DataLifestyle

Are McMansions losing traction in the suburbs?

Trulia reports on metro and national trends of McMansion premiums
  • 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.

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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 2012 and compared them with today, finding the average premium for these types of properties fell from 138 percent in 2012 to 117 percent in 2016. In the 10 years measured, the McMansion premium dipped about 1 percent from 2006's 118.2 percent. In 85 of the largest 100 metros throughout the nation, the premiums for these types of homes have dropped, Trulia says. Of the top 10 metros with the largest decrease in premium, eight of them are located in Florida. Cape Coral-Fort Myers ranked in the top spot for falling premiums. The southwest m...