v256.0 · real-estate · US · verified 2026-04
United States real-estate market
Real-estate market in United States for foreign buyers — ownership rules, residency-by-investment, average prices, mortgage availability, transaction costs, rental yields, top brokerages, recent regulatory changes.
Market size
USD 50T+ residential market (2024) — world's largest
Currency
USD
Foreign-buyer access
No general federal restrictions · Some states restricting foreign agricultural land (Florida, Texas, etc. sin...
Rental yields
Major metros (NYC, SF, LA): 2-4% · Rust Belt (Cleveland, Pittsburgh): 8-12% · Sun Belt (Phoenix, Tampa, Char...
Ownership rules + RBI pathway
| Foreign-buyer rules | No general federal restrictions · Some states restricting foreign agricultural land (Florida, Texas, etc. since 2023) · FIRPTA withholding 15% on disposition · FinCEN GTO (Geographic Targeting Orders) for cash purchases in major metros |
| Residency-by-investment | EB-5 Investor Visa — USD 1,050,000 (regular area) / USD 800,000 (Targeted Employment Area or rural/infrastructure) · Must create 10 full-time US jobs · Indian/Chinese-born face long backlog · Real-estate alone doesn't qualify — must be active business investment via Regional Center or direct |
| Regulator | State-by-state (no federal real-estate regulator) · NAR (National Association of Realtors) · CFPB (mortgages) · FinCEN (AML) |
Average prices
| Capital city | Washington DC: USD 8,000-15,000/sqm (NW prime) · Median single-family DC: ~USD 950K · NYC Manhattan: USD 15,000-40,000/sqm · SF: USD 12,000-25,000/sqm · LA: USD 8,000-18,000/sqm |
| Secondary markets | Miami: USD 6,000-15,000/sqm · Boston: USD 9,000-18,000/sqm · Seattle: USD 7,000-13,000/sqm · Austin: USD 5,000-10,000/sqm · Houston/Dallas: USD 3,500-7,000/sqm |
| Rental yields | Major metros (NYC, SF, LA): 2-4% · Rust Belt (Cleveland, Pittsburgh): 8-12% · Sun Belt (Phoenix, Tampa, Charlotte): 5-8% · BTL strong in mid-tier metros |
Mortgage + transaction costs
| Mortgage availability | Foreign buyers (no US credit): 50-65% LTV via international-buyer programs (HSBC, Chase Private Client, BMO) · US tax-residents: up to 95% LTV with FHA · Rates 6-8% (2024 high) · 15/30-year fixed dominant |
| Transaction costs | Closing costs 2-5% buyer-side (lender fees, escrow, title, inspection) · Realtor commission ~5-6% seller-pays traditionally (NAR settlement 2024 unbundling) · Transfer/recording taxes state-specific · Property tax annual 0.5-2.5% varies |
| Top brokerages | Zillow, Redfin, Realtor.com (portals) · Compass, Coldwell Banker, RE/MAX, Berkshire Hathaway, Sotheby's, Christie's · NAR settlement 2024 changing commission structure |
Recent changes (2023-2026)
2024: NAR commission lawsuit settlement effective Aug 2024 — unbundling buyer-broker commissions · FinCEN GTO expanded to cover cash deals nationwide · Florida + Texas restricting Chinese/Cuban/Iranian/Russian/North Korean/Syrian agricultural land · Mortgage rates 6-8% post Fed hikes · Insurance crisis in Florida/California (Allstate/State Farm partial exits) · Climate-risk premium pressure
Strengths
- World's deepest + most liquid real-estate market
- Strong rental yields outside coastal-prime metros
- Multiple state options (no state income tax in FL, TX, NV, TN, WA, SD, AK)
- 30-year fixed mortgages unique to US
- Active 1031-exchange tax-deferred swap rules
- English-language paperwork
Drawbacks
- FIRPTA 15% withholding on disposition + state withholding
- Foreign-buyer mortgage rates + LTV restrictive
- US CITIZENSHIP-BASED TAX for green-card holders
- Property taxes annual 0.5-2.5%
- Florida/California insurance availability crisis
- State agricultural-land restrictions for some foreign nationals
Source: official United States regulator page · Last verified 2026-04
See also: United States country profile · real-estate atlas