2021-01-14 The Number of “Million-Dollar Cities” spiked sharply in 2020
| By:
Brad Beckett
The Number of “Million-Dollar Cities” spiked sharply in 2020
by Brad Beckett
Zillow says that the typical home value in the U.S. is about $263k, however the number of "million-dollar cities spiked sharply in 2020. According to their analysis, million dollar cities are those with a typical home value of at least $1 million. Zillow says at the end of 2020 there were 312 of these cities – 45 more than in 2019, which Zillow says was fueled by the Coronavirus pandemic. So where are these cities? As you might have guessed, more than 70% of them are concentrated in nine coastal metros, primarily San Francisco, New York and Los Angeles.
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