Skip to main content

Where Do The Largest Share Of Million-Dollar Homes Exist?

Jun 09, 2021
Photo of a large home.
Director of Events

A study explores the areas where the highest concentrations of $1 million+ homes can be found in the United States.

High-priced homes are a big source of business for lenders in the jumbo mortgage space. That's why knowing exactly where these homes exist can help lenders target new customers. LendingTree conducted a study to discover where the million-dollar markets are across the 50 largest metros in the U.S.

The company used Census data to access the share of million-dollar homes in these metros and found that these homes don't make up the majority of housing in any of the 50 metros. However, LendingTree reveals that million-dollar homes do make up a large share of homes in some major metros like San Francisco and San Jose, CA.

According to the report, just 4.27% of the owner-occupied homes in the nation's 50 largest metros are valued at $1 million or more. LendingTree also states that how common million-dollar homes vary significantly from metro to metro. 

San Jose, San Francisco and Los Angeles are the top three metros with the highest shares of million-dollar homes. Comparatively, Buffalo, NY; Cleveland, OH and Pittsburgh, PA have the lowest shares of million-dollar homes across the 50 largest metros. 

See LendingTree's full ranking of the 50 largest metros by share of million-dollar homes below.

 

 
About the author
Director of Events
Navi Persaud is Director of Events at NMP.
Published
Jun 09, 2021
Foreign Interest In U.S. Soil Is Up (But Still Low)

Foreign buyers purchased $56B in U.S. homes last year — a 33% increase — though overall activity remains near historic lows

Jul 17, 2025
Black Potential Homebuyers Denied Nearly Twice As Often

Though homeownership rates among Black Americans have improved, they still lag behind other racial groups

Jul 16, 2025
Mortgage Applications Sink 10% As Rates Climb

Purchase and refinance activity stall; VA refinances reverse prior week’s gain

Jul 16, 2025
Fee Cures Quietly Costing Mortgage Lenders Thousands Per Loan

Complexity is rising — and so are the costs of getting fees wrong

Jul 15, 2025
Cost Challenges Hit Young And Old

First American economist finds growing pressure at opposite ends of the age spectrum

Jul 15, 2025
U.S. Housing Shortage Hits Record High: Analysis

Borrower demand remains strong, but is stifled by inventory and affordability barriers

Jul 14, 2025