WASHINGTON, DC — Nantucket now has the highest median home value of any town in the United States, according to a new LendingTree ranking. The island’s median home value is about $1.6 million, with Vineyard Haven on Martha’s Vineyard next at roughly $1.2 million.
The list focuses on towns with populations between 10,000 and 49,000, which means it leaves out some expensive places that sit inside larger metro areas. Even within that narrower group, the gap is striking: the most sought-after vacation towns are priced like luxury markets, not small communities.
What The Ranking Shows
LendingTree’s ranking puts Nantucket first among U.S. towns and Jackson, Wyoming, third with a median home value of about $1.1 million. Breckenridge, Colorado, ranks fourth at $748,200. The islands and ski towns that landed near the top share a common feature: buyers are competing for a limited number of homes in places that are heavily desirable for seasonal living.
The ranking also points to how much of these towns’ housing stock is not used as a year-round residence. In Nantucket, the year-round population is about 14,000, then rises above 80,000 in July and August. Seasonal residences make up more than half of the housing there, underscoring how much of the market is shaped by temporary demand rather than permanent local need.
Why Prices Run High
Jonathan Culp, a design principal at Denver-based Land Agency, said vacation towns can rise quickly because wealthier buyers have more purchasing power than local residents and workers. In his view, that uneven demand pushes prices higher in places that already have limited supply.
Physical constraints add to the pressure. Nantucket has preserved large amounts of open land from development, while mountain communities such as Breckenridge, Vail and Crested Butte face terrain limits and local rules that restrict denser building near downtown or the slopes. In those places, the same scenery that draws buyers can also make it harder to add homes.
What It Means Next
For year-round residents, the high prices can make staying in these communities more difficult, especially for workers such as firefighters, nurses, police officers, seasonal staff and service employees. Culp said many of those workers can no longer afford to live where they work, and some end up living far away, sleeping in cars or camping.
Buyers looking at these markets face more than the listing price. Culp said insurance can be costly in mountain areas exposed to wildfire or mudslide risk, and local taxes, HOA dues, snow removal, wildfire protection and short-term-rental rules can all add to the bill. Readers can check the full LendingTree ranking and local housing data through Census Bureau estimates and municipal housing records.
More on what homes, rents and new builds are doing near you, on RHS Commoner.
