American households own $28.4 trillion of residential real estate, but that wealth is largely concentrated in the nation’s largest metropolitan markets, according to the mortgage and loan exchange platform LendingTree’s latest analysis.

LendingTree examined the value of 155 million U.S. properties listed in its database and found, unsurprisingly, that New York City has the highest total value of residential real estate properties, with a combined $2.6 trillion in value, which is equal to France’s gross domestic product (GDP) in 2017. Los Angeles and San Francisco rounded out the top three with $2.2 billion and $1.2 billion worth of residential real estate, respectively.

These coastal hubs are the only cities to clock in values in the trillions — the rest of the cities on the list had residential real estate values ranging from $813 billion (Chicago) to $83 billion (Naples, Fla.). Beckley, W. Va. had the lowest valuation, coming in at $189 million.

Methodology

To determine the total value of cities, LendingTree looked at home value figures pulled on June 26, 2018 from the My LendingTree property value database. The database includes estimated home values for more than 155 million properties in the U.S. based on public tax, deed, mortgage and foreclosure data, as well as proprietary local data used to power home financing recommendations for My LendingTree users. The total value of real estate in metropolitan areas in the database was $26.2 trillion, close to the Federal Reserve’s estimate of total residential real estate value of $28.4 trillion. GDP data was taken from the IMF’s World Economic Outlook published in April 2018.

Email Marian McPherson.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Real estate news and analysis that gives you the inside track. Subscribe to Inman Select for 50% off.SUBSCRIBE NOW×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription