Mapped: The Top 30 Most Valuable Real Estate Cities in the U.S.
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.
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%:
|1||New York||New York||$2,838|
|11||San Jose, Calif.||California||$568|
|25||Charlotte, N.C||North Carolina||$248|
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|
|7||New York||New York||$501,000|
|18||Salt Lake City||Utah||$312,000|
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.
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.
Visualized: The 4 Billion Year Path of Human Evolution
From single cells to bipedalism, humans have come a long way. Explore the fascinating journey of human evolution in this infographic.
The 4 Billion Year Path of Human Evolution
The story of human evolution is a fascinating one, stretching back in an unbroken chain over millions of years.
From the tiniest protocells to modern humans, our species has undergone a remarkable journey of adaptation, innovation, and survival.
In this article, we take a look at the key developmental stages in the evolution of life on Earth that led to the emergence of Homo sapiens—us!
From Protocells to People
Evolution is the result of millions of minute mutations over millions of years, but the evolutionary process that created us can bucketed into a few key categories.
1. Protocells and Early Microorganisms
The first life forms on Earth were simple, single-celled microorganisms known as protocells. These precursor cells lacked a nucleus or other membrane-bound organelles, and they had simple genetic proteins called RNA.
Over time, RNA complexified into the more stable DNA. Protocells slowly developed specialized organelles, becoming more complex microbes that would eventually form eukaryotes – the complex, unicellular organisms that would birth a diverse array of life forms, from simple sponges to complex animals.
2. The First Animals
Dickinsonia is the earliest example of an animal we know of. Though it was a simple, flat creature that lacked a mouth or digestive system, it symbolizes the first multicellular organism of substantial complexity.
Over time, the first sophisticated organ systems began to arise. Bilateral symmetry emerged, as well as early versions of the nervous and circulatory systems. Simple eyes, called eyespots, also appeared around the time that spinal cords and vertebrate creatures began to emerge.
3. Fish and Tetrapods
One of the most significant developments in the evolution of life was the transition from marine to terrestrial environments.
Up until 500 million years ago, all life was sequestered in the sea. Fish were the first vertebrates and introduced additional organs like stomachs, spleens, and body components like scales, teeth, blood, and more. Bony fish arose, and over time their development brought about sophisticated changes to the skeletal system, eventually producing “proto-limbs” that would enable organisms to walk on land.
Researchers are still unsure which specific organism might have first crawled on land, but candidates share these pre-limb characteristics. Tiktaalik is one popular candidate because it had specialized bones that suggest it could support its own weight while moving out of shallow waters.
These creatures eventually became the tetrapods (“four-footed”), and they had features like four-legs, a backbone, and lungs which could absorb oxygen from air. All the amphibians, reptiles, birds, and mammals that followed are descendants of the original tetrapods.
4. The First Mammals
Around 200 million years ago, the first mammals emerged. These early mammals were small, shrew-like creatures that lived alongside the dinosaurs. Over time, however, mammals evolved hair, specialized teeth, sweat glands to regulate body temperature, and a more efficient circulatory system.
Mammals also brought about features like nocturnality, mammary glands, external genitalia, and a variety of other features that distinguished them from other living species at the time, like birds or reptiles.
5. The Great Apes and First Homo Species
Around 7 million years ago, the first great apes emerged in Africa. These apes, such as orangutans, gorillas, and chimpanzees, were highly intelligent and social creatures that lived in complex communities. Over time, one lineage of apes would give rise to the first members of the genus Homo, which includes our own species.
The main developmental changes during this time were the full-time bipedalism of apes, increasing brain size, and advanced bone development that enabled dexterity for tool construction and hunting. Inventions like fire and clothing arose early in the Homo genus, and eventually complex language, hair loss, and dramatic facial changes would evolve.
Researchers struggle with resolving the exact progression of the Homo species. Many Homo species existed at the same time, and since many fossil records overlap, resolving which ones came first is an area of intense focus.
The Future of Human Evolution
As humans continue to evolve, we can expect to see significant changes in our physical and cognitive abilities over the next 10,000 years.
With the rise of technology and the increasing interconnectedness of the world, we may see a shift towards a more globalized and homogeneous human population, with less genetic diversity.
This has been described as “The Great Averaging”, where genetic diversity minimizes and we start to become more alike.
Other theories suggest that we might develop features like a taller, lighter build, with smaller brains and a less aggressive personality.
However, as with all evolution, these changes will be shaped by a complex interplay of genetic, environmental, and cultural factors. It is impossible to predict exactly how humans will evolve over the next 10,000 years, but one thing is certain: the future of human evolution will be shaped by the choices we make today.
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