Over half of home buyers consider air conditioning an essential feature – and those that want it are willing to pay a premium for it in a new home.
At the national level, 66.1% of homes listed for sale and sold in the past year had central air conditioning. (Las Vegas has the highest share of homes with central air conditioning at the regional level at 99.1%.) On average, these homes sold for 2.5% more than comparable homes without air conditioning, or $5,486 for the typical median-valued home.
San Antonio, Texas has the highest central air premium in the nation at 5.8%, or $10,757 on a median-priced home. Cincinnati comes in second at 5.7% ($9,092), followed by Detroit at 5.5% ($8,470.)
Because central air is so prevalent in the Midwest and Southwest, homes without air conditioning are unusual, which is part of the reason the premium in these areas is so high. In some large, expensive West Coast markets such as Seattle, San Jose, and Los Angeles, cool air commands virtually no premium, likely because highly competitive local market conditions swamp the value premium for amenities such as central air.
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