Which metros are more desirable at its cores than in the suburbs?

[dimondpark]

Originally Posted by YSL

Not really though. There aren't many super rich people in Bronx or Queens or Staten Island. It's nearly all Manhattan and the part of BK closest to Manhattan. And Manhattan and that area of Brooklyn are like 2m pop compared to the 20m+ that live outside of it.

EDIT: found this. most states don't release this but the few i could find -

Number of tax returns with incomes above > $1 MILLION

Manhattan 23,553
Westchester 7,789
Nassau 5,414
Suffolk 2,643
Kings: 2,506
Queens 619
Rockland: 573
Staten Island: 268
Bronx 162

NJ or CT does not release this, but looking at this Bloomberg article, I'd guess the NYC metro counties in those states would produce 10k in total https://www.bloomberg.com/news/artic...x-bracket-most

Number of tax returns with incomes above > $1 MILLION

San Francisco 4,954
Santa Clara 7,922
San Mateo 4,879
Marin 2,163
Alameda 2735
Contra Costa 1,958

Number of tax returns with incomes above > $1 MILLION

Los Angeles County 15,607
Orange County 5,971

of course you can't read much into LA since it's a massive county


Number of tax returns with incomes above > $1 MILLION

Boston 2,031
Newton 1,284
Wellesley 853
Weston 555,
Cambridge 471

Number of tax returns with incomes above > $1 MILLION (philly metro)

Montgomery 2,746
Chester 1,745
Bucks - 1,375
Delaware - 1,235
Philadelphia - 775


https://www.bostonglobe.com/metro/20...KCK/story.html
http://lohud.nydatabases.com/databas...aires-new-york
https://infogram.com/californias_millionaires_by_county
https://www.bizjournals.com/philadel...naires-in.html

Too bad that CA data is from 2014.

[YSL]

Originally Posted by dimondpark

Too bad that CA data is from 2014.

They're all from 2014. IRS is very slow at releasing the data.

[iheartthed]

Originally Posted by Crawford

I think that's generally, but not universally, true.

Certainly Detroit or Cleveland's core doesn't have psf prices comparable to the most expensive suburbs. I imagine the same is true for quite a few metros.

Even SF, I'm not entirely sure. Is SF proper more expensive psf than Palo Alto? Probably not.

Cost/square foot for new developments in downtown and midtown Detroit are on par with average cost in Birmingham, Michigan.

[Crawford]

Originally Posted by iheartthed

Cost/square foot for new developments in downtown and midtown Detroit are on par with average cost in Birmingham, Michigan.

Definitely no. Not even close. Prime Birmingham RE costs maybe $1,000 psf.

Detroit's core barely has any residential sales, and what does exist isn't exactly going for $3 million.

[iheartthed]

Originally Posted by Crawford

Definitely no. Not even close. Prime Birmingham RE costs maybe $1,000 psf.

Detroit's core barely has any residential sales, and what does exist isn't exactly going for $3 million.

Only the very high end of Birmingham goes for that much. The average price per square foot is around $250, which is about the same as pretty much any new build condo for sale in downtown or midtown Detroit right now.

And since Birmingham is the high-end of Metro Detroit suburbs, it follows that average price per square foot in core Detroit is much higher than most of suburban Detroit.

[CherryCreek]

Which metros are more desirable at its cores than in the suburbs?

Depends on what you desire.