2007 COLDWELL BANKER® HOME PRICE COMPARISON INDEX REVEALS THAT $2.1
MILLION SEPARATES BEVERLY HILLS FROM KILLEEN, TEXAS
Beverly Hills, Calif., and Killeen, Texas, Rank As Most Expensive and Most Affordable
U.S. Markets, Respectively, in Annual Coldwell Banker Study
Six of 10 Most Affordable Markets in Study Support Major U.S. Military Installations
2007 HPCI Includes 77 International Markets in 28 Nations Outside U.S.
PARSIPPANY, N.J. (Sept. [26], 2007) – “Location. Location. Location.” The age-old adage that defines
home prices equates to a $2.1 million difference between the nation’s most expensive and affordable
housing markets according to the 2007 Coldwell Banker® Home Price Comparison Index (HPCI). This
annual “apples to apples” comparison of similar middle management homes in 317 U.S. markets finds
that Beverly Hills repeats as the most expensive market in the nation. An average 2,200 square foot, 4
bedroom, 2 ½ bath home in Beverly Hills would cost $2.21 million. Yet, more than 1,400 miles away
from the glitz of Rodeo Drive, the Beverly Wilshire Hotel and Spago sits Killeen, Texas, the nation’s most
affordable studied market where a home with similar characteristics would cost $136,725. Killeen
residents rejoice in their fishing, hunting, boating and Friday Night Lights-type high school football
passions while embracing their role as a support system for the family and troops based at Fort Hood.
Killeen is not the only military community to score well on the HPCI’s most affordable list. In fact, six of
the nation’s 10 most affordable markets are also home to or located in close proximity to major U.S.
military posts.
Serving as a “snapshot” study, the Coldwell Banker HPCI evaluates average home values for select
2,200 square foot single-family dwellings with four bedrooms, two and one-half baths, a family room (or
equivalent) and a two-car garage1 in 394 markets across the United States, Puerto Rico, Canada and a
sampling of countries/territories outside