Markets
The U.S. States With the Most Million Dollar Homes
Whether it’s a mansion in the suburbs or a penthouse in the city center, the price tag of any prime piece of real estate is usually measured in the millions.
Where in the United States can the most multi-million dollar homes be found – and which specific cities have the highest growth rates for high-end property listings?
Million Dollar Homes
Today’s interactive visualization comes to us from Overflow Data, and it shows the percentage of homes worth greater than a million dollars in each state, as well as D.C.
The first thing that stands out here is the skewed distribution.
The rate of million dollar homes per state ranges from 0.5% (Indiana) to 17.3% (D.C.), but the median is only 1.1%. That means that the vast amount of states are closer to the zero end of the spectrum.
In fact, only six jurisdictions exceed the 4% mark:
Rank | Jurisdiction | % of million dollar homes |
---|---|---|
#1 | Washington, D.C. | 17.3% |
#2 | California | 13.6% |
#3 | Hawaii | 13.5% |
#4 | New York | 7.0% |
#5 | Massachusetts | 5.2% |
#6 | Connecticut | 4.5% |
Leading the pack is Washington D.C. with 17.3% of all homes exceeding the $1 million benchmark. This puts the nation’s capital ahead of California (13.6%), Hawaii (13.5%), and New York (7.0%).
The high degree of expensive homes in D.C. is not surprising, since the district is a small, urban jurisdiction, with no real “countryside” where more affordable homes can usually be found.
Changing Cities
But what specific cities are trending upwards? Where are there increasing amounts of homes worth over a million bucks?
The above map from Realtor.com breaks down the cities that have the biggest increases in million dollar homes over the last three years.
Here’s a closer look:
Rank | City | >$1mm homes (2017) | >$1 mm homes (2014) | Difference |
---|---|---|---|---|
#1 | Denver, CO | 9.4% | 3.3% | +6.1% |
#2 | Santa Rosa, CA | 14.1% | 8.1% | +6.0% |
#3 | Boulder, CO | 14.7% | 9.0% | +5.7% |
#4 | Truckee, CA | 12.4% | 7.1% | +5.3% |
#5 | Fredericksburg, TX | 13.6% | 9.8% | +3.8% |
#6 | Heber, UT | 10.5% | 6.8% | +3.7% |
#7 | Boston, MA | 9.9% | 6.8% | +3.1% |
#8 | Seattle, WA | 7.7% | 5.3% | +2.4% |
#9 | Santa Fe, NM | 11.7% | 9.4% | +2.3% |
#10 | Charleston, SC | 7.0% | 4.9% | +2.1% |
The most impressive representation on the list comes from Colorado, where Denver and Boulder are #1 and #3 respectively.
That said, these cities are anomalies within Colorado as a whole, which has just 2.9% of all homes worth $1 million or more.
Markets
Will Tesla Lose Its Spot in the Magnificent Seven?
We visualize the recent performance of the Magnificent Seven stocks, uncovering a clear divergence between the group’s top and bottom names.
Will Tesla Lose Its Spot in the Magnificent Seven?
This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
In this graphic, we visualize the year-to-date (YTD) performance of the “Magnificent Seven”, a leading group of U.S. tech stocks that gained prominence in 2023 as the replacement of FAANG stocks.
All figures are as of March 12, 2024, and are listed in the table below.
Rank | Company | YTD Change (%) |
---|---|---|
1 | Nvidia | 90.8 |
2 | Meta | 44.3 |
3 | Amazon | 16.9 |
4 | Microsoft | 12 |
5 | 0.2 | |
6 | Apple | -6.7 |
7 | Tesla | -28.5 |
From these numbers, we can see a clear divergence in performance across the group.
Nvidia and Meta Lead
Nvidia is the main hero of this show, setting new all-time highs seemingly every week. The chipmaker is currently the world’s third most valuable company, with a valuation of around $2.2 trillion. This puts it very close to Apple, which is currently valued at $2.7 trillion.
The second best performer of the Magnificent Seven has been Meta, which recently re-entered the trillion dollar club after falling out of favor in 2022. The company saw a massive one-day gain of $197 billion on Feb 2, 2024.
Apple and Tesla in the Red
Tesla has lost over a quarter of its value YTD as EV hype continues to fizzle out. Other pure play EV stocks like Rivian and Lucid are also down significantly in 2024.
Meanwhile, Apple shares have struggled due to weakening demand for its products in China, as well as the company’s lack of progress in the artificial intelligence (AI) space.
Investors may have also been disappointed to hear that Apple’s electric car project, which started a decade ago, has been scrapped.
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