Subscribe to receive American City & County Newsletters
Catch up on the latest trends, industry news, articles, research and analysis for government professionals
These 10 cities have the highest share of million-dollar homes
As of 2023, 10.57% of owner-occupied homes in the country’s 50 largest metros were valued at $1 million or more. Here are the 10 cities with the highest share of million-dollar homes.
November 25, 2024
10 Slides
Boston is among the top 10 major cities with the highest share of million-dollar homes in the U.S. Click through the slideshow to see the full list.Unsplash
It’s no secret that national home prices have been rising in recent years, yet million-dollar homes remain comparatively rare in U.S. metros, according to a recent analysis by LendingTree.
As of 2023, 10.57% of owner-occupied homes in the country’s 50 largest metros were valued at $1 million or more. However, the number of million-dollar homes is growing, as well, increasing by 1.32 million—or 2.86%—in the largest 50 metros compared with 2022.
The reason for the uptick has less to do with an influx of interested wealthy buyers and more to do with a lack of supply. “Though estimates vary, experts generally agree the U.S. is short millions of housing units,” LendingTree’s November report states. “This puts significant upward pressure on housing costs, as prices tend to rise when supply is low and demand is high.”
Million-dollar homes are more concentrated in some large metros than others. To see which 10 cities in the U.S. have the highest share of owner-occupied million-dollar units in the U.S., click the slideshow above.
