100 Most Populous MSA divisions by Share of $1M+ Homes, Feb 2022

[dimondpark]

This appears to be by METRO DIVISION for MSAs that have such subdivisions.

100 Most Populous U.S. Metros: February 2022 vs February 2020
by share of $1 million+ homes

Redfin: Metro Area, Share of Homes Worth At Least $1M+
88.7% San Francisco
85.9% San Jose
55.3% Anaheim
55.1% Oakland
40.4% San Diego
38.5% Los Angeles
37.1% Honolulu
36.5% Seattle
32.1% New York
31.2% Oxnard
25.0% Albuquerque<--WOW
18.1% Boston
13.3% Frederick, MD
13.2% Nassau-Suffolk
12.3% Austin
12.2% Bridgeport
11.2% Miami
10.9% Washington DC
10.0% West Palm Beach
9.7% Denver
9.6% North Port, FL
9.2% Sacramento
7.8% Phoenix
7.8% Cape Coral
7.7% Charleston, SC
7.4% New Brunswick, NJ
7.3% Salt Lake City
7.1% Nashville
7.1% Newark
7.0% Riverside
6.2% Tacoma
6.0% Portland, OR
5.7% Boise
5.4% Fort Lauderdale
4.9% Stockton
4.4% Dallas
4.1% Colorado Springs
3.9% Tampa
3.6% Providence
3.5% Las Vegas
3.5% Raleigh
3.4% Jacksonville
3.4% Montgomery County, PA
3.3% Lake County, IL
3.1% Charlotte
3.0% Chicago
2.7% Houston
2.7% Atlanta
2.6% Baltimore
2.5% Orlando
2.4% Tucson
2.4% Fort Worth
2.2% Philadelphia

The rest can be seen here:
https://www.redfin.com/news/million-dollar-homes-february-2022/

[SLO]

Yes, California is expensive.

[dimondpark]

Originally Posted by SLO

Yes, California is expensive.

Well, this illustrates that it's acutely expensive compared to the rest of the country, to a point where people need to leave in order to be able to own a home--data like this is what locals need to consider when they think they are doing something great by being NIMBYs when in fact they are being extremely selfish.

This group called 'Save Berkeley's Neighborhoods'(my —) successfully sued UC Berkeley to force them to cut freshmen enrollment by 3,000 because they claimed this would increase home prices and negatively impact the community-outrageous. Hello? the typical home price in Berkeley is already $1.6 million and a bunch of college freshmen arent buying homes.

and the local and state courts went along with it.

We keep shooting ourselves in the foot over the issue of housing.

[SLO]

Originally Posted by dimondpark

Well, this illustrates that it's acutely expensive compared to the rest of the country, to a point where people need to leave in order to be able to own a home--data like this is what locals need to consider when they think they are doing something great by being NIMBYs when in fact they are being extremely selfish.

This group called 'Save Berkeley's Neighborhoods'(my —) successfully sued UC Berkeley to force them to cut freshmen enrollment by 3,000 because they claimed this would increase home prices and negatively impact the community-outrageous. Hello? the typical home price in Berkeley is already $1.6 million and a bunch of college freshmen arent buying homes.

and the local and state courts went along with it.

We keep shooting ourselves in the foot over the issue of housing.

I agree. The Bay Area is ripe for a Paris type of density.

I just looked at June’s building permit numbers. DFW was 6800+/- and the Bay Area SF and SJ metros was about 1300, Austin was 3800.

[Obadno]

Originally Posted by dimondpark

This appears to be by METRO DIVISION for MSAs that have such subdivisions.

100 Most Populous U.S. Metros: February 2022 vs February 2020
by share of $1 million+ homes

Redfin: Metro Area, Share of Homes Worth At Least $1M+
88.7% San Francisco
85.9% San Jose

The rest can be seen here:
https://www.redfin.com/news/million-dollar-homes-february-2022/

Jesus christ

But isnt this kind of just a metric of COL?

[dimondpark]

Originally Posted by SLO

I agree. The Bay Area is ripe for a Paris type of density.

I just looked at June’s building permit numbers. DFW was 6800+/- and the Bay Area SF and SJ metros was about 1300, Austin was 3800.

Now the state has had to step in to mandate cities and counties to meet housing requirements. Oakland for example, has been mandated to build 26,000 new housing units by 2031, and the state is apparently staffing up to go after areas that drag their feet.

https://abag.ca.gov/news/state-staffs-enforce-housing-mandates

[Obadno]

Originally Posted by dimondpark

Now the state has had to step in to mandate cities and counties to meet housing requirements. Oakland for example, has been mandated to build 26,000 new housing units by 2031, and the state is apparently staffing up to go after areas that drag their feet.

https://abag.ca.gov/news/state-staffs-enforce-housing-mandates

Simply demanding development is hard to do, Unless cities are going to build the housing themselves. I worked with a number of moderate sized property holders in the bay area for a year and the costs associated with building in the city were just insane. Covid made it nearly impossible.

there's a lot more going on and a decree from Sacramento is not going to do it.

[mrnyc]

Originally Posted by Obadno

Simply demanding development is hard to do, Unless cities are going to build the housing.

there's a lot more going on and a decree from Sacramento is not going to do it.

and is that an ... an ... another ... unfunded mandate??

[dimondpark]

Originally Posted by Obadno

Simply demanding development is hard to do, Unless cities are going to build the housing.

there's a lot more going on and a decree from Sacramento is not going to do it.

That's true, and the resistance is as expected, fierce.

However I hope that people realize that we need to do this. Oakland is actually holding public hearings to get input as to where and the feeling I get is that folks recognize that $1M for a shack in the ghetto is just not tenable.

[iheartthed]

Why are Anaheim and Oakland split into a separate metro area? As well as the NY area sub-regions. Nassau-Suffolk isn't a metro area, nor is New Brunswick or Newark.

EDIT: Nevermind, didn't read the op thoroughly. Leaving this comment though since the title is pretty misleading.

[dimondpark]

Originally Posted by iheartthed

Why are Anaheim and Oakland split into a separate metro area? As well as the NY area sub-regions. Nassau-Suffolk isn't a metro area, nor is New Brunswick or Newark.

Well, I mentioned in the OP that it looks like metro divisions are being used for MSAs with those subdivisions.


Here is a cut and paste from bea.gov of Metro Divisions by Average Compensation per job, 2020-just to give an idea of what these areas are.
The first number is their code used within bea.gov so ignore it.
41884 San Francisco-San Mateo-Redwood City, CA (Metropolitan Division) 176,000 1
35614 New York-Jersey City-White Plains, NY-NJ (Metropolitan Division) 117,506 2
42644 Seattle-Bellevue-Kent, WA (Metropolitan Division) 114,737 3
14454 Boston, MA (Metropolitan Division) 111,905 4
47894 Washington-Arlington-Alexandria, DC-VA-MD-WV (Metropolitan Division) * 108,378 5
15764 Cambridge-Newton-Framingham, MA (Metropolitan Division) 106,135 6
36084 Oakland-Berkeley-Livermore, CA (Metropolitan Division) 104,308 7
42034 San Rafael, CA (Metropolitan Division) 101,842 8
35084 Newark, NJ-PA (Metropolitan Division) 100,180 9
23224 Frederick-Gaithersburg-Rockville, MD (Metropolitan Division) 99,629 10
29404 Lake County-Kenosha County, IL-WI (Metropolitan Division) 94,814 11
31084 Los Angeles-Long Beach-Glendale, CA (Metropolitan Division) 90,253 12
33874 Montgomery County-Bucks County-Chester County, PA (Metropolitan Division) 90,164 13
16984 Chicago-Naperville-Evanston, IL (Metropolitan Division) 89,478 14
11244 Anaheim-Santa Ana-Irvine, CA (Metropolitan Division) 88,618 15
37964 Philadelphia, PA (Metropolitan Division) 87,577 16
35154 New Brunswick-Lakewood, NJ (Metropolitan Division) 87,510 17
35004 Nassau County-Suffolk County, NY (Metropolitan Division) 86,993 18
19124 Dallas-Plano-Irving, TX (Metropolitan Division) 85,080 19
48864 Wilmington, DE-MD-NJ (Metropolitan Division) 83,232 20
19804 Detroit-Dearborn-Livonia, MI (Metropolitan Division) 82,268 21
47664 Warren-Troy-Farmington Hills, MI (Metropolitan Division) 78,442 22
40484 Rockingham County-Strafford County, NH (Metropolitan Division) 76,888 23
15804 Camden, NJ (Metropolitan Division) 76,536 24
33124 Miami-Miami Beach-Kendall, FL (Metropolitan Division) 75,956 25
48424 West Palm Beach-Boca Raton-Boynton Beach, FL (Metropolitan Division) 75,947 26
45104 Tacoma-Lakewood, WA (Metropolitan Division) 74,885 27
22744 Fort Lauderdale-Pompano Beach-Sunrise, FL (Metropolitan Division) 74,004 28
23104 Fort Worth-Arlington-Grapevine, TX (Metropolitan Division) 73,085 29
20994 Elgin, IL (Metropolitan Division) 68,787 30
23844 Gary, IN (Metropolitan Division) 63,577 31

[pj3000]

What would be really interesting and informative is to view the average $1M home, $2M home, $3M home, etc. for each of these areas...

That would really put in in perspective.

[Steely Dan]

Originally Posted by iheartthed

EDIT: Nevermind, didn't read the op thoroughly. Leaving this comment though since the title is pretty misleading.

i've edited the thread title for clarity.



not that we didn't already know this, but california once again astounds.

in chicagoland, million dollar homes are the province of the top-5-percenters.

in the bay area, even joe the plumber lives a 7 figure home.

it's very head-scratchy stuff when you're on the outside looking in.

[JManc]

Originally Posted by Steely Dan

i've edited the thread title for clarity.



not that we didn't already know this, but california once again astounds.

in chicagoland, million dollar homes are the province of the top-5-percenters.

in the bay area, even joe the plumber lives a 7 figure home.

it's very head-scratchy stuff when you're on the outside looking in.

Yes. My co-workers (San Francisco/ Fremont) that own their homes are all $1 million+ and they somehow manage to make it work. I don't know how. Where as my wife and I were looking at townhouses in town and decided to stay put because we didn't want to spend $500k.

[Yuri]

4/5 of the houses in San Francisco metro area cost more than US$ 1 million that's insane.

R$ 5 million would buy you a 2,000-3,000 sq feet apartment in the most exclusive neighbourhoods of São Paulo. And obviously, only multimillionaires live in such places or wealthy old people, which clearly is not the case of 80% of San Francisco metro area dwellers.

It's crazy.

[dimondpark]

FYI, here is the Metro Division Populations for 2020 from bea.gov

Metro Division, 2020 Population:
New York-Jersey City-White Plains, NY-NJ 11,746,214
Los Angeles-Long Beach-Glendale, CA 9,943,046
Chicago-Naperville-Evanston, IL 7,071,372
Dallas-Plano-Irving, TX 5,171,934
Washington-Arlington-Alexandria, DC-VA-MD-WV 5,007,652
Anaheim-Santa Ana-Irvine, CA 3,166,857
Seattle-Bellevue-Kent, WA 3,104,708
Nassau County-Suffolk County, NY 2,825,607
Oakland-Berkeley-Livermore, CA 2,814,656
Miami-Miami Beach-Kendall, FL 2,707,303
Warren-Troy-Farmington Hills, MI 2,563,513
Fort Worth-Arlington-Grapevine, TX 2,522,204
Cambridge-Newton-Framingham, MA 2,400,642
New Brunswick-Lakewood, NJ 2,384,685
Newark, NJ-PA 2,167,853
Philadelphia, PA 2,145,240
Boston, MA 2,034,729
Montgomery County-Bucks County-Chester County, PA 1,988,615
Fort Lauderdale-Pompano Beach-Sunrise, FL 1,958,105
Detroit-Dearborn-Livonia, MI 1,740,623
San Francisco-San Mateo-Redwood City, CA 1,624,914
West Palm Beach-Boca Raton-Boynton Beach, FL 1,507,600
Frederick-Gaithersburg-Rockville, MD 1,316,973
Camden, NJ 1,246,650
Tacoma-Lakewood, WA 913,890
Lake County-Kenosha County, IL-WI 863,264
Elgin, IL 766,139
Wilmington, DE-MD-NJ 727,401
Gary, IN 705,863
Rockingham County-Strafford County, NH 442,840
San Rafael, CA 257,332

[Steely Dan]

Metro Division, 2020 Population:

Warren-Troy-Farmington Hills, MI 2,563,513
Detroit-Dearborn-Livonia, MI 1,740,623

Cambridge-Newton-Framingham, MA 2,400,642
Boston, MA 2,034,729

Oakland-Berkeley-Livermore, CA 2,814,656
San Francisco-San Mateo-Redwood City, CA 1,624,914



it's odd seeing secondary centers with larger populations than their primary ones in some of these divisions.

but i know it's just the arbitrariness of where county lines got drawn.

[SLO]

Originally Posted by dimondpark

Now the state has had to step in to mandate cities and counties to meet housing requirements. Oakland for example, has been mandated to build 26,000 new housing units by 2031, and the state is apparently staffing up to go after areas that drag their feet.

https://abag.ca.gov/news/state-staffs-enforce-housing-mandates

That’s been happening for years.
I’d rather see the state do more comprehensive and cooperative planning not blanket mandates.
For example I think there are some areas on the coast that should allow high rise and more dense construction. This should be worked out with the coastal commission. A higher density can be had in Oakland than Monterey etc.

[Handro]

Originally Posted by dimondpark

FYI, here is the Metro Division Populations for 2020 from bea.gov

Metro Division, 2020 Population:
New York-Jersey City-White Plains, NY-NJ 11,746,214
Los Angeles-Long Beach-Glendale, CA 9,943,046
Chicago-Naperville-Evanston, IL 7,071,372
Dallas-Plano-Irving, TX 5,171,934
Washington-Arlington-Alexandria, DC-VA-MD-WV 5,007,652
Anaheim-Santa Ana-Irvine, CA 3,166,857
Seattle-Bellevue-Kent, WA 3,104,708
Nassau County-Suffolk County, NY 2,825,607
Oakland-Berkeley-Livermore, CA 2,814,656
Miami-Miami Beach-Kendall, FL 2,707,303
Warren-Troy-Farmington Hills, MI 2,563,513
Fort Worth-Arlington-Grapevine, TX 2,522,204
Cambridge-Newton-Framingham, MA 2,400,642
New Brunswick-Lakewood, NJ 2,384,685
Newark, NJ-PA 2,167,853
Philadelphia, PA 2,145,240
Boston, MA 2,034,729
Montgomery County-Bucks County-Chester County, PA 1,988,615
Fort Lauderdale-Pompano Beach-Sunrise, FL 1,958,105
Detroit-Dearborn-Livonia, MI 1,740,623
San Francisco-San Mateo-Redwood City, CA 1,624,914
West Palm Beach-Boca Raton-Boynton Beach, FL 1,507,600
Frederick-Gaithersburg-Rockville, MD 1,316,973
Camden, NJ 1,246,650
Tacoma-Lakewood, WA 913,890
Lake County-Kenosha County, IL-WI 863,264
Elgin, IL 766,139
Wilmington, DE-MD-NJ 727,401
Gary, IN 705,863
Rockingham County-Strafford County, NH 442,840
San Rafael, CA 257,332

Weird seeing Elgin, Gary, and Lake County-Kenosha not included in Chicago's MSA... is that new?

[Steely Dan]

Originally Posted by Handro

Weird seeing Elgin, Gary, and Lake County-Kenosha not included in Chicago's MSA... is that new?

they are still included chicago's MSA, these are "metropolitan divisions" which are just sub-units of MSAs.