Nestled amid the palm trees of Jupiter Island, Florida, is a three-bedroom, five-bathroom house with a pool on a half-acre lot.
The 2,798-square-foot house, only steps to the beach and offering ocean views, is currently listed on the market for $5.1 million. As of the time of publication, it’s the cheapest house for sale on Jupiter Island, which boasts the highest median home value in America, according to Zillow Group Inc.
The typical home value on Jupiter Island reached $9.98 million in February 2024, according to Zillow, beating out the exclusive neighborhoods of Golden Beach, Florida; Hunts Point, Washington; and Atherton, California.
While certain cities and neighborhoods have always seen eye-popping price tags, Zillow research found the number of cities where the median home value is above $1 million has skyrocketed in recent years.
In January 2000, the number of so-called million-dollar cities was only 17. That grew to about 245 cities in February 2020, right before Covid-19 was declared a pandemic. In the four years since, that number has more than doubled, to 550, as home values skyrocketed amid a blistering market and tight inventory.
