4BR House: $68,000 in Detroit, $1.8M in the O.C.

Housing prices, house, home, dollar sign AP / CBS

The average price of a four-bedroom, two-bathroom home ranges from nearly $2 million in America's most expensive local market to under $70,000 in the most affordable area, according to a report released by real estate company Coldwell Banker.

The company compiled thousands of listings in cities and towns across the country, comparing the price of identical-sized houses over a seven-month period.

The most expensive market was Newport Beach, Calif. - the Orange County town portrayed in television shows like "The O.C." - where a 4BR-2BA cost an average of $1.83 million. The cheapest was recession-stricken Detroit, where a similar house goes from just $68,000.

California was home to six of the 10 most expensive markets, while Michigan boasted three of the 10 cheapest. All 10 of the least expensive markets were in the Midwest.

Across the study, the average price for a four-bedroom, two-bath house was $353,000. Prices averaged less than $200,000 in about 30 percent of markets studied.

10 Most Expensive Markets:

1. Newport Beach, Calif.; Average listing price: $1.83 million
2. Palo Alto, Calif.; Average listing price: $1.48 million
3. Rye, N.Y.; Average listing price: $1.33 million
4. San Francisco, Calif.; Average listing price: $1.33 million
5. La Jolla, Calif.; Average listing price: $1.21 million
6. Greenwich, Conn.; Average listing price: $1.19 million
7. Wellesley, Mass.; Average listing price: $1.08 million
8. Pasadena, Calif.; Average listing price: $1.04 million
9. Honolulu, Hawaii; Average listing price: $1.03 million
10. Santa Barbara, Calif.; Average listing price: $1.02 million

10 Most Affordable Markets:

1. Detroit, Mich.; Average listing price: $68,007
2. Grayling, Mich.; Average listing price: $84,625
3. Sioux City, Iowa; Average listing price: $85,967
4. Cleveland, Ohio; Average listing price: $87,240
5. Muncie, Ind.; Average listing price: $100,314
6. Norfolk, Neb.; Average listing price: $107,814
7. Kansas City, Mo.; Average listing price: $112,449
8. Canton, Ohio; Average listing price: $114,325
9. Port Huron, Mich.; Average listing price: $116,267
10. Topeka, Kan.; Average listing price: $116,343
4BR House: $68,000 in Detroit, $1.8M in the O.C
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