Apex 03-18 LB

American Million Dollar Property Cities

San Jose

America is home to many million dollar properties as the value of real estate continues to grow. But where are the highest value cities with the most million dollar properties.

Finance company LendingTree collected real estate data for more than 155 million properties in the United States. The property values are based on public taxes, deeds, mortgages, foreclosure data, and proprietary local data.

The company then calculated the concentration of million-dollar homes in each city by dividing the number of homes valued at $1 million or higher by the total number of homes in the statistical area.

Most of the cities in the top ten for having the highest percentage of million dollar properties were situated on the coasts of America, with the only inland exception being Denver clinging on in tenth place.

The cities in the top ten are also known for having expensive housing markets in general. They all have median values above $300,000, except for Miami.

California dominates the top of the list, beating off its east coast rivals with four of the top five spots, only New York managing to join the party in fourth place.

Top spot went to San Jose, where the high-tech revolution has caused property prices to rise so much that it is the only city in America where the overall average price of property tops the million dollar mark, with more than half of all properties costing over one million dollars.

The neighbouring city of San Francisco took second place with four out of every ten properties costs over a million.

Third spot went to Los Angeles, where despite the Hollywood glamour property prices lagged behind its north Californian counterparts with only 17.23 per cent of homes topping the million dollar threshold.

Overseas property investors with million dollar budgets should check out the top ten list below for where to invest in the US.

 

Top Ten US Cities for Million Dollar Properties

 

1 – San Jose, California

Share of million-dollar homes: 53.81 per cent

Median value of $1 million-plus homes: $1,505,000

Median value overall: $1,069,000

 

2 – San Francisco, California

Share of million-dollar homes: 40.03 per cent

Median value of $1 million-plus homes $1,409,000

Median value overall: $891,000

 

3 – Los Angeles, California

Share of million-dollar homes: 17.23 per cent

Median value of $1 million-plus homes: $1,419,000

Median value overall: $622,000

 

4 – New York, New York

Share of million-dollar homes: 11.81 per cent

Median value of $1 million-plus homes: $1,384,000

Median value overall: $454,000

 

5 – San Diego, California

Share of million-dollar homes: 10.55 per cent

Median value of $1 million-plus homes: $1,384,000

Median value overall: $563,000

 

6 – Seattle, Washington

Share of million-dollar homes: 9.9 per cent

Median value of $1 million-plus homes: $1,269,000

Median value overall: $461,000

 

7 – Boston, Massachusetts

Share of million-dollar homes: 7.95 per cent

Median value of $1 million-plus homes: $1,329,000

Median value overall: $459,000

 

8 – Washington, D.C.

Share of million-dollar homes: 5.27 per cent

Median value of $1 million-plus homes: $1,254,000

Median value overall: $395,000

 

9 – Miami, Florida

Share of million-dollar homes: 3.79 per cent

Median value of $1 million-plus homes: $1,454,000

Median value overall: $267,000

 

10 – Denver, Colorado

Share of million-dollar homes: 2.65 per cent

Median value of $1 million-plus homes: $1,232,000

Median value overall: $391,000

 

Be the first to comment on "American Million Dollar Property Cities"

Leave a comment

Your email address will not be published.


*


Navigate