In some U.S. cities, the value of the land actually outweighs that of the house that sits on it. Realtor.com compiled a list of the top 10 cities where this is occurring, and not surprisingly, six of the 10 are in California. In San Francisco, for instance (the number-one city), 81 percent of the average home value in 2016 was attributable to land. By contrast, in St. Louis, Mo., land is only 10 percent of a home’s total value. In cases where land value exceeds structural value, it’s a good candidate not just for fixing up, but for tearing down—all the better to build new.
Residential Products Online content is now on probuilder.com! Same great products coverage, now all in one place!
billboard
PB Topical Ref
leaderboard2
Related Stories
All the cities that made the list had 60 percent more listing page views than the U.S. average
Is another bubble about to burst, or is the current rate of home value appreciation less nefarious?
Rents are soaring to all-time highs and rising at a record pace which, after doing the math, has made buying a starter home more affordable than renting in 24 of the 50 largest metro markets, analyzed by Realtor.com
California dominates the list of hottest housing markets for January 2016
Renters and buyers are searching for even ground as prices in both markets reach record peaks and nationwide housing supply dwindles
California dominates the list as it is home to 13 out of the top 20 hottest markets in the country
boombox2
boombox1
ADVERTISEMENT
halfpage1
native1
catfish1