The U.S. has more ‘million-dollar’ cities than ever. Here’s where they are
www.thehill.com
The U.S. now boasts a record 550 “million-dollar” cities, where the typical home is worth $1 million or more, according to a new analysis by Zillow.

cross-posted from: https://lemmy.world/post/14660661

California had the most cities with homes valued over $1 million, totaling 210. New York had 66, while New Jersey — which experienced the largest year-over-year increase — had 49.

Zillow noted that limited housing inventory keeps pushing home values up, and according to the National Association of Realtors, prices are expected to remain elevated this spring.

  • catloaf@lemm.eeEnglish
    191·
    2 months ago

    Thanks to inflation, among other causes, a million dollars isn’t really all that much any more. Remember when being a millionaire was a big deal? Now it’s not even a big deal to be a billionaire, you have to be a trillionaire.

    • andrewAEnglish
      111·
      2 months ago

      Who Wants to be a Millionaire?

      Well, everybody who wants to own a home and maybe retire these days.

        • AbidanYre@lemmy.worldEnglish
          51·
          2 months ago

          With retirement at 65 and average US lifespan at ~77, 30 years is pretty optimistic.

          • disguy_ovahea@lemmy.world
            51·
            2 months ago

            30 years is assuming perfect health until death. $1.5M is $60K/yr for 30 years. It’ll go a lot faster if you fall ill.

            Alternatively, you don’t want to be the healthy 92-year-old that runs out of money and gets evicted.