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"The U.S. now has almost 500 cities where the average cost of a home has hit $1 million, according to Zillow." Does that sound right? That sounds kind of high

• jonas21 4y ago
  They're counting every city, town, and village in the census data, regardless of how small. For example, the most expensive city in the country has a population of 88: > Indian Creek, Florida, an exclusive 300-acre island in Biscayne Bay in Miami, is the most expensive city in the country, with a typical home value of around $28.3 million. The city has a total population of 88 residents, including a handful of high-profile celebrity tenants, such as Tom Brady and Enrique Iglesias. [1] There are over 30,000 places in the dataset, so it's not too surprising that ~500 of them (<2%) are very expensive. Looking at the median city would be much more useful. [1] https://www.zillow.com/research/million-dollar-cities-2021-30655/ https://www.zillow.com/research/million-dollar-cities-2021-3...
  • thedougd 4y ago
    Sounds like neighborhoods and gated communities that self incorporated.