See how Tampa's residential real estate value compares to other US cities
By Brendan Ward
Tampa Bay Business Journal
Published:

Tampa has some of the highest residential real estate value in the U.S.

The Big Guava ranked as the city with the 23rd most valuable residential real estate, the second highest ranking in Florida. Tampa has a $286 billion in total residential real estate value with a median value of $261,000.

Florida’s three other major cities also ranked in the top 50 most valuable cities. Miami came in at No. 7, the highest in the state. Orlando fell a few spots behind Tampa at No. 26. Jacksonville ranked at No. 40. North Port, Cape Coral and Naples also made the top 50 at Nos. 42, 44 and 49, respectively.

The cities with the most residential real estate value are New York City, Los Angeles, San Francisco, Chicago and Washington, D.C.

The rankings are based on the total residential real estate in 50 American cities. The values are from a LendingTree database of $32.6 trillion that is based on public tax, deed, mortgage and foreclosure data, as well as proprietary local data.

Real estate wealth is not evenly distributed across the country and is largely concentrated in large cities. But it begs the question: What are the most valuable cities in America?

LendingTree analyzed the total value of residential real estate in American cities. The real estate values come from the My LendingTree property value database, which is a collection of real estate data of more than 155 million U.S. properties. The total value of residential real estate in the database was $32.6 trillion, close to the Federal Reserve’s estimate of total residential real estate value of $32.9 trillion.

For comparison, the total value of issued corporate equity (stocks) in the U.S. is $49.6 trillion. We compared each city to the U.S. stock market to find the company that most closely matched its value. We also compared the total value of residential properties in each city to the GDP of countries around the world.

Of course, the comparisons are not apples to apples: GDP represents a single year’s output while the value of homes persists year after year (mostly upward and a few times declining). Cities represent the sum of individually-owned properties while stocks are the exact opposite: fractional ownership of a single company. Nonetheless, we paired up cities with their equivalent country GDP and company stock market values to get a sense of value.