Housing Madness: 57% of Homes in This U.S. City are Worth $1M+

There is no shortage of Bay Area housing anecdotes floating around. Whether it’s the tale of billboards that advertise new homes in San Francisco starting at “only” $1 million dollars, or a Google employee who must move into a 128-square-foot truck in the company’s parking lot to effectively save money, these unusual stories make it clear that the housing market in the Bay Area is bordering on insanity.

However, if you want more quantitative proof of the housing bubble that is plaguing the Bay Area, this map should do it. Using data from the real estate website Trulia, this animation plots the number of million dollar homes in the Bay Area.

Courtesy of: Visual Capitalist

$1 MILLION DOESN’T BUY WHAT IT USED TO

You too can live in a tiny dump for the low low price of $1 million courtesy of Janet Yellen and her bubblicious levels of zero interest rate debt dropped from helicopters on Wall Street. You can pretend to live like the .1%, except in a 1,300 square foot hovel. This will surely end well.

San Francisco


Skybox Realty

Headed to the city of cable cars, fog and killer home prices? Move to this $929,000 apartment that is within walking distance of the Financial District and Union Square. Listed as a “Spacious 1 Bedroom + Den, 1 Bath,” it’s a cozy 837 square feet. Bonus points: It comes with a parking spot.

Los Angeles

Redfin

In Los Angeles you can get a little bit more square footage for your money than in San Francisco. How about this $930,000 home that’s 3 bedrooms and 1.75 baths for a total of 1,332 square feet. The West Los Angeles home is even big enough for a second refrigerator and a finished two car garage.

Arlington, Virginia


Virginia Seekford Smith

This two bedroom, one bathroom home in Arlington, Virginia, will cost you $1 million, but you get two adjoining lots for a total of 5,000 square feet of space. The average sale price of a luxury home in Washington, D.C. is $2,402,000.

Miami Beach, Florida


Redfin

This two-bedroom, two-bath home comes in just under $1 million, listed at $995,000. It’s located one block from a park and comes with a private pool. It also happens to be located in the city with the highest average luxury-sale price in the U.S., at $8,337,000.

Buena Park, California


OC Homes Realty

This $1.1 million home is 1,050 square feet of a three-bedroom, 1.5-bathroom house. The listing describes this house as “Excellent Exposure of Busy Beach Blvd & Artesia Blvd in Buena Park.”

Here are the 10 cities with the priciest luxury housing in the fourth quarter:

Rank City Average Luxury Sale Price
1 Miami Beach, FL $8,337,000
2 Los Angeles, CA $4,808,000
3 San Francisco, CA $4,668,000
4 Boston, MA $3,380,000
5 Irvine, CA $3,180,000
6 Kirkland, WA $2,506,000
7 Bellevue, WA $2,435,000
8 Huntington Beach, CA $2,426,000
9 Washington, DC $2,402,000
10 Fort Lauderdale, FL $2,353,000
Source: Redfin

Via Marketwatch