Purchasing a home is one of the most important investments there is. More than a place to live, homeownership is an asset with the potential to tremendously rise in value. But with home prices reaching record heights, affordability plays a huge role for buyers.

The typical home value in the United States was $367,369 in June, 0.2% higher than the year before.

High mortgage rates are also making monthly payments more expensive; as of July 17, the

sits at 6.75%.

Although home prices have inflated all across the U.S., there are some cities that command a higher price tag than others. Location, size, age, and condition are all contributing factors to home value.

Stacker compiled a list of cities with the most expensive homes in the Sebastian metro area using data from Zillow. Charts show the monthly typical home value since January 2018. All 4 cities and towns with data available were included in the list.

Stacker

#4. Fellsmere, FL

- Typical home value: $236,260
- 1-year price change: -4.3%
- 5-year price change: +48.1%

Stacker

#3. Sebastian, FL

- Typical home value: $350,117
- 1-year price change: -4.2%
- 5-year price change: +48.7%

Stacker

#2. Vero Beach, FL

- Typical home value: $367,885
- 1-year price change: -5.4%
- 5-year price change: +49.5%

Stacker

#1. Indian River Shores, FL

- Typical home value: $1,386,359
- 1-year price change: -4.8%
- 5-year price change: +76.6%