Top 30 Most Valuable Real Estate Cities in America

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—you guessed it—location, there are vast discrepancies in real estate value across the country.

Usingthe 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%:

RankCityStateTotal Value
(in billions)
1New YorkNew York$2,838
2Los AngelesCalifornia$2,289
3San FranciscoCalifornia$1,320
4ChicagoIllinois$906
5Washington, D.C.$826
6BostonMassachusetts$815
7MiamiFlorida$774
8SeattleWashington$700
9DallasTexas$628
10PhiladelphiaPennsylvania$577
11San Jose, Calif.California$568
12San DiegoCalifornia$564
13HoustonTexas$535
14AtlantaGeorgia$531
15Riverside, Calif.California$485
16PhoenixArizona$484
17DenverColorado$439
18MinneapolisMinnesota$383
19DetroitMichigan$348
20Portland, Ore.Oregon$319
21Sacramento, Calif.California$318
22BaltimoreMaryland$301
23Tampa, Fla.Florida$286
24Austin, TexasTexas$248
25Charlotte, N.CNorth Carolina$248
26Orlando, Fla.Florida$233
27HonoluluHawaii$219
28Nashville, Tenn.Tennessee$209
29St. LouisMissouri$202
30Las VegasNevada$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:

RankCityStateMedian Value of a Home
1San JoseCalifornia$1,100,000
2San FranciscoCalifornia$959,000
3HonoluluHawaii$705,000
4Los AngelesCalifornia$668,000
5San DiegoCalifornia$594,000
6OxnardCalifornia$586,000
7New YorkNew York$501,000
8BostonMassachusetts$498,000
9SeattleWashington$498,000
10Washington, D.C.$455,000
11DenverColorado$430,000
12SacramentoCalifornia$410,000
13BridgeportConnecticut$410,000
14PortlandOregon$401,000
15RiversideCalifornia$365,000
16NaplesFlorida$329,000
17AustinTexas$323,000
18Salt Lake CityUtah$312,000
19ProvidenceRhode Island$300,000
20MiamiFlorida$297,000
21MinneapolisMinnesota$294,000
22BaltimoreMaryland$284,000
23Las VegasNevada$278,000
24PhoenixArizona$276,000
25RaleighNorth Carolina$271,000
26NashvilleTennessee$265,000
27PhiladelphiaPennsylvania$246,000
28ChicagoIllinois$245,000
29OrlandoFlorida$245,000
30North PortFlorida$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.

Suburban Shuffle

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.

This mass exodus has negatively impacted sales activity. In fall 2020, or example, home sales in New York dropped by 50% compared to last year.

In contrast, places like Honolulu have seen significant growth in home sales—in September 2020, single-family home sales rose by 12.7% compared to last year. Some experts believe COVID has been a key factor driving this growth, as more people are able to work from anywhere, thanks to remote work.

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The post Mapped: The Top 30 Most Valuable Real Estate Cities in the U.S. appeared first on Visual Capitalist.

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