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Ranked: Share of Million-Dollar Homes in U.S. Cities

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Charting U.S. cities by share of million-dollar homes.

Share of Million-Dollar Homes in U.S. Cities

Nearly one-in-ten U.S. homes are now worth at least $1 million.

Analysis from Redfin has found that 8.2% of homes in America were million-dollar homes as of June 2023, nearing the June 2022 peak of 8.6%.

In the graphic above, we use Redfin and MLS data to highlight the top 15 U.S. cities by their percentage of million-dollar homes, based on June 2023 home values in metropolitan statistical areas (MSA).

Top 15 U.S. Metros by Share of Million-Dollar Residences

California has seen an exodus of residents over the last few years due to many factors, but the state still has the highest share of million-dollar homes in the country by far.

Cities in California claimed the top six spots by share of million-dollar homes in June 2023. Here are the top 15, along with the change since June 2022 in percentage points (p.p.).

RankU.S. Metro$1M+ Homes
(June 2023)
Annual
Change
1San Francisco, CA81%-3 p.p.
2San Jose, CA80%-3 p.p.
3Anaheim, CA55%-2 p.p.
4Oakland, CA49%-6 p.p.
5San Diego, CA40%-4 p.p.
6Los Angeles, CA38%-5 p.p.
7Honolulu, HI38%-4 p.p.
8Oxnard, CA35%-6 p.p.
9Salt Lake City, UT33%0 p.p.
10Seattle, WA33%-6 p.p.
11New York, NY29%0 p.p.
12Bridgeport, CT26%3 p.p.
13Boston, MA22%1 p.p.
14Nassau County, NY16%1 p.p.
15Miami, FL14%1 p.p.

First is San Francisco, where 81% of homes were worth at least $1 million. This is actually lower than the year previous, which saw 84.2% of homes cost more than one million dollars.

Neighboring San Jose, home of Silicon Valley, was second place with million-dollar homes accounting for 80% of residences. The entire San Francisco Bay Area is the most expensive real estate market in America, with Oakland also having 49% of homes costing $1 million or more.

Southern California also featured prominently, with Anaheim (55%) actually outranking San Diego (40%) and Los Angeles (38%). The first non-California metro to make the rankings was Hawaii’s Honolulu at 38%.

Other regions to feature at the top of the rankings were the Western U.S. (Seattle and Salt Lake City) and the Northeast (New York City, Bridgeport, and Boston). Miami was the sole entry from the South, with far lower shares of million-dollar homes in major metros like Dallas-Fort Worth, Atlanta, and Phoenix.

Share of Million-Dollar Homes Doubled Since 2019

One reason for the increase in housing prices is intense competition for those trying to enter the housing market.

Many existing homeowners are opting to stay put in their current residences to retain their relatively low mortgage rates, with the U.S. 30-year fixed-rate mortgage reaching its highest level since 2002.

Subsequently, the high cost of financing has also caused development to slow down. But high demand from new potential homeowners has propelled prices to new heights. According to Redfin, the share of homes worth seven figures has doubled since before the pandemic.

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Sports

Ranked: Which NHL Team Takes Home the Most Revenue?

The Oilers are the second-highest earning team in the NHL and the Panthers are 26th. We show the top teams in the NHL by revenue in 2023.

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Visualization of NHL team revenues

Which NHL Team Takes Home the Most Revenues?

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

This graphic shows every NHL team’s revenue from the 2022/23 season using data from Forbes, compiled by JP Morgan Asset Management.

Ranked: The Highest-Earning NHL Teams

As the final round of the Stanley Cup Playoffs wears on, two teams on different ends of the revenue spectrum face off.

Despite representing a much smaller city than the other teams at the top of the ranking, the Edmonton Oilers have the second highest revenue in the league at $281 million. The Oilers have seen the fastest revenue growth over the past five years (13%) as the team has improved.

Team2022-23 Season RevenueValuation
Toronto Maple Leafs$281M$2.8B
Edmonton Oilers$281M$1.9B
Los Angeles Kings$279M$2.0B
New York Rangers$265M$2.7B
Montreal Canadiens$265M$2.3B
New Jersey Devils$240M$1.5B
Boston Bruins$239M$1.9B
Vegas Golden Knights$233M$1.1B
Chicago Blackhawks$228M$1.9B
Philadelphia Flyers$219M$1.7B
Washington Capitals$218M$1.6B
Dallas Stars$210M$1.1B
Pittsburgh Penguins$207M$1.2B
Detroit Red Wings$199M$1.2B
Vancouver Canucks$198M$1.3B
Seattle Kraken$197M$1.2B
Tampa Bay Lightning$196M$1.3B
Minnesota Wild$185M$1.1B
St Louis Blues$184M$1.0B
New York Islanders$183M$1.6B
Calgary Flames$183M$1.1B
Colorado Avalanche$182M$1.2B
Nashville Predators$180M$1.0B
Carolina Hurricanes$177M$0.8B
Anaheim Ducks$164M$0.9B
Winnipeg Jets$162M$0.8B
Florida Panthers$161M$0.8B
Buffalo Sabres$159M$0.8B
San Jose Sharks$158M$0.9B
Columbus Blue Jackets$151M$0.8B
Ottawa Senators$128M$1.0B
Arizona Coyotes$120M$0.5B

In the 2022/23 season, the Florida Panthers pulled off a major upset in the first round of the playoffs and fought their way to the finals before losing to the Vegas Golden Knights.

Despite the success last season, the Panthers still find themselves in the bottom six in this ranking, with $161 million in revenue. The team also has the second lowest operating income in the league, after Ottawa. Florida is an emerging hockey market though, with revenue increasing 9% over the past five years.

Other Hockey Revenue Highlights

  • Along with the Oilers, the Toronto Maple Leafs sit at the top of the revenue ranking. There is a key difference though: the Maple Leafs have a higher valuation-to-revenue multiple (10x vs 6.6x).
  • Professional hockey remains attractive to advertisers. In the 2022/23 season, team-specific sponsorship revenue was 36% higher than in 2018/19.
  • The team with the lowest revenue, the Arizona Coyotes, will be moving to Utah next season.
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