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Strong Capital Gains Drive a Surge in the Number of Million Dollar Suburbs During 2016
Over the five years to December 2016, the number of suburbs nationally with a median value of at least $1 million has increased by 176%.
There was a time in which having a dwelling worth $1 million or more meant that the property was exclusive and rare. Today dwellings with a $1 million valuation are becoming much more common. At the end of 2016, there were 760 suburbs nationally that had a median value of at least $1 million. This figure has increased from just 275 suburbs…
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