Miami ranks among the Top 10 U.S. cities with the highest residential real estate value.
The Magic City ranked as the city with the No. 7 most valuable residential real estate, the highest ranking in Florida. Miami has a $774 billion in total residential real estate value with a median value of $297,000.
Florida’s three other major cities also ranked in the Top 50 most valuable cities. Tampa was the second highest in the state at No. 23. Orlando fell a few spots behind Tampa at No. 26. Jacksonville ranked at No. 40. North Port, Cape Coral and Naples also made the Top 50 at Nos. 42, 44 and 49, respectively.
The cities with the most residential real estate values are New York City, Los Angeles, San Francisco, Chicago and Washington, D.C.
The rankings are based on the total residential real estate in 50 American cities. The values are from a LendingTree database of $32.6 trillion that is based on public tax, deed, mortgage and foreclosure data, as well as proprietary local data.
The full report can be found here.