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

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Top 30 Most Valuable Real Estate Cities in America

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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%:

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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Economy

Economic Growth Forecasts for G7 and BRICS Countries in 2024

The IMF has released its economic growth forecasts for 2024. How do the G7 and BRICS countries compare?

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Faded horizontal bar chart visualization of G7 and BRICS countries' real GDP growth forecasts for 2024.

G7 & BRICS Real GDP Growth Forecasts for 2024

The International Monetary Fund’s (IMF) has released its real gross domestic product (GDP) growth forecasts for 2024, and while global growth is projected to stay steady at 3.2%, various major nations are seeing declining forecasts.

This chart visualizes the 2024 real GDP growth forecasts using data from the IMF’s 2024 World Economic Outlook for G7 and BRICS member nations along with Saudi Arabia, which is still considering an invitation to join the bloc.

Get the Key Insights of the IMF’s World Economic Outlook

Want a visual breakdown of the insights from the IMF’s 2024 World Economic Outlook report?

This visual is part of a special dispatch of the key takeaways exclusively for VC+ members.

Get the full dispatch of charts by signing up to VC+.

Mixed Economic Growth Prospects for Major Nations in 2024

Economic growth projections by the IMF for major nations are mixed, with the majority of G7 and BRICS countries forecasted to have slower growth in 2024 compared to 2023.

Only three BRICS-invited or member countries, Saudi Arabia, the UAE, and South Africa, have higher projected real GDP growth rates in 2024 than last year.

GroupCountryReal GDP Growth (2023)Real GDP Growth (2024P)
G7🇺🇸 U.S.2.5%2.7%
G7🇨🇦 Canada1.1%1.2%
G7🇯🇵 Japan1.9%0.9%
G7🇫🇷 France0.9%0.7%
G7🇮🇹 Italy0.9%0.7%
G7🇬🇧 UK0.1%0.5%
G7🇩🇪 Germany-0.3%0.2%
BRICS🇮🇳 India7.8%6.8%
BRICS🇨🇳 China5.2%4.6%
BRICS🇦🇪 UAE3.4%3.5%
BRICS🇮🇷 Iran4.7%3.3%
BRICS🇷🇺 Russia3.6%3.2%
BRICS🇪🇬 Egypt3.8%3.0%
BRICS-invited🇸🇦 Saudi Arabia-0.8%2.6%
BRICS🇧🇷 Brazil2.9%2.2%
BRICS🇿🇦 South Africa0.6%0.9%
BRICS🇪🇹 Ethiopia7.2%6.2%
🌍 World3.2%3.2%

China and India are forecasted to maintain relatively high growth rates in 2024 at 4.6% and 6.8% respectively, but compared to the previous year, China is growing 0.6 percentage points slower while India is an entire percentage point slower.

On the other hand, four G7 nations are set to grow faster than last year, which includes Germany making its comeback from its negative real GDP growth of -0.3% in 2023.

Faster Growth for BRICS than G7 Nations

Despite mostly lower growth forecasts in 2024 compared to 2023, BRICS nations still have a significantly higher average growth forecast at 3.6% compared to the G7 average of 1%.

While the G7 countries’ combined GDP is around $15 trillion greater than the BRICS nations, with continued higher growth rates and the potential to add more members, BRICS looks likely to overtake the G7 in economic size within two decades.

BRICS Expansion Stutters Before October 2024 Summit

BRICS’ recent expansion has stuttered slightly, as Argentina’s newly-elected president Javier Milei declined its invitation and Saudi Arabia clarified that the country is still considering its invitation and has not joined BRICS yet.

Even with these initial growing pains, South Africa’s Foreign Minister Naledi Pandor told reporters in February that 34 different countries have submitted applications to join the growing BRICS bloc.

Any changes to the group are likely to be announced leading up to or at the 2024 BRICS summit which takes place October 22-24 in Kazan, Russia.

Get the Full Analysis of the IMF’s Outlook on VC+

This visual is part of an exclusive special dispatch for VC+ members which breaks down the key takeaways from the IMF’s 2024 World Economic Outlook.

For the full set of charts and analysis, sign up for VC+.

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