Where are the most million-dollar homes? Where the money is, of course. LendingTree® set out to pinpoint the hotspots.
LendingTree analysts ranked the top 50 cities by the share homes valued over $1 million as recorded in the My LendingTree property value database, which is a collection of real estate data for more than 155 million U.S. properties. The study also includes the median home values.
Key Findings:
- California is home to the top three places with the highest concentration of million-dollar homes. San Jose, San Francisco, Los Angeles and San Diego are also four of the only five metros where more than 10 percent of homes are valued over $1 million.
- Most cities in the top 10 are on the coasts, with the exception of Denver, which is the farthest inland.
- The cities in the top 10 are known for having expensive housing markets in general. They all have median values over $300,000, except for Miami.
- Rust Belt cities dominate the 10 places with the smallest concentration of million-dollar homes. These are also generally more affordable cities and have median values below $200,000, with the exception of Hartford, Conn.
- Buffalo, N.Y. has the lowest share of homes over $1 million with only one out of every 1,000 homes passing the threshold.
Cities with highest share of million-dollar homes
#1 San Jose
- Share of million-dollar homes: 53.81%
- Median value of $1 million-plus homes: $1,505,000
- Median value overall: $1,069,000
#2 San Francisco
- Share of million-dollar homes: 40.03%
- Median value of $1 million-plus homes $1,409,000
- Median value overall: $891,000
#3 Los Angeles
- Share of million-dollar homes: 17.23%
- Median value of $1 million-plus homes: $1,419,000
- Median value overall: $622,000
Cities with lowest share of million-dollar homes
#48 Hartford, Conn.
- Share of million-dollar homes: 0.18%
- Median value of $1 million-plus homes: $1,252,000
- Median value overall: $223,000
#49 Pittsburgh
- Share of million-dollar homes: 0.17%
- Median value of $1 million-plus homes: $1,207,000
- Median value overall: $149,000
#50 Buffalo, N.Y.
- Share of million-dollar homes: 0.10%
- Median value of $1 million-plus homes: $1,280,000
- Median value overall: $141,000
To view the full report, visit: https://www.lendingtree.com/home/mortgage/lendingtree-reveals-cities-highest-share-million-dollar-homes/.
| Rank | Metro | Share of Million- Dollar Homes | Median Price All Homes | Median Price Homes Over $1 Million |
| 1 | San Jose, Calif. | 53.81% | $1,069,000 | $1,505,000 |
| 2 | San Francisco | 40.03% | $891,000 | $1,409,000 |
| 3 | Los Angeles | 17.23% | $622,000 | $1,419,000 |
| 4 | New York | 11.81% | $454,000 | $1,384,000 |
| 5 | San Diego | 10.55% | $563,000 | 1,326,000 |
| 6 | Seattle | 9.90% | $461,000 | $1,269,000 |
| 7 | Boston | 7.95% | $459,000 | $1,329,000 |
| 8 | Washington | 5.27% | $395,000 | $1,254,000 |
| 9 | Miami | 3.79% | $267,000 | $1,454,000 |
| 10 | Denver | 2.65% | $391,000 | $1,232,000 |
| 11 | Austin, Texas | 2.16% | $282,000 | $1,310,000 |
| 12 | Portland, Ore. | 1.95% | $378,000 | $1,237,000 |
| 13 | Sacramento, Calif. | 1.72% | $386,000 | $1,239,000 |
| 14 | Houston | 1.52% | $192,000 | $1,401,000 |
| 15 | Nashville, Tenn. | 1.52% | $235,000 | $1,283,000 |
| 16 | Phoenix | 1.51% | $242,000 | $1,368,000 |
| 17 | Providence, R.I. | 1.32% | $266,000 | $1,340,000 |
| 18 | Dallas | 1.31% | $213,000 | $1,395,500 |
| 19 | Chicago | 1.30% | $223,000 | $1,231,000 |
| 20 | Riverside, Calif. | 1.12% | $332,000 | $1,339,000 |
| 21 | Baltimore | 1.07% | $270,000 | $1,214,000 |
| 22 | Charlotte, N.C. | 1.02% | $187,000 | $1,295,000 |
| 23 | Jacksonville, Fla. | 0.92% | $179,000 | $1,302,000 |
| 24 | Raleigh, N.C. | 0.91% | $222,000 | $1,247,000 |
| 25 | Tampa, Fla. | 0.90% | $190,000 | $1,286,000 |
| 26 | Minneapolis | 0.88% | $260,000 | $1,283,000 |
| 27 | Atlanta | 0.85% | $191,000 | $1,297,000 |
| 28 | Las Vegas | 0.80% | $239,000 | $1,354,000 |
| 29 | Orlando, Fla. | 0.78% | $216,000 | $1,332,000 |
| 30 | Salt Lake City | 0.74% | $308,000 | $1,238,000 |
| 31 | Philadelphia | 0.69% | $220,000 | $1,234,000 |
| 32 | New Orleans | 0.65% | $181,000 | $1,239,500 |
| 33 | Virginia Beach, Va. | 0.55% | $221,000 | $1,256,000 |
| 34 | Birmingham, Ala. | 0.50% | $143,000 | $1,225,000 |
| 35 | Milwaukee | 0.50% | $206,000 | $1,278,000 |
| 36 | Richmond, Va. | 0.50% | $218,000 | $1,236,000 |
| 37 | St.Louis | 0.48% | $154,000 | $1,296,000 |
| 38 | Detroit | 0.44% | $149,000 | $1,301,500 |
| 39 | San Antonio | 0.41% | $191,000 | $1,319,000 |
| 40 | Kansas City, Mo. | 0.39% | $169,000 | $1,289,000 |
| 41 | Cincinnati | 0.34% | $158,000 | $1,315,000 |
| 42 | Oklahoma City | 0.33% | $140,000 | $1,339,000 |
| 43 | Louisville, Ky. | 0.30% | $157,000 | $1,249,000 |
| 44 | Columbus, Ohio | 0.30% | $174,000 | $1,300,000 |
| 45 | Memphis, Tenn. | 0.28% | $130,000 | $1,290,000 |
| 46 | Indianapolis | 0.27% | $127,000 | $1,306,000 |
| 47 | Cleveland | 0.19% | $131,000 | $1,368,500 |
| 48 | Hartford, Conn. | 0.18% | $223,000 | $1,252,000 |
| 49 | Pittsburgh | 0.17% | $149,000 | $1,207,000 |
| 50 | Buffalo, N.Y. | 0.10% | $141,000 | $1,280,000 |
