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
The Montana property with director Robert Redford and star Brad Pitt. (Getty, Swan Land Company)
“A River Runs Through It” Montana ranch lists for $136M
“A River Runs Through It” Montana ranch lists for $136M
From left: 944 Fifth Avenue, 67-69 East 93rd Street and 15 East 88th Street (Google Maps)
Three Manhattan sellers aim high asking $25M+ for luxury pads
Three Manhattan sellers aim high asking $25M+ for luxury pads
FiDi condo supply is through the roof as workers delay office return. (Getty)
FiDi condo glut is through the roof
FiDi condo glut is through the roof
eXp CEO Glenn Sanford (eXp, iStock)
Virtual broker eXp Realty has another record quarter
Virtual broker eXp Realty has another record quarter
RSA's Joseph Strasburg and Judge Lawrence Marks (Getty, Strasburg via Jeffersons Siegel)
Landlord group challenges state eviction ban
Landlord group challenges state eviction ban
Redfin CEO Glenn Kelman (Getty, Redfin)
Pocket listings exclude minority homebuyers, Redfin CEO says
Pocket listings exclude minority homebuyers, Redfin CEO says
(378 West End, 300 West and 567 Ocean Avenue, Getty)
April was best month for new condo sales in 5 years
April was best month for new condo sales in 5 years
As the economy rebounds, rental prices are following suit. With the eviction ban recently overturned, that spells trouble for tenants who are struggling to make ends meet. (iStock)
Rents rise across country as economy rebounds
Rents rise across country as economy rebounds
arrow_forward_ios

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

Loading...