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.

  • andrewEnglish
    10•7 months ago

    Who Wants to be a Millionaire?

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

    • @disguy_ovahea
      4•7 months ago

      $1.5M is recommended for a 30-year retirement today. That’s assuming you already own a home.

      • @AbidanYreEnglish
        4•7 months ago

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

        • @disguy_ovahea
          4•7 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.

    • @cbarrickEnglish
      2•7 months ago

      Retirement is in the ballpark of $2 million…