month against a purchase price of $369,678, which is 6.3% gross before tax. Neither figure is quoted per square metre in this market, but both come from the same source, so the ratio between them holds. It ranks 31st of 88 markets by gross yield. Rental income is taxed at 10–30% — the rate is not a single number here. That is the difference between 4.4% and 5.7% net on the same property. The 5.7% net figure we publish uses 10.7%.
How the tax works. 10.66% under the IRC § 871(d) election, which treats the letting as effectively connected income taxed on a net basis at progressive rates (Form 1040-NR with W-8ECI); the lower part of the band (10–11%) is the spread across typical rent levels under that election. Without the election the default is a 30% withholding on the gross rent (§ 871(a)), the upper end of the band — three to four times the net tax, so virtually every real owner elects. Non-resident aliens get no standard deduction and the NIIT does not apply. Depreciation (27.5-year MACRS) is not included; with it the real burden is roughly 5–6%. Source: irs.gov.
Where the price sits against its own history
Prices are +28.9% over five years and +85.2% over ten in local terms. Today’s level sits 21.7% above the country’s own long-run trend. A gap that size does not have to close, but it is the number to watch. Glopra’s bubble-risk score for United States is 57 out of 100 — moderate risk. Of the 58 markets scored, 32 read higher.
United States house price index, 2016–2026 (2016 = 100)
| Year | Index |
|---|---|
| 2016 | 100 |
| 2017 | 105.8 |
| 2018 | 111.9 |
| 2019 | 115.8 |
| 2020 | 122.8 |
| 2021 | 143.7 |
| 2022 | 164.9 |
| 2023 | 169 |
| 2024 | 177.7 |
| 2025 | 181.6 |
| 2026 | 185.3 |
Rebased to 100 in 2016, the index stands at 185.3 in 2026.
Who can buy in United States
Freehold, no restrictions. That is the rule a foreign buyer meets first, not legal advice — check the current position locally before you commit.
How this figure is built
The price figure for United States is built from asking prices from listings. It was last refreshed on 2026-09-13. We rate our confidence in this market’s data high: the underlying series is official and current. We recompute every market the same way; a figure that fails our checks is suppressed, not guessed.
Sources: FHFA HPI · fhfa.gov · fred.stlouisfed.org · globalpropertyguide.com. Snapshot: 2026-09-13.
Latest United States market analysis
- US House Prices Rose 0.3% in July, With Annual Gains Ranging From 0.6% to 6.3% by Region — 2026-09-29
- Las Vegas Led US Relocation Demand in the Second Quarter, With Five Florida Metros in the Top Ten — 2026-09-27
- US Architecture Billings Stay Weak in August 2026, Multifamily Index at 47.8 — 2026-09-26
- US 30-year mortgage rate climbs to 7.03%, 73 basis points above a year ago — 2026-09-25
- US new-home sales reach 684,000 in August, but the margin of error swallows the move — 2026-09-25
- US Home Prices Rose 3.7% in August, the Fastest in a Year, in the Weakest Market for Sellers on Record — 2026-09-24
- US home sellers paid concessions in 44.7% of sales in August — 2026-09-21
- US Home Completions Fell 27.1% in a Year While Housing Starts Barely Moved — 2026-09-20
- US Builder Confidence Fell to 32 in September as 38% of Builders Cut Prices — 2026-09-17
- The Fed Raised Rates to 3.75-4% and Its Own Projections Point to One More — 2026-09-17
- US 10-year Treasury yield touches 5% for the first time since 2023 as mortgage rates reach 6.76% — 2026-09-15
- US Existing-Home Sales Fell 2.0% in August as Supply Reached 4.9 Months — 2026-09-12
Related markets: Miami (metro area) · Las Vegas (metro area) · New York (metro area) · Austin (metro area) · Phoenix (metro area) · Tampa (metro area)