A study by Badeloft USA examined high-value home density across cities using real estate data. After analyzing land area, average home price, and the number of properties exceeding that price, the study concluded that Miami leads in housing density, with the most above-average-priced homes per square mile.
Miami tops the list with 105 above-average-priced homes per square mile, the highest density of premium real estate. With just 36 square miles of land, its limited space drives this concentration, making it a prime destination for luxury living. The city’s average home price stands at $584K.
New York City ranks second, with 38 luxury homes per square mile. While its density is lower than Miami’s, it leads in total premium properties, boasting 11,000 across 300 square miles. With an average home price of $763K, NYC remains a global real estate hub.
Las Vegas follows in third place with 26 high-value homes per square mile. Spanning 142 square miles, it has 3,701 premium properties, nearly double the density of Chicago, signaling its rising influence in the luxury market.Philadelphia ranks fourth, with 23 premium homes per square mile. It hosts 3,214 above-average-priced properties across 134 square miles. Despite having the lowest average home price in the top cities at $218K, its density reflects strong real estate growth.
Washington, D.C., takes fifth place with 17 premium homes per square mile. With 1,225 high-value properties spread over 68 square miles and an average home price of $589K, it maintains a strong luxury market.
Boston lands sixth with 14 premium homes per square mile. Though it has just 698 above-average-priced properties, its compact 48-square-mile size boosts density. With an average home price of $745K, Boston remains a high-end market.
San Antonio ranks seventh, also with 14 luxury homes per square mile. Despite nearly 7,000 premium properties, its vast 500-square-mile area lowers overall density.
Detroit follows in eighth place with 13 luxury homes per square mile. It has 1,803 high-value properties, but its $74K average home price—the lowest on the list—underscores its affordability despite growing premium real estate.
Chicago comes in ninth, with 12 premium homes per square mile. With 2,759 above-average-priced properties across 227 square miles, its density is comparable to Honolulu, offering ample opportunities for buyers and investors.
Honolulu rounds out the top ten, also with 12 high-value homes per square mile. Despite its ranking, it boasts the most expensive average home price at $773K, with just 826 above-average-priced homes, distinguishing it from other cities.
A spokesperson from Badeloft USA commented: “High-value home density sheds light on how urban geography, land distribution, and market pressures shape housing trends. Cities with smaller land areas often experience concentrated demand for premium properties, while larger regions show more varied growth patterns.”
They continued: “These findings highlight the intricate balance between affordability, housing accessibility, and economic forces driving real estate markets. Buyers and investors should carefully consider these factors when evaluating opportunities in different markets.”
You can see the full research by this link.
Tyler Durden
Fri, 03/14/2025 – 04:15
