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Business Observer Friday, Aug. 31, 2018 2 weeks ago

Area city forecast to make list of $1 million cities

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In June 2019, Anna Maria's median home value is forecast to surpass that million mark, at $1,009,404. 

No, the streets aren't paved with gold, but these cities do have something to brag about. 

Real estate website Zillow recently released a report about $1 million cities. It says the U.S. will gain 23 new $1 million cities in the next year — cities with a median home value of $1 million or more.

On that list? Anna Maria Island, part of the North Port-Sarasota-Bradenton metro area. Anna Maria's June median home value was $964,200. In June 2019, it's forecast to surpass that million mark, at $1,009,404.  

Also on the list are several California cities in San Jose, San Francisco and Los Angeles. Areas in New York City, Boston and Seattle made the list, too. Anna Maria Island, meanwhile, is the only Florida city on the list. 

The U.S. has 197 $1 million cities, according to Zillow. Of those, 33 are new to the list in the past 12 months.

"The number of million-dollar cities has doubled over the past five years," Zillow Senior Economist Aaron Terrazas says in the statement. 

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