Priciest home markets in the U.S.

In February 2020, the typical home in the 1,000 most expensive U.S. neighborhoods ranged from $1.1 million to about $10.6 million. Now, the entry point to move to a top neighborhood is $1.3 million.
7 of the ritziest home markets in the U.S. are now in Florida, reports Bloomberg. A home in the most expensive spot in the country, Gables Estates in Coral Gables near Miami, exceeds $21.1 million.
Here are the 10 most expensive neighborhoods and their typical home values:
 Neighborhood – City – Typical Value (Million)
  1. Gables Estates – Coral Gables – $21.10
  2. Port Royal – Naples – $17.40
  3. Beverly Hills Gateway – Beverly Hills – $12.00
  4. Paradise Coe – Malibu – $11.10
  5. Old Cutler Bay – Coral Gables – $10.50
  6. San Marino Island – Miami Beach – $9.90
  7. Palm Island – Miami Beach – $9.90
  8. The Flats – Beverly Hills – $9.60
  9. Aqualane Shore – Naples – $9.40
  10. Rivo Alto Island – Miami Beach – $9.40

Our take

This trend shouldn’t come as a surprise. Tech and finance giants are helping to fuel Florida’s hot real-estate market. Apple, for example, is taking a new 45,000-square-foot office in Coral Gables. The share of all tech-industry jobs located in California has now fallen to some of its lowest levels in a decade, dropping a full percentage point over the last year alone. If California and New York want to retain these businesses, they will need to change their tax and regulatory environment, as well as their restrictive housing policies.