Surprising Ohio city beats NYC, Miami, and San Francisco for the biggest jump in home values

Home prices are climbing in some unlikely corners of America — and most, are surprisingly, from modest Midwestern cities.While home values declined in most major US cities over the past year, some unexpected places have bucked the trend.Toledo, Ohio, recorded the largest annual increase in typical home values among 100 major US cities, rising 5.6%, according to a SmartAsset study published in April.Lincoln, Nebraska, followed with a 4.1% increase, while New York City and San Francisco each saw gains of approximately 4%.Toledo’s relative affordability may help explain its strong showing.The Ohio city’s typical home value stood at just $126,270 in February, according to SmartAsset, making it a comparatively affordable option for buyers.

Local brokerage Wiens & Roth Real Estate pointed to tight inventory, with roughly 1.5 months of housing supply, and interest from buyers priced out of larger metropolitan areas as factors supporting demand.Lincoln, Nebraska typical home value now averages to $285,359 in February, according to SmartAsset.The city’s housing market has remained competitive.

Realtor.com classified Lincoln as a seller’s market in September, with median sale prices up 6.5% year over year, even as active listings increased 11.4%.The increases stand out against a broader backdrop of falling prices, with 70% of the cities analyzed experiencing declining home values between February 2025 and February 2026.San Francisco’s gains were particularly striking given that nearby Oakland recorded the steepest decline in the study, with typical home values falling 9.1%.Florida also saw some of the largest drops, with St.Petersburg declining 7.5% and Naples falling 6.4%, while Austin, Texas, recorded a decrease of approximately 6%.Meanwhile, at the uppermost reaches of the housing market, some of America’s wealthiest communities are reaching unprecedented heights.Atherton, California, the Silicon Valley enclave favored by tech billionaires, became the ...