WASHINGTON – Home values across the United States soared 32 percent during the first half of this decade, according to new data released on Tuesday by the U.S. Census Bureau.
Among U.S. cities, the largest increase was in San Diego, where the real median home value surged by 127.2 percent, a jump to $567,000 from $249,000 from 2000 to 2005, the American Community Survey report showed.
"Just about anyone who owns a home or has been in the market for one in the past few years knows first-hand how home values jumped from 2000 to 2005," said Census Bureau Director Louis Kincannon.
Among other large cities, Los Angeles saw a 110.2 percent rise in median home values and New York saw a 79.1 percent gain.
Monthly costs for home owners with mortgages rose 5 percent over that period, while the median cost of renting a home increased nationally by 6.7 percent.