Markets
Mapped: The 22 Cities With the Most $1 Million Homes in the U.S.
Map: The 22 Cities With the Most $1 Million Homes
Throughout most of America, owning a $1 million home gives you definite bragging rights – it means you may have six bedrooms, 5,000 square feet, an infinity pool, and at least a few acres of property.
But along the coasts – and particularly in California – the two comma club has lost most of its novelty. That’s because in some places, like San Jose, CA, the majority (53.8%) of homes are already soaring past the $1 million mark, despite most of them looking nothing more than ordinary.
$1 Million Homes by City
Today’s chart uses data from a study by LendingTree, which ranks the largest 50 U.S. cities by the percentage of million dollar homes in each metro area. The data from the study was pulled out of a database of 155 million property prices throughout the country.
Here are the 22 U.S. cities that have at least 1% of their housing stock exceeding the $1 million value mark:
Rank | City | % of $1mm homes | Median home price |
---|---|---|---|
#1 | San Jose, CA | 53.81% | $1,069,000 |
#2 | San Francisco, CA | 40.03% | $891,000 |
#3 | Los Angeles, CA | 17.23% | $622,000 |
#4 | New York, NY | 11.81% | $454,000 |
#5 | San Diego, CA | 10.55% | $563,000 |
#6 | Seattle, WA | 9.90% | $461,000 |
#7 | Boston, MA | 7.95% | $459,000 |
#8 | Washington, DC | 5.27% | $395,000 |
#9 | Miami, FL | 3.79% | $267,000 |
#10 | Denver, CO | 2.65% | $391,000 |
#11 | Austin, TX | 2.16% | $282,000 |
#12 | Portland, OR | 1.95% | $378,000 |
#13 | Sacramento, CA | 1.72% | $378,000 |
#15 | Nashville, TN | 1.52% | $235,000 |
#14 | Houston, TX | 1.52% | $192,000 |
#16 | Phoenix, AZ | 1.51% | $242,000 |
#17 | Providence, RI | 1.32% | $266,000 |
#18 | Dallas, TX | 1.31% | $213,000 |
#19 | Chicago, IL | 1.30% | $223,000 |
#20 | Riverside, CA | 1.12% | $332,000 |
#21 | Baltimore, MD | 1.07% | $270,000 |
#22 | Charlotte, NC | 1.02% | $187,000 |
The data looks pretty telling, with four of the top five cities being located in California. In each of those cities, more than 10% of all homes have surpassed the $1 million mark.
In the Bay Area specifically, prices are amplified even further: San Francisco (40.0%) and San Jose (53.8%) have by far more $1 million homes than other major cities in the country. It’s also worth noting that in San Jose, the median price of all homes is a whopping $1,069,000.
You can just imagine what houses might cost in some of the Silicon Valley towns like Mountain View or Palo Alto, or just over the Golden Gate Bridge in Marin County.
The Bottom of the List
While the above chart shows the 22 U.S. cities with the most $1 million homes, LendingTree also listed the major cities in the country with the fewest.
Buffalo, located in upstate New York, takes this title, with only 0.10% of homes passing the mark and an overall median home price of just $141,000. So, to buy the average home in San Jose, you’d need to sell off about eight average houses in Buffalo.
The other cities with the smallest concentrations of million dollar homes are also located in the Great Lakes and Midwest regions: Pittsburgh (0.17%), Hartford (0.18%), Cleveland (0.19%), and Indianapolis (0.27%).
Markets
Visualizing the Major Product Exported by Each U.S. State
Canada is the top destination for products from 21 states.
Visualizing the Major Product Exported by Each State
The U.S. is the second biggest exporter in the world, accounting for over 8% of global exports.
In this graphic by NeoMam Studios, we analyze the primary product exported by each state, as well as its main destination, utilizing data from the U.S. International Trade Administration.
Canada: The Primary Destination
Canada serves as the largest export market for most of the Midwest, while Mexico holds the top spot as the export destination for much of the Southwest and Southeast. Additionally, Canada stands out as the primary importer of products from 21 states, with China and Germany trailing behind as notable destinations.
State | Destination | Top Product Exported | Value (USD) |
---|---|---|---|
Alabama | 🇩🇪 Germany | Transportation equip. | $3,649M |
Alaska | 🇨🇦 Canada | Minerals | $576M |
Arizona | 🇲🇽 Mexico | Minerals | $1,760M |
Arkansas | 🇨🇦 Canada | Processed Foods | $246M |
California | 🇨🇦 Canada | Computer & Electronics | $5,093M |
Colorado | 🇰🇷 South Korea | Processed Foods | $545M |
Connecticut | 🇩🇪 Germany | Transportation equip. | $1,581M |
Delaware | 🇰🇷 South Korea | Appliances | $419M |
Florida | 🇬🇧 UK | Chemicals | $2,447M |
Georgia | 🇨🇦 Canada | Machinery | $1,629M |
Hawaii | 🇭🇰 Hong Kong | Transportation equip. | $68M |
Idaho | 🇹🇼 Taiwan | Computer & Electronics | $394M |
Illinois | 🇨🇦 Canada | Transportation equip. | $4,517M |
Indiana | 🇨🇦 Canada | Transportation equip. | $6,561M |
Iowa | 🇨🇦 Canada | Machinery | $1,598M |
Kansas | 🇲🇽 Mexico | Agricultural | $1,543M |
Kentucky | 🇨🇦 Canada | Transportation equip. | $3,630M |
Louisiana | 🇨🇳 China | Agricultural | $11,300M |
Maine | 🇨🇦 Canada | Oil & Gas | $504M |
Maryland | 🇫🇷 France | Transportation equip. | $949M |
Massachusetts | 🇨🇳 China | Machinery | $1,298M |
Michigan | 🇨🇳 China | Transportation equip. | $15,361M |
Minnesota | 🇨🇦 Canada | Petroleum & Coal | $2,787M |
Mississippi | 🇵🇦 Panama | Petroleum & Coal | $2,106M |
Missouri | 🇨🇦 Canada | Transportation equip. | $2,390M |
Montana | 🇨🇦 Canada | Minerals | $153M |
Nebraska | 🇲🇽 Mexico | Agricultural | $933M |
Nevada | 🇨🇭 Switzerland | Metal | $1,399M |
New Hampshire | 🇩🇪 Germany | Transportation equip. | $695M |
New Jersey | 🇨🇦 Canada | Chemicals | $2,734M |
New Mexico | 🇲🇽 Mexico | Computer & Electronics | $2,014M |
New York | 🇨🇭 Switzerland | Metal | $18,262M |
North Carolina | 🇨🇳 China | Chemicals | $4,312M |
North Dakota | 🇨🇦 Canada | Petroleum & Coal | $1,441M |
Ohio | 🇨🇦 Canada | Transportation equip. | $5,990M |
Oklahoma | 🇨🇦 Canada | Machinery | $418M |
Oregon | 🇨🇳 China | Computer & Electronics | $6,261M |
Pennsylvania | 🇨🇦 Canada | Chemicals | $2,280M |
Rhode Island | 🇮🇹 Italy | Waste & Scrap | $321M |
South Carolina | 🇩🇪 Germany | Transportation equip. | $3,774M |
South Dakota | 🇨🇦 Canada | Processed Foods | $297M |
Tennessee | 🇨🇦 Canada | Transportation equip. | $2,017M |
Texas | 🇲🇽 Mexico | Petroleum & Coal | $33,627M |
Utah | 🇬🇧 UK | Metal | $6,805M |
Vermont | 🇹🇼 Taiwan | Computer & Electronics | $447M |
Virginia | 🇮🇳 India | Minerals | $1,799M |
Washington | 🇨🇳 China | Agricultural | $10,553M |
West Virginia | 🇮🇳 India | Minerals | $657M |
Wisconsin | 🇨🇦 Canada | Machinery | $1,802M |
Wyoming | 🇮🇩 Indonesia | Chemicals | $200M |
When it comes to the types of exports, transportation equipment emerges as the primary source for the majority of states, with minerals and ores, chemicals, and computer and electronics following closely behind.
For instance, North Carolina ships $4.3 billion worth of chemicals to China, marking one of the longest-distance trade flows among states. Meanwhile, Florida boasts one of the most diverse export portfolios, engaging in trade with Europe, South America, and the Caribbean.
Louisiana heavily relies on the export of agricultural products to China, which contributes significantly to its total GDP. Similarly, Michigan’s transportation equipment exports to Canada constitute a noteworthy portion of the state’s GDP.
In Oregon, exports of semiconductors and other computer parts to China, driven by companies like Intel and Micron, play a crucial role in the state’s economy. Meanwhile, Utah predominantly exports primary metal manufacturing goods to the United Kingdom.
The biggest exporter in the country, Texas, sees a significant portion of its GDP attributed to exports to Mexico, further underlining the state’s economic ties with its southern neighbor.
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