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US Metro Home Values: Chicago Up 5.1%, Austin Down 3.9%

  • by- Grihik
  • Oct 10, 2026
Zillow's September data shows Midwest and Northeast metros leading while Austin, Seattle and Dallas fall. See the city-by-city picture.
US Metro Home Values: Chicago Up 5.1%, Austin Down 3.9%

Zillow's September data shows a national picture of home values up only 1% over the year. Underneath that is a wide split by region.

Where values are rising (year over year)

  • Chicago: +5.1%

  • Hartford: +5.0%

  • Milwaukee: +4.9%

  • New York: +4.8%

  • Cleveland: +3.8%

  • San Francisco: +3.7%

  • Kansas City: +3.5%

 

Where values are falling

  • Austin: -3.9%, the steepest drop among the large metros

  • Las Vegas: -2.7%

  • Seattle: -2.2%

  • Dallas and San Antonio: about -1.9% each

  • Houston: -1.8%

  • Raleigh: -1.8%

  • Denver: -1.7%

  • Atlanta: -1.6%

Inventory tells a similar story

Active listings were up 20.3% in Seattle, 16.8% in Minneapolis, 16.6% in Cleveland and 15% in Boston. They were down 13.9% in Miami, 12.3% in SF and 12.4% in Jacksonville, where supply remains tight.

Where sales slipped most

Zillow's estimates of closed sales fell 11.2% in Atlanta, 9.3% in San Diego and Providence, and 8.7% in Seattle. A few markets saw gains, including Oklahoma City (+7.5%), Louisville (+7.2%) and Buffalo (+6.3%).

What it means

Affordable, supply-constrained markets in the Midwest and Northeast are holding up best, while Sun Belt and Mountain-region metros that boomed in the pandemic are still adjusting. For buyers, that means more leverage in places like Austin and Seattle, and less in Chicago and Milwaukee.