10 Affordable U.S. Cities That Could Surpass $1M in Home Prices by 2033

The U.S. housing market may be cooling for now, but some surprising metro areas are showing long-term potential for explosive home price growth. According to a Realtor.com projection, 10 of America’s most affordable cities could experience such steep gains that median home prices surpass $1 million by 2033.

The forecast draws on home price trends from 2014 to 2019, applying them to 2023 home values to estimate where prices could land in five to ten years. While not guaranteed, the data highlights which cities could shift dramatically in terms of affordability, opportunity, and real estate investment returns.

Here’s the reshuffled lineup of the 10 cities that might evolve into million-dollar markets—starting with a few lesser-expected contenders:

1. Stockton, California

• Current Median Price: $430,000

• 2033 Projection: $1,446,731

Stockton leads the list in projected growth, thanks to a 58% home price increase between 2014 and 2019. With values expected to more than triple by 2033, Stockton could soon rival the Bay Area in terms of cost—despite its current image as a mid-tier market.

2. Seattle, Washington

• Current Median Price: $900,000

• 2033 Projection: $1,485,885

Already one of the most expensive cities on the list, Seattle still has room to grow. Its tech-driven economy helped fuel a 46.3% home price jump from 2014–2019. With a median household income of $121,984, the city supports its prices—for now.

3. Honolulu, Hawaii

• Current Median Price: $610,000

• 2033 Projection: $1,143,830

Honolulu may be costly, but it still lags behind other parts of Hawaii. With its island lifestyle and limited inventory, the market saw nearly 30% growth pre-pandemic, and is expected to cross the million-dollar mark despite already having living costs 85% above average.

4. Colorado Springs, Colorado

• Current Median Price: $460,000

• 2033 Projection: $1,019,929

Affordable by Colorado standards, Colorado Springs recorded 49.8% growth between 2014 and 2019. Its relative affordability and increasing popularity make it one of the strongest sleeper picks on this list.

5. Sacramento, California

• Current Median Price: $485,000

• 2033 Projection: $1,103,325

Home prices in Sacramento jumped 40.7% in the five years leading up to 2019. With a median household income of $83,753 and rapidly growing demand, the capital city is positioned to become significantly more expensive by 2033.

6. Boston, Massachusetts

• Current Median Price: $799,000

• 2033 Projection: $991,804

Unlike others on the list, Boston may see a short-term dip before rebounding. Its slower historical growth (26.2% between 2014–2019) and sky-high living costs haven’t kept it off the million-dollar trajectory—just slightly delayed.

7. Boise, Idaho

• Current Median Price: $498,500

• 2033 Projection: $1,162,910

Once an underrated market, Boise is no longer under the radar. The city experienced a 58.2% jump in prices pre-2020, with continued demand from tech workers and remote employees driving prices toward the million-dollar mark.

8. Denver, Colorado

• Current Median Price: $620,000

• 2033 Projection: $1,296,676

Denver’s market has been heating up for years, with a 53.8% rise between 2014 and 2019. Even with a cost of living 9% above average, the city remains attractive due to its vibrant economy and outdoor lifestyle.

9. Salt Lake City, Utah

• Current Median Price: $522,200

• 2033 Projection: $1,064,147

Salt Lake City offers steady growth with strong fundamentals. However, 10% higher-than-average living costs and a median income of $74,925 suggest the city may face an affordability crunch as prices surge.

10. Portland, Oregon

• Current Median Price: $542,300

• 2033 Projection: $1,051,838

Portland’s blend of urban appeal and West Coast charm drove a 44.9% growth between 2014 and 2019. Today, prices are climbing again, but with living costs 19% above average, first-time buyers may find fewer opportunities.

Rising Home Prices Could Squeeze Local Buyers

If home prices climb as predicted, many current residents in cities like Stockton and Colorado Springs may find it impossible to afford homes within the next decade. Median incomes in these areas aren’t rising fast enough to keep pace with soaring housing costs, meaning affordability will become a serious problem. Investors may see strong returns, but buyers who don’t act soon risk being shut out of these markets entirely.

Also Read: 5 U.S. Tourist Towns Where Property Prices Are Falling Fast — Don’t Miss These Hot Investment Deals!