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The Top 30 Most Valuable Real Estate Cities in the U.S.

16/12/2020

The Most Valuable Real Estate Cities in America

According to real estate tycoon Harold Samuel, there are three things that matter when it comes to real estate value—location, location, and location.

America’s property market is no exception to this rule. Depending on the city and its location, there are vast discrepancies in real estate value across the country.

Using the latest data from LendingTree, this graphic ranks the top 30 most valuable real estate cities in America. We’ll also evaluate the top cities based on median value of homes, and how COVID-19 has impacted the market.

The Most Valuable Real Estate Cities

Out of the $32.6 trillion of total real estate value included in LendingTree’s database, the top 30 cities account for almost 57%:

Rank	City	State	Total Value (in billions)
1	New York	New York	$2,838
2	Los Angeles	California	$2,289
3	San Francisco	California	$1,320
4	Chicago	Illinois	$906
5	Washington, D.C.	—	$826
6	Boston	Massachusetts	$815
7	Miami	Florida	$774
8	Seattle	Washington	$700
9	Dallas	Texas	$628
10	Philadelphia	Pennsylvania	$577

11	San Jose, Calif.	California	$568
12	San Diego	California	$564
13	Houston	Texas	$535
14	Atlanta	Georgia	$531
15	Riverside, Calif.	California	$485
16	Phoenix	Arizona	$484
17	Denver	Colorado	$439
18	Minneapolis	Minnesota	$383
19	Detroit	Michigan	$348
20	Portland, Ore.	Oregon	$319

21	Sacramento, Calif.	California	$318
22	Baltimore	Maryland	$301
23	Tampa, Fla.	Florida	$286
24	Austin, Texas	Texas	$248
25	Charlotte, N.C	North Carolina	$248
26	Orlando, Fla.	Florida	$233
27	Honolulu	Hawaii	$219
28	Nashville, Tenn.	Tennessee	$209
29	St. Louis	Missouri	$202
30	Las Vegas	Nevada	$191

New York has the highest real estate value in the country at $2.8 trillion—that’s around the size of the UK’s GDP in 2019. Close behind is Los Angeles at $2.3 trillion, while San Francisco ranks third at $1.3 trillion.

This may not come as a surprise, considering the popularity of these areas. New York and Los Angeles have the two highest city populations in the U.S., and San Francisco is the second most densely populated city in America (after New York). Historically, these areas have been notorious for their red-hot real estate markets, limited housing supply, and high costs of living.

However, while these cities take the top three spots when it comes to total real estate value, the ranking looks a bit different when comparing the median value of each city.

Most Valuable Cities, by Median Home Value

When it comes to median home value, San Jose claims the top spot at $1.1 million, while San Francisco places second at $959K:

Rank	City	State	Median Value of a Home
1	San Jose	California	$1,100,000
2	San Francisco	California	$959,000
3	Honolulu	Hawaii	$705,000
4	Los Angeles	California	$668,000
5	San Diego	California	$594,000
6	Oxnard	California	$586,000
7	New York	New York	$501,000
8	Boston	Massachusetts	$498,000
9	Seattle	Washington	$498,000
10	Washington, D.C.	—	$455,000

11	Denver	Colorado	$430,000
12	Sacramento	California	$410,000
13	Bridgeport	Connecticut	$410,000
14	Portland	Oregon	$401,000
15	Riverside	California	$365,000
16	Naples	Florida	$329,000
17	Austin	Texas	$323,000
18	Salt Lake City	Utah	$312,000
19	Providence	Rhode Island	$300,000
20	Miami	Florida	$297,000

21	Minneapolis	Minnesota	$294,000
22	Baltimore	Maryland	$284,000
23	Las Vegas	Nevada	$278,000
24	Phoenix	Arizona	$276,000
25	Raleigh	North Carolina	$271,000
26	Nashville	Tennessee	$265,000
27	Philadelphia	Pennsylvania	$246,000
28	Chicago	Illinois	$245,000
29	Orlando	Florida	$245,000
30	North Port	Florida	$244,000

The Bay Area leads the pack in terms of median value, but San Francisco and San Jose aren’t the only Californian cities to make the list. In fact, half of the top 10 cities are in the Golden State.

It’s important to note that these numbers are from January 2020, before the global pandemic triggered numerous societal and economic changes, including an accelerated migration to the suburbs from key urban centers like New York and San Francisco.

Source: www.visualcapitalist.com