From mega-yachts to literal statues of money, Miami can feel a lot more Balenciaga than it is New Balance. But its status as a playground for the uber wealthy may become even more pronounced as home listing prices continue to rise — so much so, according to Realtor.com, that Miami has the second-most million-dollar listings of any metro in the U.S.
With Mediterranean-inspired spires, 1920s-era estates, and marvels of modern design, Miami is saturated with homes at extravagant prices. According to Realtor.com, Miami has 10,641 listings worth $1 million or more, despite its residents’ average income being a measly $74,000 (it’s unclear how high Jeff Bezos’ income raises that number) and the median home listing at $500,000.
Miami ranked just beneath the New York-Newark-New Jersey metro (with 11,873 listings of $1 million of more, a median listing price of $750,000, and residents’ average income at $94,000), and ahead of Los Angeles-Long Beach-Anaheim at No. 3 (with 9,042 listings of $1 million of more, a median listing price of $500,000, and residents’ average income at $74,000).
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