Big plots of land dotted with similarly styled homes was once the cornerstone of the American homeowner’s dream. Dubbed McMansions, these big, box-like homes were hugely popular between 2001 and 2007 and were roughly 1.5 to 2.5 times larger than 2000’s median sized home. However, a new report from Trulia finds these homes are losing appeal in some areas of the country.
- Trulia measured the median home value premium for McMansions in 2006 and 2012, then compared them with today.
- The biggest drop in McMansion premium between 2012 and 2016 was in Cape Coral-Fort Myers, Florida, which had an 84.5 percent dip.
- All but two of the top cities with the biggest drops in McMansion premiums were located in Florida, including Fort Lauderdale, Miami, North Port-Sarasota-Bradenton and West Palm Beach.
- Milwaukee saw the biggest gain in McMansion premiums, rising 12.5 percent between 2012 and 2016.