Miami has surged in the rankings of most valuable U.S. housing market, according to a new report from Zillow.
Overall, housing values in the Miami-Fort Lauderdale area increased 86.6% since the start of the pandemic, to a combined total value of $1.25 trillion.
That helped move Miami move up the metro area rankings from ninth place nationwide to fifth.
Only the New York, Los Angeles, San Francisco and Boston metro areas have more valuable combined total housing markets.
Earlier this year, Zillow reported that the state of Florida surpassed New York in the combined total value of the state’s housing market during the pandemic.
Florida’s housing market is now valued at $3.62 trillion, behind only California.