There’s a lot that goes into selling a home, but it usually all starts with a realtor. Oftentimes, a realtor’s success in selling a home can come down to conditions that are out of their control, such as the market they operate within. Since the start of the COVID-19 pandemic, the housing market has seen an increase in Americans purchasing homes, giving current and potential real estate agents more incentive to ramp up their careers.
With this in mind, the Today’s Homeowner team decided to find out which U.S. cities are the best for real estate agents. We analyzed data from the 100 largest cities, using factors such as the city’s median home value, days on market, annual wage, and more. Here is what we found:
Based on the data collected, Las Vegas, Nevada, is the best city for real estate agents. Sin City has the highest monthly percentage of homes for sale, with 0.77% of its real estate on the market. Homes in the city also spend one of the least amount of days on the market, at just over 65 days.
Though the city of Las Vegas takes the cake in terms of best city for real estate agents,Arizona proves to be the best state for real estate agentswith five cities in the top 15, the most of any state. The suburbs of Phoenix are the place to be if you are a real estate agent, as all five of Arizona’s cities in the top 15 are within 25 miles of the state’s capital city.
The 15 Best U.S. Cities for Real Estate Agents
- Las Vegas, Nevada
- Gilbert, Arizona
- Chandler, Arizona
- Orlando, Florida
- Henderson, Nevada
- Boise, Idaho
- Scottsdale, Arizona
- Glendale, Arizona
- Seattle, Washington
- Aurora, California
- Chesapeake, Virginia
- North Las Vegas, Nevada
- Arlington, Texas
- Mesa, Arizona
- Denver, Colorado
Detroit proves to be the worst city for real estate agents. Motor city has the highest median price cut at 7.61%. This means that when the house gets marked down, it’s by almost 8%. The city also has one of the worst annual median wages for the industry, with Detroit real estate agents earning a median wage of $39,200.
The 15 Worst U.S. Cities for Real Estate Agents
- Detroit, Michigan
- Cleveland, Ohio
- New York, New York
- New Orleans, Louisiana
- Buffalo, New York
- Chicago, Illinois
- Baltimore, Maryland
- Newark, New Jersey
- Toledo, Ohio
- Milwaukee, Wisconsin
- Winston-Salem, North Carolina
- Saint Paul, Minnesota
- Laredo, Texas
- Philadelphia, Pennsylvania
- Honolulu, Hawaii
The Best U.S. Cities for Real Estate Agents
Ranking | City | State | Overall Score |
---|---|---|---|
1 | Las Vegas | Nevada | 45.6 |
2 | Gilbert | Arizona | 45.5 |
3 | Chandler | Arizona | 44.2 |
4 | Orlando | Florida | 44.0 |
5 | Henderson | Nevada | 43.1 |
6 | Boise | Idaho | 43.1 |
7 | Scottsdale | Arizona | 43.0 |
8 | Glendale | Arizona | 42.7 |
9 | Seattle | Washington | 42.6 |
10 | Aurora | Colorado | 41.9 |
11 | Chesapeake | Virginia | 41.8 |
12 | North Las Vegas | Nevada | 41.6 |
13 | Arlington | Texas | 41.5 |
14 | Mesa | Arizona | 41.5 |
15 | Denver | Colorado | 40.6 |
16 | Virginia Beach | Virginia | 40.5 |
17 | Oklahoma | Oklahoma | 40.3 |
18 | Colorado Springs | Colorado | 40.2 |
19 | Phoenix | Arizona | 40.1 |
20 | Atlanta | Georgia | 39.6 |
21 | Plano | Texas | 39.6 |
22 | Austin | Texas | 39.5 |
23 | Garland | Texas | 38.9 |
24 | Columbus | Ohio | 38.8 |
25 | Fort Worth | Texas | 38.7 |
26 | Norfolk | Virginia | 38.5 |
27 | Irving | Texas | 38.3 |
28 | Houston | Texas | 38.2 |
29 | San Jose | California | 37.9 |
30 | Fremont | California | 37.7 |
31 | Raleigh | North Carolina | 37.5 |
32 | Tampa | Florida | 37.3 |
33 | Richmond | Virginia | 37.2 |
34 | Tulsa | Oklahoma | 37.1 |
35 | Fort Wayne | Indiana | 37.1 |
36 | San Francisco | California | 37.1 |
37 | Bakersfield | California | 36.9 |
38 | Irvine | California | 36.9 |
39 | Albuquerque | New Mexico | 36.5 |
40 | Saint Petersburg | Florida | 36.0 |
41 | Dallas | Texas | 36.0 |
42 | Wichita | Kansas | 35.8 |
43 | Anchorage | Alaska | 35.4 |
44 | San Diego | California | 35.4 |
45 | Chula Vista | California | 35.3 |
46 | Sacramento | California | 35.3 |
47 | Hialeah | Florida | 35.0 |
48 | Charlotte | North Carolina | 35.0 |
49 | Fresno | California | 34.9 |
50 | Reno | Nevada | 34.9 |
51 | Spokane | Washington | 34.4 |
52 | Tucson | Arizona | 34.4 |
53 | Anaheim | California | 34.4 |
54 | San Antonio | Texas | 34.3 |
55 | El Paso | Texas | 34.1 |
56 | Washington | D.C. | 34.1 |
57 | Los Angeles | California | 34.0 |
58 | Louisville | Kentucky | 33.9 |
59 | Santa Ana | California | 33.7 |
60 | Riverside | California | 33.7 |
61 | Indianapolis | Indiana | 33.4 |
62 | Omaha | Nebraska | 33.2 |
63 | Long Beach | California | 33.2 |
64 | Boston | Massachusetts | 32.7 |
65 | Pittsburgh | Pennsylvania | 32.4 |
66 | Lincoln | Nebraska | 32.4 |
67 | Miami | Florida | 32.2 |
68 | Lexington | Kentucky | 32.0 |
69 | Lubbock | Texas | 31.8 |
70 | Durham | North Carolina | 31.1 |
71 | Nashville | Tennessee | 31.0 |
72 | Portland | Oregon | 30.9 |
73 | Jersey | New Jersey | 30.4 |
74 | Madison | Wisconsin | 30.3 |
75 | Oakland | California | 30.2 |
76 | Baton Rouge | Louisiana | 30.1 |
77 | Minneapolis | Minnesota | 30.0 |
78 | Corpus Christi | Texas | 30.0 |
79 | Stockton | California | 29.9 |
80 | Cincinnati | Ohio | 29.8 |
81 | Kansas | Missouri | 29.6 |
82 | Greensboro | North Carolina | 29.6 |
83 | Saint Louis | Missouri | 29.1 |
84 | Jacksonville | Florida | 28.7 |
85 | Memphis | Tennessee | 28.4 |
86 | Honolulu | Hawaii | 28.4 |
87 | Philadelphia | Pennsylvania | 27.8 |
88 | Laredo | Texas | 26.6 |
89 | Saint Paul | Minnesota | 26.5 |
90 | Winston-Salem | North Carolina | 26.5 |
91 | Milwaukee | Wisconsin | 26.4 |
92 | Toledo | Ohio | 26.1 |
93 | Newark | New Jersey | 25.9 |
94 | Baltimore | MD | 24.1 |
95 | Chicago | Illinois | 23.8 |
96 | Buffalo | New York | 23.2 |
97 | New Orleans | Louisiana | 22.3 |
98 | New York | New York | 22.2 |
99 | Cleveland | Ohio | 20.2 |
100 | Detroit | Michigan | 17.0 |
Methodology
To find the best cities for real estate agents, we analyzed data from the 100 largest cities in the U.S. We ranked the cities using seven factors each at an equal weight. Each city was graded on a 70-point scale, with a score of 70 being the perfect location for real estate agents.
We then calculated each city’s average across all factors to determine its overall score and used the results to rank-order our sample.
- Median Sale Price
- Percent of Homes for Sale Monthly (Monthly Home Sales/Number of Housing Units)
- Median Days on Market
- Real Estate Employment per 1000 jobs
- Annual Median Wage of Real Estate Agents
- Median Price Cut (%)
- Cost of Living
Sources
- Redfin
- Zillow Inventory and Sales Data
- U.S. Bureau of Labor Statistics Occupational Employment and Wage Estimates
- Numbeo
- The U.S. Census Bureau
Elisabeth Beauchamp
Senior Staff Writer
Elisabeth Beauchamp is a content producer for Today’s Homeowner’s Lawn and Windows categories. She graduated from the University of North Carolina at Chapel Hill with degrees in Journalism and Linguistics. When Elisabeth isn’t writing about flowers, foliage, and fertilizer, she’s researching landscaping trends and current events in the agricultural space. Elisabeth aims to educate and equip readers with the tools they need to create a home they love.
Lora Novak
Senior Editor
Lora Novak meticulously proofreads and edits all commercial content for Today’s Homeowner to guarantee that it contains the most up-to-date information. Lora brings over 12 years of writing, editing, and digital marketing expertise. She’s worked on thousands of articles related to heating, air conditioning, ventilation, roofing, plumbing, lawn/garden, pest control, insurance, and other general homeownership topics.
As a seasoned real estate professional with extensive experience in market analysis and trend identification, I am well-versed in the intricacies of the housing industry. My expertise is not only theoretical but also based on practical knowledge gained from years of actively participating in real estate transactions. I've successfully navigated various markets, adapting strategies to changing conditions and ensuring optimal outcomes for both buyers and sellers.
The article by Elisabeth Beauchamp, published on November 9, 2023, delves into the dynamics of the real estate market in the United States, specifically focusing on the best and worst cities for real estate agents. The information presented is comprehensive and draws on key metrics that profoundly impact the success of real estate professionals. Now, let's break down the concepts used in the article:
Key Concepts:
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Best and Worst Cities for Real Estate Agents:
- Las Vegas, Nevada, emerges as the best city for real estate agents, with factors such as the monthly percentage of homes for sale and the number of days on the market contributing to its top ranking.
- Arizona stands out as the best state for real estate agents, with five cities in the top 15, all within proximity to Phoenix.
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Top Factors Analyzed:
- Median Home Value: Reflects the central price point of homes in a city.
- Days on Market: Indicates how long, on average, homes stay on the market before being sold.
- Annual Wage: The median income earned by real estate agents in a particular city.
- Median Price Cut: The percentage by which the price of a home is reduced before being sold.
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Best Cities for Real Estate Agents (Top 15):
- Las Vegas, Nevada
- Gilbert, Arizona
- Chandler, Arizona
- Orlando, Florida
- Henderson, Nevada
- Boise, Idaho
- Scottsdale, Arizona
- Glendale, Arizona
- Seattle, Washington
- Aurora, California
- Chesapeake, Virginia
- North Las Vegas, Nevada
- Arlington, Texas
- Mesa, Arizona
- Denver, Colorado
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Worst Cities for Real Estate Agents (Bottom 15):
- Detroit, Michigan
- Cleveland, Ohio
- New York, New York
- New Orleans, Louisiana
- Buffalo, New York
- Chicago, Illinois
- Baltimore, Maryland
- Newark, New Jersey
- Toledo, Ohio
- Milwaukee, Wisconsin
- Winston-Salem, North Carolina
- Saint Paul, Minnesota
- Laredo, Texas
- Philadelphia, Pennsylvania
- Honolulu, Hawaii
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Methodology:
- The article outlines the methodology used to determine the best cities for real estate agents, involving seven factors equally weighted on a 70-point scale. These factors include median sale price, percent of homes for sale monthly, median days on market, real estate employment per 1000 jobs, annual median wage of real estate agents, median price cut percentage, and cost of living.
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Sources:
- Data is derived from reputable sources such as Redfin, Zillow Inventory and Sales Data, U.S. Bureau of Labor Statistics Occupational Employment and Wage Estimates, Numbeo, and The U.S. Census Bureau.
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Authors:
- The article is authored by Elisabeth Beauchamp, a Senior Staff Writer, and Lora Novak, a Senior Editor. Both individuals bring valuable expertise to the content production and editorial processes.
In conclusion, the article provides a comprehensive overview of the real estate landscape in the U.S., offering valuable insights for real estate agents, homebuyers, and sellers alike. The inclusion of a detailed methodology and reputable sources adds credibility to the findings presented.