San Francisco has the highest percentage of million-dollar homes in the United States, according to a study released this morning by online real estate broker Trulia.
A whopping 63% of homes in the city are now worth more than a million dollars, based on calculations Trulia did using factors like square footage and recent sales in the neighbourhood.
There’s a lot of discussion in the city right now as to whether the rise in real estate prices is a result of the tech boom, increased foreign investment in real estate, a lack of new housing stock, or some combination of those factors. But Trulia’s data shows that a couple neighbourhoods that tech workers favour — Bernal Heights and the Mission — now have the greatest percentage of million-dollar homes in the city. Five years ago, those two neighbourhoods weren’t even in the top ten.
Both neighbourhoods are centrally located, highly walkable, and — probably most important — close to shuttle stops for the buses that take tech workers down to Silicon Valley campuses like Google, Facebook, Apple, and Yahoo.
Not surprisingly, San Francisco is the setting for the latest version of Bravo’s Million Dollar Listing reality TV show.
This interactive map shows exactly where and how fast the boom in million-dollar houses has occurred (the red dots are million dollar homes):