According to Lending Tree and validated by ALEX Labs, across the US $1M+ homes are uncommon. in most of the country. The largest concentrations by state are California with 6, Texas and Florida with 4 and Ohio with 3. The #1 is San Jose with 52.89% of homes, compared to 3.51% in Austin the Texas area with the largest concentration.
Link: https://blog.chime.me/www-alex-realestate/2022/07/07/best-in-texas-cities-with-largest-percent-of-1m-homes-4-in-texas-alex-labs-alex-austin-alex-dallas-alex-houston-alex-san-antonio/
TABLE OF TOP 50 METRO AREAS
| US Rank | TX Rank | Metro | ST | Percentage of owner-occupied units valued at $1 million or more | ALEX Region | ALEX Service Area |
| 1 | San Jose | CA | 52.89% | Yes | ||
| 2 | San Francisco | CA | 40.37% | Yes | ||
| 3 | Los Angeles | CA | 18.55% | Yes | ||
| 4 | San Diego | CA | 13.52% | Yes | ||
| 5 | New York | NY | 10.53% | Yes | ||
| 6 | Seattle | WA | 10.10% | Yes | ||
| 7 | Boston | MA | 8.35% | Yes | ||
| 8 | Washington | DC | 7.14% | Yes | ||
| 9 | Miami | FL | 4.65% | Yes | ||
| 10 | Denver | CO | 4.02% | Yes | ||
| 11 | Sacramento | CA | 3.60% | Yes | ||
| 12 | 1 | Austin | TX | 3.51% | Austin | |
| 13 | Portland | OR | 3.00% | Yes | ||
| 14 | Phoenix | AZ | 2.53% | Yes | ||
| 15 | Nashville | TN | 2.46% | Yes | ||
| 16 | Chicago | IL | 2.45% | Yes | ||
| 17 | 2 | Houston | TX | 2.40% | Houston | |
| 18 | Baltimore | MD | 2.21% | Yes | ||
| 18 | Riverside | CA | 2.21% | Yes | ||
| 20 | 3 | Dallas | TX | 2.20% | Dallas | |
| 21 | Salt Lake City | UT | 2.09% | Yes | ||
| 22 | Charlotte | NC | 2.07% | Yes | ||
| 23 | Jacksonville | FL | 2.05% | Yes | ||
| 24 | Las Vegas | NV | 1.94% | Yes | ||
| 25 | Atlanta | GA | 1.89% | Yes | ||
| 26 | Tampa | FL | 1.83% | Yes | ||
| 27 | Providence | RI | 1.77% | Yes | ||
| 28 | Orlando | FL | 1.70% | Yes | ||
| 29 | Philadelphia | PA | 1.68% | Yes | ||
| 30 | Minneapolis | MN | 1.52% | Yes | ||
| 31 | Birmingham | AL | 1.40% | Yes | ||
| 32 | New Orleans | LA | 1.38% | Yes | ||
| 33 | Raleigh | NC | 1.32% | Coming Soon | Yes | |
| 34 | Virginia Beach | VA | 1.27% | Yes | ||
| 34 | Richmond | VA | 1.27% | Yes | ||
| 36 | 4 | San Antonio | TX | 1.26% | San Antonio | |
| 37 | Milwaukee | WI | 1.16% | Yes | ||
| 38 | Oklahoma City | OK | 1.10% | Yes | ||
| 39 | St. Louis | MO | 1.03% | Yes | ||
| 39 | Kansas City | MO | 1.03% | Yes | ||
| 41 | Hartford | CT | 1.00% | Yes | ||
| 42 | Memphis | TN | 0.95% | Yes | ||
| 43 | Detroit | MI | 0.90% | Yes | ||
| 44 | Louisville | KY | 0.87% | Yes | ||
| 45 | Indianapolis | IN | 0.85% | Yes | ||
| 46 | Cincinnati | OH | 0.78% | Yes | ||
| 47 | Columbus | OH | 0.73% | Yes | ||
| 48 | Pittsburgh | PA | 0.67% | Yes | ||
| 49 | Cleveland | OH | 0.59% | Yes | ||
| 50 | Buffalo | NY | 0.56% | Yes |
Table Link: https://blog.chime.me/www-alex-realestate/2022/07/07/best-in-texas-cities-with-largest-percent-of-1m-homes-4-in-texas-alex-labs-alex-austin-alex-dallas-alex-houston-alex-san-antonio/
LENDING TREE ARTICLE
“…Million-dollar homes are relatively uncommon in most of the country. An average of only 4.71% of the owner-occupied homes in the nation’s 50 largest metros are valued at $1 million or more.
The prevalence of million-dollar homes can vary significantly by metro. For example, 52.89% of owner-occupied homes are valued at $1 million or more in San Jose, Calif., making it the only one of the nation’s 50 largest metros where a majority of owner-occupied homes are worth at least $1 million. In the metro with the smallest share of $1 million homes, Buffalo, N.Y., that figure is 0.56%.
Of the 10 metros with the largest share of million-dollar homes, the four with the highest percentage of million-dollar homes are in California. Driven by factors including dense populations and the significant wealth generated by the tech and entertainment industries, an average of 31.33% of owner-occupied homes across San Jose, San Francisco, Los Angeles and San Diego are valued at at least $1 million…”
Link: https://www.lendingtree.com/home/cities-with-the-largest-share-of-million-dollar-homes/
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