Cities in the Northeast and California continue to lead the country in pricing due to severe housing shortages. For instance, Connecticut, New Jersey, and New York remain among the "hottest" markets as of early 2026. In New York City, buyers often need to save 21% to 26% of the purchase price just for the down payment and initial liquidity requirements.
Many pandemic-era "boomtowns" like Austin, Phoenix, and Mesa have seen prices cool significantly entering 2026, offering better negotiating leverage for buyers. II. Upfront Acquisition Costs how much does an apartment cost to buy
Buyers should budget for 3% to 5% of the total purchase price to cover loan origination, appraisals, title fees, and legal expenses. Cities in the Northeast and California continue to