The NBA Finals matchup between the Cleveland Cavaliers and Golden State Warriors couldn’t be more closely contested. But in a hypothetical matchup over which squad could team up and buy more homes in their respective hometowns, the Cavs win by a landslide.
If all the Cleveland Cavaliers players were to pool their 2014-2015 salaries together, they could buy 60 percent of the homes available for sale in the city of Cleveland, according to a Zillow analysis of team payrolls and the price of homes listed for sale in Cleveland and Oakland. All the players on the Golden State Warriors could team up to buy only 25 percent of the homes available for sale in the city of Oakland.
How many homes the teams can buy is a product both of the size of their respective payrolls, and how expensive homes are in their cities. All the players on the Cavaliers’ 2014-2015 roster combined made almost $82.6 million this season, according to data from HoopsHype.com. The Warriors payroll this year was a more modest $73.6 million. And in Cleveland, those extra millions go much farther than in Oakland.
The median home in the city of Cleveland was valued at $52,200 in April. In Oakland, right in the middle of the incredibly hot San Francisco Bay Area housing market, the median home value in April was roughly 10 times higher than in Cleveland, at $526,800.
In a one-on-one real estate buying duel between the teams’ two best players — the Warriors’ Stephen Curry, 2015 NBA MVP, and the Cavs’ LeBron James, four-time NBA MVP — the results are also not close. James’ superstar salary of more than $20.6 million means he could buy roughly 15 percent of homes available for sale in Cleveland on his own. Curry’s salary of “only” about $10.6 million means he could buy just 4 percent of homes available for sale in Oakland.
And if real estate purchasing power was one of the reasons James left the Miami Heat for the Cavs this year, it was an exceedingly smart move. The Miami Heat’s payroll of roughly $75.8 million this season would buy just 3 percent of available homes in Miami.
Overall, the Detroit Pistons have the largest combined purchasing power of any NBA team — they’re able to afford roughly two-thirds (67 percent) of all homes available in the Motor City. The New York Knicks, even with the league’s fourth-highest payroll (roughly $81.4 million), could team up to afford only 0.2 percent of all homes available in ultra-pricey New York City, the lowest share of all U.S.-based NBA teams. (We did not include the Toronto Raptors in this analysis, for lack of Canadian real estate data.)
For this analysis, Zillow summed the prices of all homes listed for sale on Zillow in each NBA city on June 1, 2015. We then divided each team’s payroll by this summed value of homes for sale.
from Zillow Blog - Real Estate Market Stats, Celebrity Real Estate, and Zillow News http://feedproxy.google.com/~r/ZillowBlog/~3/ZVlNf8OGwSI/
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