How Much Does a Home Appraisal Cost? [2025 Data]

The costs of buying a home add up quickly, so budgeting for them all from the start helps set your expectations. Getting an appraisal is one of the first steps you take once the buying process begins. Averaging $358, appraisals determine the home's current market value (what it's worth) by assessing its condition and comparing it to similar homes in the neighborhood. Learn about home appraisal costs and what they mean for your homeowner journey.

Home Appraisal Cost Near You

The cost of a local home appraisal varies depending on your location and other factors. The national average cost of appraising a home is $358, while the typical range for homeowners is between $314 at the low end and $423 at the high end.

Here is a range of average home appraisal costs throughout the country:

Home Appraisal Cost by Home Type

Appraisal fees are generally higher for more expensive homes and properties, and you can estimate appraisal costs around 0.15% to 0.30% of the home’s value. When broken down by the average cost per home type, average appraisal costs look like this:

Appraisal Cost for Single-Family Homes (Standard Loan)

A typical single-family home with a conventional mortgage will cost between $300 and $400 to appraise. This type of home can vary greatly in size, so that would account for part of the price.

A condo is considered a single-family home, even though it is part of a larger multi-family property. The appraisal price is between $300 and $500. It can be easier to appraise a condo due to the immediacy of comparable properties. 

Appraisal Cost for Single-Family Homes (Government-Backed Loan)

If you qualify for a government-backed loan, your appraisal costs may be higher. A home financed by an FHA (Federal Housing Administration), VA (Department of Veterans Affairs), or USDA (U.S. Department of Agriculture) loan costs between $400 and $900 to appraise. The increase in price is due to stricter guidelines for these loan programs, which require more work on the appraiser’s part to ensure that the property is in compliance. 

Appraisal Cost for Multi-Family Homes

A multi-family home appraisal can cost anywhere between $600 and $1,000, depending on the number of units. The appraiser will evaluate the building using a rental income approach because this has a major impact on its value to potential buyers. To assess the fair market value of the home, the appraiser will evaluate each unit for its potential annual income.

Appraisal Cost for Apartment Buildings

It’s important to note that while an apartment building is residential in terms of its occupants, the property itself is considered commercial because of its income potential. Depending on the size and number of units, an apartment building appraisal starts at $1,500 and can rise up to $3,000 or more.

Home Appraisal Cost Breakdown

The following factors will impact the final cost of your home appraisal.

Square Footage

It takes longer for a home appraiser to inspect a larger home with more rooms, levels, and overall square footage than a smaller home. The relatively higher cost to appraise a larger home reflects the additional time and effort.

Cost of Living

Appraisal costs typically fluctuate depending on the local cost of living. For example, a home appraisal will cost more in a large, populated area than in a small, rural town.

Condition of Appraised Home 

The house's current condition will determine how easy or difficult it is for an appraiser to complete an evaluation. Appraisers must spend more time and effort evaluating the value of a significantly damaged home than a home in good condition. 

Number of Comparables 

Comparable or comp homes are recently sold homes in the neighborhood that are similar to the one being appraised. Appraisals can be straightforward when immediate comparisons are available, but fewer comps mean appraisers must take more time to research and evaluate the property value. 

Market Conditions 

The demand for home appraisals is higher in a competitive real estate market. Therefore, you can expect to pay more for an appraisal in a hot market than in a slow market with low demand.

Loan Type

The cost of a home appraisal depends on the type of loan used to purchase the home. Conventional loan appraisals are the most straightforward, meaning they usually cost less. Home appraisals cost more for government-backed loans, like VA, FHA, or USDA loans. For example, the USDA loan appraisal fee for a single-family home is $775, compared to an overall average home appraisal fee of $360.

Report Complexity

A home appraisal report includes a description of the home’s exterior and interior, photos of the house and comparable properties, the home’s square footage, local housing sales data, and public land and tax records.

Some homes may be more complex than others and require additional details. For example, if the home’s lot size is abnormally large for the area or the architectural style is unique, the appraiser must include additional data to make their conclusions in the appraisal report. A more complex report will cost more than a simple, straightforward one.

What Does a Home Appraisal Include?

To determine a home's value and verify its safety and livability, an appraiser evaluates its interior and exterior for amenities, dimensions, condition, and potential safety hazards. After the appraiser walks through the property, they review nearby comparable properties, known as comps, to decide the home’s appraised value.

Home appraisers look closely at the home’s interior features, such as the condition of the floors and walls, as well as the exterior features, like the types of windows and outdoor amenities. They also take into account recent renovations or home upgrades. Location is also important in the appraisal, and the nearby neighborhood and streets can increase or decrease the property's value.

Home Appraisal vs. Home Inspection: What’s the Difference?

Home appraisals and home inspections carry some overlap, but they have a few key differences. A home appraisal informs a homeowner of the value of their home so they can correctly set an asking price. A home appraisal is for the benefit of the bank or mortgage lender. Banks are unwilling to take on the risk of lending more money than a property is valued at, as it could create issues later if the loan-holder defaults on the mortgage.

A home inspection is a thorough evaluation of a property to determine whether there are any structural or system issues. Typically done at the buyer's request, a home inspection enables an informed decision before finalizing the purchase of a home. Sellers may also hire a local home inspector for a pre-listing inspection to determine any repairs they wish to make before putting their home on the market.

Why Do You Need a Home Appraisal?

Appraisals help determine whether the home's price is appropriate for its location, features, and condition. Nearly every property deal requires an appraisal before finalizing, including buying a new home and refinancing. Mortgage lenders use appraisals to ensure that borrowers aren't buying a house for more than its appraised value.

If the buyer can't pay the mortgage and the home goes into foreclosure, the mortgage lender will sell the home to recoup their loan money. Essentially, the appraisal protects the bank from lending out more than the home is worth, allowing it to recoup costs if the buyer can no longer afford the loan. 

How Long Does a Home Appraisal Take?

To complete the appraisal process, your appraiser will inspect the home, both inside and out, to evaluate its materials, features, fixtures, and renovations. The appraiser then reviews comparable properties to see how the home's value compares to similar homes in the neighborhood. Finally, they'll write an appraisal report of their findings. The entire process typically takes seven to 10 days, depending on the property, location, and the appraiser's schedule. 

Home Appraisal for Buyers vs. Sellers 

Home appraisals are unavoidable if a home loan is involved. If you’re working with a lender to purchase a home, that lender will require a home appraisal as part of the loan approval process. Ideally, the appraiser will value the home for as much as or more than the contract price. If the appraisal amount is lower than your accepted offer, the lender may not approve the loan for the amount you need to borrow, leaving you on the hook for the additional costs.

The only way for a seller to avoid a home appraisal is to accept an all-cash deal with no mortgage lender involved. However, cash offers aren’t the norm, so it’s risky to list your home with the assumption that you’ll get one. Cash buyers might still request an appraisal to ensure they’re not paying more than the home is worth.

Home appraisals can also help sellers determine their home’s listing price. If you list your home for more than its appraised value, you may turn buyers off because it’ll be harder for them to get a loan for the full selling price. But if you list your home too far below its appraised price, you may not get the offer amounts you’re hoping for.

What to Do About a Low Home Appraisal

If the home you want to buy receives a low appraisal due to major defects, safety issues, or other things that hurt an appraisal, you still have some options. Both you and the seller likely want the deal to move forward, so you can often leverage a low appraisal to negotiate a lower price from the seller. If the seller refuses to lower the price, you can always ask for a second opinion from another appraiser. Appraisals are somewhat subjective, so two professionals might appraise a home for two different values. 

As a seller, if you feel your home's value is higher than your appraisal, you can always seek a second opinion. You can also make a case to your appraiser for why the home is worth more by highlighting any renovations or other investments you put into the property. If the appraisal still won't budge, your best bet for a successful deal is to lower your home's selling price. 

How Angi Gets Its Cost Data

Home is the most important place on earth, which is why Angi has helped more than 150 million homeowners transform their houses into homes they adore. To help homeowners with their next project, Angi provides readers with the most accurate cost data and upholds strict editorial standards. We’ve surveyed thousands of real Angi customers about their project costs to develop the pricing data you see, so you can make the best decisions for you and your home. We pair this data with research from reputable sources, including the U.S. Bureau of Labor Statistics, academic journals, market studies, and interviews with industry experts—all to ensure our prices reflect real-world projects. 

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