Key Points:

• The NFC West has the highest median sales prices because it’s home to three of the most expensive markets in the country: San Francisco, Los Angeles, and Seattle. 
  
  
• The AFC north has the lowest median sale prices because it includes two of the least expensive markets in the country – Cleveland and Pittsburgh.
  
  
• Markets comprising the NFC South, particularly Tampa, Fla. and Charlotte, N.C., have experienced the most significant increase in median sale prices since 2019.

The “autumn wind” accompanies several iconic annual traditions – the start of the school year, the end of the peak home-buying season, and, of course, the kickoff of the National Football League (NFL) season. To mark the start of football, we called a housing economics audible and analyzed the median house prices across NFL cities and divisions to determine how the divisions match up in our 2024 House Price Blitz.  

“Looking at the game film, or analyzing median house prices, our 2024 House Price Blitz found significant disparities across NFL divisions, with the NFC West leading as the most expensive and the AFC North trailing as the least expensive.” 

Glitz of NFC West Markets Carries Division to Top of 2024 House Price Blitz 

Looking at the game film, or analyzing median house prices, found that the NFC West stands out as the most expensive division, while the AFC North emerges as the least expensive. The NFC West holds the top spot because it’s home to three of the most expensive markets in the country: San Francisco, Los Angeles, and Seattle. Even Phoenix, its fourth market, is still in the top 10 for most expensive housing markets of the 30 cities represented in the analysis. These traditionally more expensive markets have historically attracted residents eager for job opportunities, urban amenities, and outdoor lifestyle, while simultaneously playing tight defense on housing supply. High demand in the face of short supply is a recipe for a big play in house price appreciation.

At the bottom of our 2024 House Price Blitz rankings is the AFC North, which includes two of the least expensive NFL markets – Cleveland and Pittsburgh. Unlike tech hubs or major financial centers, the rust-belt markets of the AFC North have seen slower economic and population growth in recent decades, which has forced housing demand to punt. As a result, home prices in the AFC North have remained relatively affordable. These historically industrial cities have also faced economic shifts, particularly due to the decline in manufacturing and heavy industry, which further influenced housing market dynamics. However, with their more affordable cost of living and lower barriers to homeownership, there’s argument to be made that these markets are actually winning the 2024 House Price Blitz and may become increasingly attractive to young professionals and families seeking value in a challenging housing environment.

When we drop back to scan the field, or compare the current house price landscape to pre-pandemic 2019, some noteworthy growth trends across these divisions demand a time out for a second look. Median sale prices in the NFC South markets, particularly Tampa, Fla. and Charlotte, N.C., have increased the most. Net in-migration and a surge in demand for housing earned these sunbelt markets the label of pandemic “boomtowns.” House prices in markets in the AFC North, such as Pittsburgh and Baltimore, took a more methodical path, growing the least relative to pre-pandemic prices.

Splitting the Uprights

The analysis of median sales prices reveals significant disparities across NFL divisions, with the NFC West emerging as the most expensive and the AFC North trailing as the most affordable. Interestingly, the gap between the AFC North and NFC North as well as the gap between the NFC South and AFC South, is just about the nose of the football, or relatively small. These divisions with more affordable housing options may continue to attract home buyers seeking better value so, while they may be underdogs in the 2024 House Price Blitz, they still move the chains of homeownership. Supply and demand dynamics in each of the NFL markets could shift the rankings in the coming years. As we move through this NFL season, keep an eye on not only your favorite team, but also how the house price game plans play out in the big game of affordability. 

2024 House Price Blitz Game Plan (or Methodology)

To determine which NFL division claims the 2024 House Price Blitz title, we estimated the median existing-home sale prices for 2024 (January through August) in each NFL market. To provide a more comprehensive and comparable view of home prices across divisions, the median sale prices were then population-weighted to calculate a division-wide average. This method ensures that larger markets, such as Los Angeles and New York, which exert a more substantial influence on division average, are appropriately represented compared to smaller cities.