Between ticket prices and hot real estate, living in a city of champions is going to cost you
Since the four major Boston pro sports teams—the Patriots, Red Sox, Celtics, and Bruins—have all won a championship (or, in the case of the Pats and Sox, multiple titles) since 2000, everyone wants to be a part of the city’s winning culture.
Realtor.com named the ten most expensive sports cities in the U.S., and Boston was ranked No. 1. The list was based on how much it costs to attend a game (factoring in ticket and concessions prices) along with the price of real estate near the stadiums, ballparks, and arenas. In Boston, median home prices near sports venues range from $639,500 to $1.24 million, considerably higher than the $479,900 median price for the metro.
Cities both large (New York City) and small (Oklahoma City), and cities with good teams (Chicago, San Francisco) and bad (San Diego) made the list.
Living near a sports stadium in Detroit does come at a premium. Downtown homes near Ford Field and Comerica Park are more than double the regional median price. And as the city emerges from a distressed housing market, downtown is seeing strong demand for affordable “luxury” residences. Sales of luxury homes have risen by 107% since 2008, according to an analysis we did for the Wall Street Journal. By contrast, the Pistons’ Palace is in an upscale suburb, so homes near the arena are pricier.