A record 146 US cities became “million-dollar cities” during 2021.  These additional 146 cities brought the total number of “million-dollar” cities to 481 in the US.

Record-Setting Year of Home Appreciation in 2021 Increased Total of “Million-Dollar” Cities to 481 in US

With the addition of 146 US cities due to a typical home value appreciation of +19.6% in 2021, there are now 481 “million-dollar” cities in the US, according to just-released data from Zillow.

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“Million-dollar” cities are cities in which the typical home value is at least $1M.

According to Zillow, there are now more new million-dollar cities than there were in the past 6 years.  The 146 additional cities that popped the million-dollar threshold in 2021 nearly tripled the number of cities that reached this threshold in 2020.

“The surge in demand for housing last year sent home values skyrocketing, even in places where prices already were sky-high, and that helped tip a record number of cities into the million-dollar club,” said Jeff Tucker, Zillow senior economist.  “The locations of these newly seven-figure towns bust the myth that everyone fled California and the Northeast last year, as California, Massachusetts and New York led the pack for the most new cities with home values above $1M.  Still, we’re seeing how the geography of wealth has begun to shift, as 20221 was the first year for both Idaho and Montana to place any cities on this list, and now those Western states boast three million-dollar cities each.”

Metros with Most $1M Cities (December 2021)

Metro                                            Number of $1M Cities

New York NY                                                   76

San Francisco CA                                             76

Los Angeles CAA                                              57

San Jose CA                                                     22

Boston MA                                                       18

Seattle WA                                                      16

Miami FL                                                         14

Washington DC                                               11

Santa Maria-Santa Barbara  CA                        9

Santa Rosa CA                                                9

Growth Progression of $1M Cities

Year Total # of $1M Cities            # of Net New $1M Cities 

2021          481                                       145

2020          336                                       51

2019          285                                       -7

2018          292                                       20

2017          272                                       38

2011          126                                       -16

According to Zillow, 60% of all million-dollar cities are within just eight metro areas and 44% are in California.

Ten Most Expensive Cities in 2021

City            2021 Typical Value             2011 Typical Value

Indian Creek FL   $28,326,518                 $15,558,572

Atherton CA        $7,698,328                     $3,827,781

Hunts Point WA    $7,013,823                    $2,567,069

Juniper Island FL   $6,582,623                   $3,101,817

Sagaponack NY      $5,957,385                  $3,073,341

Hillsborough CA      $5,369,777                 $2,552,220

Los Altos Hills CA    $5,250,550                 $2,497,842

Golden Beach FL     $5,178,527                 —————

Belleair Shore FL      $4,966,651                —————

Belvedere CA           $4,689,895                2,824,324

Zillow indicated that if current home appreciation trends continue, 49 additional housing markets are expected to become million-dollar cities by mid-2022.

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Thanks to Zillow.





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