Special Report

The 50 American Cities Leading the Nation in Million-Dollar Homes

24/7 Wall St. Staff

Published: December 3, 2023 8:34 am

Last Updated: December 3, 2023 11:04 am

Homes that are topping the million-dollar mark are on the rise. As prices reach incredible highs, many homebuyers don’t have options other than houses upwards of one million dollars. Cities in California like San Francisco, whose Bay Area was once an affordable hippie and music enclave in the 1960s, have now become a place where the average person needs to earn six figures to become a homeowner.

The rise of the U.S. tech industry in the ’90s radically transformed the region, pricing out many people who were not attached to lucrative startups and established tech companies as housing prices in the area began to soar. Currently, the San Francisco metropolitan area and the neighboring San Jose metro area are some of the least affordable places to live. The share of owner-occupied homes valued at $1 million or more is the highest nationwide, at 53% in and around San Francisco and 66% for the homes in the San Jose area. (Here are America’s 25 least affordable housing markets.)

To put that into perspective, the share of million-dollar-plus homes in Los Angeles, the global center of the movie business, is less than half that, at 26%. In New York City, one of the world’s financial centers, only 12% of homes are worth as much. Only seven metropolitan areas in the United States have more than 10% of owner-occupied homes that are worth a million dollars or more, a list that includes Boston, Seattle, and San Diego. (See if renting is more affordable in these cities: American cities where renting is least affordable.)

To identify the 50 cities with the most million-dollar homes, 24/7 Wall St. referenced online lending marketplace LendingTree’s report: “Share of Million-Dollar Homes Rising — Here Are the Metros Where They’re Most Prevalent.” The report uses the latest available census data to find the share of owner-occupied homes that have values of $1 million or more in the 50 largest U.S. metropolitan areas. Cities on this list are ordered by the share of owner-occupied homes that are valued at $1 million or more. All data is from LendingTree’s report. 

The median share of million-dollar-plus homes in these 50 cities is 2.63%, about the same as the shares found in Atlanta and Chicago. In four cities, the share of owner-occupied homes worth at least $1 million is less than 1%: Buffalo, New York; Cleveland; Pittsburgh; and Louisville, Kentucky.

Median home values in these 50 cities range from $184,500 in the Cleveland area to $1.23 million in and around San Jose. San Francisco is the only other city with a median home value topping $1 million. Compare that to the national median home sales price. In the second quarter of 2023, it was $416,100, down from an all-time high of $479,500 in the last three months of 2022, according to the Federal Reserve Bank of St. Louis.  

Out of the 13 largest metro area housing markets — ones with between 1 million and 4 million owner-occupied homes — Los Angeles, New York, and Boston are the only markets with shares of homes worth at least a million dollars that top 10%. Detroit, meanwhile, has the smallest share of these homes at 1.2%.

Here are the American cities with the highest amount of million-dollar homes.

50. Buffalo, NY

Source: benedek / E+ via Getty Images

• Pct. of homes worth $1 million or more: 0.75%
• Median home value: $192,000 — #47 highest out of 50 largest cities
• No. of $1 million+ homes: 2,545 — #50 most
• No. of owner-occupied homes: 341,086 — #45 most

49. Cleveland, OH

Source: Sean Pavone / iStock via Getty Images

• Pct. of homes worth $1 million or more: 0.83%
• Median home value: $184,500 — #50 highest out of 50 largest cities
• No. of $1 million+ homes: 4,819 — #45 most
• No. of owner-occupied homes: 584,025 — #28 most

48. Pittsburgh, PA

Source: Althom / iStock Editorial via Getty Images

• Pct. of homes worth $1 million or more: 0.90%
• Median home value: $190,000 — #49 highest out of 50 largest cities
• No. of $1 million+ homes: 6,581 — #41 most
• No. of owner-occupied homes: 732,879 — #21 most

47. Louisville, KY

Source: jnatkin / iStock via Getty Images

• Pct. of homes worth $1 million or more: 0.92%
• Median home value: $220,500 — #42 highest out of 50 largest cities
• No. of $1 million+ homes: 3,306 — #49 most
• No. of owner-occupied homes: 358,617 — #43 most

46. Memphis, TN

Source: GDMatt66 / iStock Editorial via Getty Images

• Pct. of homes worth $1 million or more: 1.09%
• Median home value: $212,800 — #45 highest out of 50 largest cities
• No. of $1 million+ homes: 3,496 — #48 most
• No. of owner-occupied homes: 319,295 — #48 most

45. Indianapolis, IN

Source: efairhurst / iStock via Getty Images

• Pct. of homes worth $1 million or more: 1.10%
• Median home value: $223,200 — #40 highest out of 50 largest cities
• No. of $1 million+ homes: 6,193 — #42 most
• No. of owner-occupied homes: 564,188 — #30 most

44. Oklahoma City, OK

Source: Sean Pavone / iStock via Getty Images

• Pct. of homes worth $1 million or more: 1.17%
• Median home value: $190,800 — #48 highest out of 50 largest cities
• No. of $1 million+ homes: 4,216 — #46 most
• No. of owner-occupied homes: 361,134 — #42 most

43. Detroit, MI

Ransom Gillis House, Alfred St... (CC BY-SA 2.0) by Warren LeMay

• Pct. of homes worth $1 million or more: 1.22%
• Median home value: $220,900 — #41 highest out of 50 largest cities
• No. of $1 million+ homes: 15,284 — #28 most
• No. of owner-occupied homes: 1,256,798 — #10 most

42. Hartford, CT

Source: SeanPavonePhoto / iStock via Getty Images

• Pct. of homes worth $1 million or more: 1.23%
• Median home value: $278,500 — #33 highest out of 50 largest cities
• No. of $1 million+ homes: 4,070 — #47 most
• No. of owner-occupied homes: 331,352 — #46 most

41. Cincinnati, OH

Source: warrenlemay / Flickr

• Pct. of homes worth $1 million or more: 1.27%
• Median home value: $217,700 — #43 highest out of 50 largest cities
• No. of $1 million+ homes: 7,906 — #36 most
• No. of owner-occupied homes: 622,227 — #25 most

39 (tie). Columbus, OH

Source: McIninch / iStock via Getty Images

• Pct. of homes worth $1 million or more: 1.30%
• Median home value: $254,700 — #35 highest out of 50 largest cities
• No. of $1 million+ homes: 6,882 — #40 most
• No. of owner-occupied homes: 527,897 — #34 most

39 (tie). Kansas City, MO

Source: walencienne / iStock via Getty Images

• Pct. of homes worth $1 million or more: 1.30%
• Median home value: $247,000 — #37 highest out of 50 largest cities
• No. of $1 million+ homes: 7,555 — #37 most
• No. of owner-occupied homes: 583,245 — #29 most

38. Milwaukee, WI

Source: peeterv / iStock via Getty Images

• Pct. of homes worth $1 million or more: 1.39%
• Median home value: $266,200 — #34 highest out of 50 largest cities
• No. of $1 million+ homes: 5,504 — #43 most
• No. of owner-occupied homes: 395,574 — #39 most

37. San Antonio, TX

Source: Kruck20 / iStock via Getty Images

• Pct. of homes worth $1 million or more: 1.66%
• Median home value: $233,500 — #39 highest out of 50 largest cities
• No. of $1 million+ homes: 9,995 — #33 most
• No. of owner-occupied homes: 602,176 — #27 most

36. St. Louis, MO

Source: Sabrina Gordon / iStock Editorial via Getty Images

• Pct. of homes worth $1 million or more: 1.73%
• Median home value: $215,700 — #44 highest out of 50 largest cities
• No. of $1 million+ homes: 14,124 — #30 most
• No. of owner-occupied homes: 814,805 — #18 most

35. Birmingham, AL

Milward Castle (CC BY-SA 2.0) by Robert Cutts

• Pct. of homes worth $1 million or more: 1.75%
• Median home value: $208,800 — #46 highest out of 50 largest cities
• No. of $1 million+ homes: 5,384 — #44 most
• No. of owner-occupied homes: 307,177 — #49 most

34. Virginia Beach, VA

Source: Davel5957 / iStock via Getty Images

• Pct. of homes worth $1 million or more: 1.76%
• Median home value: $284,800 — #29 highest out of 50 largest cities
• No. of $1 million+ homes: 8,001 — #35 most
• No. of owner-occupied homes: 453,942 — #36 most

33. Richmond, VA

Source: Greg Bethmann / iStock via Getty Images

• Pct. of homes worth $1 million or more: 2.00%
• Median home value: $299,600 — #26 highest out of 50 largest cities
• No. of $1 million+ homes: 6,978 — #39 most
• No. of owner-occupied homes: 349,141 — #44 most

32. Minneapolis, MN

Source: JenniferPhotographyImaging / iStock via Getty Images

• Pct. of homes worth $1 million or more: 2.06%
• Median home value: $330,400 — #22 highest out of 50 largest cities
• No. of $1 million+ homes: 21,412 — #25 most
• No. of owner-occupied homes: 1,041,941 — #13 most

31. Philadelphia, PA

Source: ggustin / iStock via Getty Images

• Pct. of homes worth $1 million or more: 2.15%
• Median home value: $300,300 — #24 highest out of 50 largest cities
• No. of $1 million+ homes: 35,384 — #18 most
• No. of owner-occupied homes: 1,643,030 — #5 most

30. New Orleans, LA

Source: benedek / iStock Unreleased via Getty Images

• Pct. of homes worth $1 million or more: 2.19%
• Median home value: $236,100 — #38 highest out of 50 largest cities
• No. of $1 million+ homes: 7,267 — #38 most
• No. of owner-occupied homes: 331,108 — #47 most

29. Raleigh, NC

Source: Dee / iStock Editorial via Getty Images

• Pct. of homes worth $1 million or more: 2.46%
• Median home value: $346,400 — #20 highest out of 50 largest cities
• No. of $1 million+ homes: 9,131 — #34 most
• No. of owner-occupied homes: 371,855 — #41 most

27 (tie). Orlando, FL

Source: Brandi Lyon Photography / iStock Editorial via Getty Images

• Pct. of homes worth $1 million or more: 2.49%
• Median home value: $303,300 — #23 highest out of 50 largest cities
• No. of $1 million+ homes: 15,621 — #27 most
• No. of owner-occupied homes: 626,752 — #24 most

27 (tie). Jacksonville, FL

Source: Purdue9394 / iStock via Getty Images

• Pct. of homes worth $1 million or more: 2.49%
• Median home value: $280,600 — #31 highest out of 50 largest cities
• No. of $1 million+ homes: 10,666 — #32 most
• No. of owner-occupied homes: 428,180 — #37 most

26. Chicago, IL

Source: stevegeer / E+ via Getty Images

• Pct. of homes worth $1 million or more: 2.60%
• Median home value: $281,100 — #30 highest out of 50 largest cities
• No. of $1 million+ homes: 62,954 — #10 most
• No. of owner-occupied homes: 2,420,225 — #2 most

25. Atlanta, GA

Source: Kirkikis / iStock Editorial via Getty Images

• Pct. of homes worth $1 million or more: 2.65%
• Median home value: $300,000 — #25 highest out of 50 largest cities
• No. of $1 million+ homes: 40,459 — #15 most
• No. of owner-occupied homes: 1,524,042 — #8 most

24. Providence, RI

Source: aimintang / iStock Unreleased via Getty Images

• Pct. of homes worth $1 million or more: 2.67%
• Median home value: $364,000 — #17 highest out of 50 largest cities
• No. of $1 million+ homes: 11,264 — #31 most
• No. of owner-occupied homes: 422,590 — #38 most

23. Tampa, FL

Source: felixmizioznikov / iStock via Getty Images

• Pct. of homes worth $1 million or more: 2.79%
• Median home value: $279,600 — #32 highest out of 50 largest cities
• No. of $1 million+ homes: 24,737 — #22 most
• No. of owner-occupied homes: 887,680 — #17 most

22. Houston, TX

Source: Faina Gurevich / iStock Editorial via Getty Images

• Pct. of homes worth $1 million or more: 2.82%
• Median home value: $252,300 — #36 highest out of 50 largest cities
• No. of $1 million+ homes: 45,095 — #14 most
• No. of owner-occupied homes: 1,599,497 — #6 most

21. Dallas, TX

Source: SoleilC / iStock via Getty Images

• Pct. of homes worth $1 million or more: 3.02%
• Median home value: $294,900 — #27 highest out of 50 largest cities
• No. of $1 million+ homes: 51,327 — #13 most
• No. of owner-occupied homes: 1,696,901 — #4 most

20. Charlotte, NC

Source: Kruck20 / iStock via Getty Images

• Pct. of homes worth $1 million or more: 3.13%
• Median home value: $286,600 — #28 highest out of 50 largest cities
• No. of $1 million+ homes: 21,905 — #24 most
• No. of owner-occupied homes: 698,980 — #22 most

19. Baltimore, MD

Source: drnadig / E+ via Getty Images

• Pct. of homes worth $1 million or more: 3.16%
• Median home value: $351,200 — #19 highest out of 50 largest cities
• No. of $1 million+ homes: 23,820 — #23 most
• No. of owner-occupied homes: 753,741 — #20 most

18. Las Vegas, NV

Source: MaxFX / iStock via Getty Images

• Pct. of homes worth $1 million or more: 3.42%
• Median home value: $365,800 — #16 highest out of 50 largest cities
• No. of $1 million+ homes: 16,543 — #26 most
• No. of owner-occupied homes: 484,085 — #35 most

17. Riverside, CA

Source: miroslav_1 / iStock Editorial via Getty Images

• Pct. of homes worth $1 million or more: 3.53%
• Median home value: $453,000 — #12 highest out of 50 largest cities
• No. of $1 million+ homes: 33,186 — #19 most
• No. of owner-occupied homes: 940,029 — #16 most

16. Phoenix, AZ

Phoenix-Wrigley Mansion-1929-1 (CC BY-SA 3.0) by Tony the Marine

• Pct. of homes worth $1 million or more: 4.35%
• Median home value: $374,100 — #15 highest out of 50 largest cities
• No. of $1 million+ homes: 54,430 — #12 most
• No. of owner-occupied homes: 1,250,606 — #11 most

15. Nashville, TN

Source: Kruck20 / iStock via Getty Images

• Pct. of homes worth $1 million or more: 5.06%
• Median home value: $344,900 — #21 highest out of 50 largest cities
• No. of $1 million+ homes: 26,863 — #21 most
• No. of owner-occupied homes: 531,346 — #33 most

13 (tie). Portland, OR

Portland scene (CC BY 2.0) by Paul Trafford

• Pct. of homes worth $1 million or more: 5.11%
• Median home value: $483,000 — #11 highest out of 50 largest cities
• No. of $1 million+ homes: 31,760 — #20 most
• No. of owner-occupied homes: 621,448 — #26 most

13 (tie). Salt Lake City, UT

Source: fotoVoyager / E+ via Getty Images

• Pct. of homes worth $1 million or more: 5.11%
• Median home value: $444,200 — #13 highest out of 50 largest cities
• No. of $1 million+ homes: 15,179 — #29 most
• No. of owner-occupied homes: 297,148 — #50 most

12. Miami, FL

Source: fotofrog / E+ via Getty Images

• Pct. of homes worth $1 million or more: 5.91%
• Median home value: $362,500 — #18 highest out of 50 largest cities
• No. of $1 million+ homes: 82,624 — #9 most
• No. of owner-occupied homes: 1,398,254 — #9 most

11. Austin, TX

Texas governors mansion (CC BY-SA 3.0) by Larry D. Moore

• Pct. of homes worth $1 million or more: 6.32%
• Median home value: $397,100 — #14 highest out of 50 largest cities
• No. of $1 million+ homes: 35,505 — #17 most
• No. of owner-occupied homes: 561,771 — #31 most

10. Sacramento, CA

Source: Sundry Photography / iStock Editorial via Getty Images

• Pct. of homes worth $1 million or more: 6.54%
• Median home value: $513,600 — #9 highest out of 50 largest cities
• No. of $1 million+ homes: 35,831 — #16 most
• No. of owner-occupied homes: 547,793 — #32 most

9. Denver, CO

Source: RiverNorthPhotography / iStock Unreleased via Getty Images

• Pct. of homes worth $1 million or more: 7.79%
• Median home value: $519,600 — #8 highest out of 50 largest cities
• No. of $1 million+ homes: 60,653 — #11 most
• No. of owner-occupied homes: 778,989 — #19 most

8. Washington, DC

Sheridan-Kalorama - Blizzard of 2010 (CC BY-SA 3.0) by AgnosticPreachersKid

• Pct. of homes worth $1 million or more: 9.71%
• Median home value: $497,800 — #10 highest out of 50 largest cities
• No. of $1 million+ homes: 149,015 — #6 most
• No. of owner-occupied homes: 1,535,252 — #7 most

7. Boston, MA

Source: benedek / iStock via Getty Images

• Pct. of homes worth $1 million or more: 11.82%
• Median home value: $561,500 — #6 highest out of 50 largest cities
• No. of $1 million+ homes: 141,245 — #8 most
• No. of owner-occupied homes: 1,195,386 — #12 most

6. New York, NY

Source: Public Domain / Wikimedia Commons

• Pct. of homes worth $1 million or more: 11.94%
• Median home value: $533,700 — #7 highest out of 50 largest cities
• No. of $1 million+ homes: 460,865 — #3 most
• No. of owner-occupied homes: 3,860,279 — #1 most

5. Seattle, WA

Source: aiisha5 / iStock via Getty Images

• Pct. of homes worth $1 million or more: 18.70%
• Median home value: $638,400 — #5 highest out of 50 largest cities
• No. of $1 million+ homes: 180,804 — #5 most
• No. of owner-occupied homes: 966,991 — #14 most

4. San Diego, CA

Source: AutumnSkyPhotography / iStock Editorial via Getty Images

• Pct. of homes worth $1 million or more: 23.15%
• Median home value: $722,200 — #4 highest out of 50 largest cities
• No. of $1 million+ homes: 146,224 — #7 most
• No. of owner-occupied homes: 631,760 — #23 most

3. Los Angeles, CA

Source: dszc / iStock via Getty Images

• Pct. of homes worth $1 million or more: 26.48%
• Median home value: $748,700 — #3 highest out of 50 largest cities
• No. of $1 million+ homes: 576,537 — #1 most
• No. of owner-occupied homes: 2,176,998 — #3 most

2. San Francisco, CA

Source: rarrarorro / iStock via Getty Images

• Pct. of homes worth $1 million or more: 52.91%
• Median home value: $1,042,300 — #2 highest out of 50 largest cities
• No. of $1 million+ homes: 507,914 — #2 most
• No. of owner-occupied homes: 959,987 — #15 most

1. San Jose, CA

Source: Sundry Photography / iStock via Getty Images

• Pct. of homes worth $1 million or more: 66.28%
• Median home value: $1,237,800 — #1 highest out of 50 largest cities
• No. of $1 million+ homes: 250,179 — #4 most
• No. of owner-occupied homes: 377,447 — #40 most