The three cities where rising homes values equal a six-figure salary

In San Jose, home values are increasing by $800 per day

New York Weekend Edition /
Apr.April 14, 2018 10:19 AM

Your home is working for you big-time in these three cities. (Credit: Pixabay)

If you own a home in the tech hubs of San Francisco, Seattle or San Jose, values are appreciating at rates that can add up to a well-paid job — if you’ve played your cards right.

According to a Zillow analysis, equity is houses in the three West Coast cities are increasing by more than $400 per day, with San Jose homeowners coming out on top with their home values rising by about $800 daily.

“For homeowners that have already or are very close to paying off a mortgage, this supplemental ‘income’ – especially if allowed to accumulate over several years – can essentially serve as a kind of second job that pays directly to a homeowner’s bottom line, without nearly as much actual work involved in collecting it,” Zillow economist Aaron Terrazas told Bloomberg.

Based on Zillow’s analysis, in New York the typical home owner can expect their house value to gain roughly $340 over an eight-hour workday,  which adds up to about $88,000 per year. The average equity gain across the country for homeowners is $50 per day. [Bloomberg]Erin Hudson


Related Articles

arrow_forward_ios
(iStock, Illustration by Kevin Cifuentes for The Real Deal)
U.S. home price growth slows for first time in five months
U.S. home price growth slows for first time in five months
From left: 11 Hoyt Street and 370 Eighth Street
See clear across Brooklyn, unclothed: Buyer claims $5M penthouse
See clear across Brooklyn, unclothed: Buyer claims $5M penthouse
1060 Fifth Avenue (Google Maps, iStock)
Fifth Ave co-op tops another slow week for Manhattan luxury contracts
Fifth Ave co-op tops another slow week for Manhattan luxury contracts
Long Island Board of Realtor's Tessa Hultz (LIRealtor.com, HomeForAllOfUs.org, iStock)
How not to discriminate: Long Island Realtors launch fair housing effort
How not to discriminate: Long Island Realtors launch fair housing effort
Douglas Elliman's Frances Katzen (Douglas Elliman, iStock)
“Paralysis” hits Manhattan home buyers
“Paralysis” hits Manhattan home buyers
(James Davis of Better Angle Media)
Shaquille O’Neal trades big Florida home for smaller Texas one
Shaquille O’Neal trades big Florida home for smaller Texas one
Southern California wildfires (Credit: Getty Images)
Flame off: Country’s first “wildfire-prepared” home is completed
Flame off: Country’s first “wildfire-prepared” home is completed
Island Sotheby’s International Realty agent Dan Omer and Hana Ranch in Maui (Sotheby's International Realty)
Hawaiian ranch next to Oprah hits market for $75M
Hawaiian ranch next to Oprah hits market for $75M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...