PR Newswire
CHARLOTTE, N.C., July 1, 2020
CHARLOTTE, N.C., July 1, 2020 /PRNewswire/ -- Real estate wealth is not evenly distributed across the country and is largely concentrated in large cities. But it begs the question: What are the most valuable cities in America? To find out, LendingTree analyzed the total value of residential real estate in American cities. The real estate values come from the My LendingTree property value database, which is a collection of real estate data of more than 155 million U.S. properties. The total value of residential real estate in the database was $32.6 trillion, close to the Federal Reserve's estimate of total residential real estate value of $32.9 trillion.
Key findings
Although LendingTree's list shows the top 50 cities, the value of every metro area in the U.S. was calculated. The least valuable metro was Battle Creek, Mich., with real estate valued at $989 million.
Rank | City | Total Value | Median Value | Closest Company Equivalent | Closest Country Equivalent |
1 | New York | $2,838 | $501,000 | Apple Inc + Microsoft Corp | United Kingdom |
2 | Los Angeles | $2,289 | $668,000 | Amazon.com Inc + Alphabet Inc | Italy |
3 | San Francisco | $1,320 | $959,000 | Microsoft Corp | Mexico |
4 | Chicago | $906 | $245,000 | Alphabet Inc | Netherlands |
5 | Washington, D.C. | $826 | $455,000 | Alphabet Inc | Saudi Arabia |
6 | Boston | $815 | $498,000 | Alphabet Inc | Saudi Arabia |
7 | Miami | $774 | $297,000 | Facebook Inc | Saudi Arabia |
8 | Seattle | $700 | $498,000 | Facebook Inc | Switzerland |
9 | Dallas | $628 | $243,000 | Facebook Inc | Taiwan |
10 | Philadelphia | $577 | $246,000 | Facebook Inc | Taiwan |
11 | San Jose, Calif. | $568 | $1,100,000 | Berkshire Hathaway Inc | Poland |
12 | San Diego | $564 | $594,000 | Berkshire Hathaway Inc | Poland |
13 | Houston | $535 | $211,000 | Berkshire Hathaway Inc | Thailand |
14 | Atlanta | $531 | $227,000 | Berkshire Hathaway Inc | Thailand |
15 | Riverside, Calif. | $485 | $365,000 | JPMorgan Chase & Co | Iran |
16 | Phoenix | $484 | $276,000 | JPMorgan Chase & Co | Iran |
17 | Denver | $439 | $430,000 | JPMorgan Chase & Co | Argentina |
18 | Minneapolis | $383 | $294,000 | Johnson & Johnson | Ireland |
19 | Detroit | $348 | $172,000 | Mastercard Inc | Denmark |
20 | Portland, Ore. | $319 | $401,000 | Walmart Inc | Bangladesh |
21 | Sacramento, Calif. | $318 | $410,000 | Procter & Gamble Co/The | Bangladesh |
22 | Baltimore | $301 | $284,000 | Bank of America Corp | Egypt |
23 | Tampa, Fla. | $286 | $216,000 | Intel Corp | Pakistan |
24 | Austin, Texas | $248 | $323,000 | Coca-Cola Co/The | Czech Republic |
25 | Charlotte, N.C | $248 | $223,000 | Coca-Cola Co/The | Czech Republic |
26 | Orlando, Fla. | $233 | $245,000 | Merck & Co Inc | Portugal |
27 | Honolulu | $219 | $705,000 | Merck & Co Inc | Greece |
28 | Nashville, Tenn. | $209 | $265,000 | Pfizer Inc | New Zealand |
29 | St. Louis | $202 | $162,000 | Chevron Corp | New Zealand |
30 | Las Vegas | $191 | $278,000 | Wells Fargo & Co | Qatar |
31 | San Antonio | $187 | $206,000 | Boeing Co/The | Qatar |
32 | Providence, R.I. | $179 | $300,000 | Boeing Co/The | Algeria |
33 | Pittsburgh | $172 | $163,000 | Oracle Corp | Algeria |
34 | Cincinnati | $167 | $179,000 | salesforce.com Inc | Kazakhstan |
35 | Kansas City, Mo. | $164 | $195,000 | Netflix Inc | Kazakhstan |
36 | Columbus, Ohio | $163 | $207,000 | Netflix Inc | Kazakhstan |
37 | Bridgeport, Conn. | $159 | $410,000 | NIKE Inc | Ukraine |
38 | Virginia Beach, Va. | $155 | $238,000 | Abbott Laboratories | Ukraine |
39 | Oxnard, Calif. | $148 | $586,000 | Bristol-Myers Squibb Co | Ukraine |
40 | Jacksonville, Fla. | $145 | $213,000 | PayPal Holdings Inc | Ukraine |
41 | Cleveland | $141 | $151,000 | PayPal Holdings Inc | Kuwait |
42 | North Port, Fla. | $134 | $244,000 | Costco Wholesale Corp | Kuwait |
43 | Milwaukee | $131 | $238,000 | Amgen Inc | Kuwait |
44 | Cape Coral, Fla. | $128 | $218,000 | Charter Communications Inc | Morocco |
45 | Raleigh, N.C. | $127 | $271,000 | Union Pacific Corp | Morocco |
46 | Richmond, Va. | $124 | $240,000 | Broadcom Inc | Morocco |
47 | Indianapolis | $122 | $148,000 | Lockheed Martin Corp | Morocco |
48 | New Orleans | $110 | $201,000 | General Electric Co | Ecuador |
49 | Naples, Fla. | $104 | $329,000 | Starbucks Corp | Slovak Republic |
50 | Salt Lake City | $103 | $312,000 | QUALCOMM Inc | Slovak Republic |
For the full report, please visit: https://www.lendingtree.com/home/mortgage/lendingtree-reveals-the-most-valuable-cities-in-america/
About LendingTree
LendingTree (NASDAQ: TREE) is the nation's leading online marketplace that connects consumers with the choices they need to be confident in their financial decisions. LendingTree empowers consumers to shop for financial services the same way they would shop for airline tickets or hotel stays, comparing multiple offers from a nationwide network of over 500 partners in one simple search, and can choose the option that best fits their financial needs. Services include mortgage loans, refinances, auto loans, personal loans, business loans, student refinances, credit cards and more. Through the My LendingTree platform, consumers receive free credit scores, credit monitoring, customized recommendations to improve credit health, and notification when there are opportunities to save money. In short, LendingTree's purpose is to help simplify financial decisions for life's meaningful moments through choice, education and support. LendingTree, LLC is a subsidiary of LendingTree, Inc. For more information, go to www.lendingtree.com, dial 800-555-TREE, like our Facebook page and/or follow us on Twitter @LendingTree.
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SOURCE LendingTree.com