New Construction Homes Cost $52K More Than the Typical U.S. Home
New homes come at a steep premium nationwide, but the gap varies wildly by market, from over $600,000 in Miami to below typical home prices in four major metros.
ST. LOUIS, June 16, 2026 /PRNewswire/ -- Nationally, the median new construction home sells for $409,565, compared to $357,000 for all homes on the market, a difference of $52,565, according to a new report from Clever Real Estate, a St. Louis-based real estate company.
The price gap between new and existing homes has widened over time. In the past five years, new home prices have climbed 21.6%, well ahead of the 13.3% increase across all homes for sale.
Despite increasing prices, new construction makes up a shrinking share of the market. Newly built homes accounted for just 571,213 of the 3.7 million sales in 2025, a 15% share that has slipped from 20% in 2023.
The largest gaps between new and existing homes are scattered across the country. Miami leads with a $600,000 premium, followed by Los Angeles ($387,495), Cleveland ($366,350), New York ($337,792), and Milwaukee ($317,450).
Although the steepest premiums are mostly found in high-cost markets, Cleveland stands out as an exception. At only $205,000, the median home price in Cleveland is well below the national figure ($357,000). That signals new construction in some affordable metros is geared toward higher-end homes rather than broadly expanding supply.
Only four metros run counter to the national trend, with new construction priced below the typical home:
- San Francisco, CA (-$85,000)
- Austin, TX (-$72,041)
- Honolulu, HI (-$67,298)
- Cape Coral, FL (-$20,000)
Even so, these are not bargain markets. San Francisco's median home price tops $1.08 million and Honolulu's reaches $745,773, both far above the national figure of $357,000.
For buyers who want the most new construction options, Raleigh, North Carolina, leads the country, with 66% of sales going to newly built homes. San Antonio follows at 64% and Boise, Idaho, at 63%.
The most affordable new homes are in McAllen, Texas, at a median of $263,000, with nine of the 10 cheapest markets for new construction located in the South.
New home prices have eased slightly since 2025, slipping 3.9%, but they remain well above where they stood five years ago, keeping new construction out of reach for many buyers.
Read the full report at: listwithclever.com/research/new-home-construction-2026
About Clever Real Estate
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Contact:
Nicole Lehman
Clever Real Estate
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724-719-0406
SOURCE Clever Real Estate
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