Key Highlights
- New LendingTree report indicates metro areas with most and least homes valued at $1M+
- $1M homes = 3X median home price of approximately $350,000
What Makes A Home Worth $1M+?
First and foremost…LOCATION, LOCATION, LOCATION
After LOCATION come square footage, quality of materials and finishes and construction type.
New LendingTree Study Identifies Metros with Highest/Lowest Percentage of Owner-Occupied Homes Valued at $1M or More
This LendingTree study points out that only five US metros had a portion of owner-occupied $1M homes that exceeded 10% of that metro’s housing stock. Simultaneously, the portion of $1M homes accounted for less than 1% of all 10 of the most expensive metros below.
Metros with Greatest Percentages of $1M+ Homes
Metro % of $1M+ Units Median Value
San Jose CA 47% $968,800
San Francisco CA 36% $840,600
Los Angeles CA 17% $613,400
San Diego CA 12% $563,700
New York NY 10% $450,900
Seattle WA 9% $436,100
Boston MA 7% $437,500
Washington DC 7% $424,000
Miami FL 4% $280,400
Denver CO 4% $380,900
Metros with Smallest Percentages of $1M+ Homes
Metro % of +$1M Units Median Value
Kansas City MO 0.9% $183,300
Louisville KY 0.9% $169,500
Memphis TN 0.9% $152,200
Detroit CO 0.9% $170,000
Indianapolis IN 0.8% $163,100
Cincinnati OH 0.7% $168,900
Columbus OH 0.7% $184,800
Pittsburgh PA 0.7% $154,000
Cleveland OH 0.7% $151,600
Buffalo NY 0.5% $148,500
Thanks to LendingTree.
URGENT: 2021 Results Released. New FREE On-Line Web Event Reveals 17 Surprising Secrets Of The Top 100 Millionaire Agents. Get Your FREE Spot For The On-Line Webinar Now. When You Attend This Event You Will Have A Sense Of Relief Knowing You Can FINALLY Laugh At Your Money Worries – If You Follow This Simple Plan. Learn How To Generate 100’s of Motivated Leads Without Coming Off As A Pushy Salesperson and Losing Your Soul. Learn Now How To Become One of the 1000s of Agents Making HUGE Money NOW Who Never Thought They Could.
P.S. Limited Space Available. 235 Spots Left.
