Massachusetts has one of the highest median home prices in the U.S., according to a new report from Forbes Home. 

Home prices have continued to set new records month over month as demand continues to outpace inventory. In September, the Massachusetts median home price increased 6.2% to $600,000, setting a new record for the month.

Forbes Home ranked the 15 states with the highest median home prices using data from several sources. 

Massachusetts took the No. 5 spot with a median price of $307 per square foot that rivals No. 4’s Washington state. The report said homebuyers in the Bay Sate can expect to find a median home price of $518,000. Property taxes are also higher than the national average in the Bay State, at 1.17%. The report also noted the state’s median household income is slightly higher than in most states, at $86,700, and it has a cost of living index of 130.

Hawaii topped the list with an average home price of $730,000. California took the No. 2 spot at $683,000, and New York rounded out the top three.