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Mapped: The 22 Cities With the Most $1 Million Homes in the U.S.

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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:

RankCity% of $1mm homesMedian home price
#1San Jose, CA53.81%$1,069,000
#2San Francisco, CA40.03%$891,000
#3Los Angeles, CA17.23%$622,000
#4New York, NY11.81%$454,000
#5San Diego, CA10.55%$563,000
#6Seattle, WA9.90%$461,000
#7Boston, MA7.95%$459,000
#8Washington, DC5.27%$395,000
#9Miami, FL3.79%$267,000
#10Denver, CO2.65%$391,000
#11Austin, TX2.16%$282,000
#12Portland, OR1.95%$378,000
#13Sacramento, CA1.72%$378,000
#15Nashville, TN1.52%$235,000
#14Houston, TX1.52%$192,000
#16Phoenix, AZ1.51%$242,000
#17Providence, RI1.32%$266,000
#18Dallas, TX1.31%$213,000
#19Chicago, IL1.30%$223,000
#20Riverside, CA1.12%$332,000
#21Baltimore, MD1.07%$270,000
#22Charlotte, NC1.02%$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%).

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Chart of the Week

Mapping the World’s Busiest Air Routes

Flying can get you almost anywhere, but often people are journeying between two popular destinations. Here we map the busiest air routes globally.

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Mapping the World’s Busiest Air Routes

Modern air travel gives us almost unlimited possibilities for getting around.

Whether you are acting on your wanderlust to explore new and exotic destinations, hopping to a familiar island for a well-deserved vacation, or jetsetting to London in the comfort of business class, the modern airline industry can get you almost anywhere you need to go.

But while flying allows us to have unique experiences, it’s often the case that we are all coming and going from many of the same popular destinations. As a result, the world’s busiest air routes have hundreds of flights per day connecting important city pairs together.

Ranking City Pairs

Today’s chart pulls data from OAG, which has compiled a detailed report ranking the busiest domestic and international air routes from around the globe.

It’s worth noting that the data is over the period of March 2018 to February 2019, and it excludes carriers that operate fewer than 500 routes per year.

Let’s dive in to see which city pairs have the most air travel between them.

Domestic Routes

Domestic routes are far more popular than international routes globally. According to the report, there are 15 domestic routes that have more operating flights per year than any international route anywhere.

Here’s a look at the top 10 domestic routes:

RankCountryCity PairFlights (Annually)Carriers
#1๐Ÿ‡ฐ๐Ÿ‡ทJeju โ†”๏ธ Seoul79,4607
#2๐Ÿ‡ฆ๐Ÿ‡บMelbourne โ†”๏ธ Sydney54,1024
#3๐Ÿ‡ฎ๐Ÿ‡ณMumbai โ†”๏ธ Delhi45,1886
#4๐Ÿ‡ง๐Ÿ‡ทSรฃo Paulo โ†”๏ธ Rio de Janeiro39,7473
#5๐Ÿ‡ฏ๐Ÿ‡ตFukuoka โ†”๏ธ Toyko39,4064
#6๐Ÿ‡ป๐Ÿ‡ณHanoi โ†”๏ธ Ho Chi Minh City39,2913
#7๐Ÿ‡ฏ๐Ÿ‡ตHokkaido โ†”๏ธ Tokyo39,2714
#8๐Ÿ‡ฎ๐Ÿ‡ฉJakarta โ†”๏ธ Surabaya City37,7626
#9๐Ÿ‡บ๐Ÿ‡ธLos Angeles โ†”๏ธ San Francisco35,3655
#10๐Ÿ‡ธ๐Ÿ‡ฆJeddah โ†”๏ธ Riyadh35,1495

The busiest domestic route might be a surprise, unless you are familiar with Asian geography.

With almost 80,000 annual flights, the 300-mile hop between Seoul and Jeju Island in South Korea is the busiest air route in the world by a large margin. Overall, there are seven carriers competing on it each day, with over 200 daily flights available between them.

What makes Jeju so popular?

Known as the “Hawaii of South Korea”, this volcanic island is an extremely popular vacation destination within the country, and it hosts roughly 15 million guests per year.

International Routes

On an international basis, the busiest route has almost 50,000 fewer flights per year than the Jeju-Seoul city pair listed above. Not surprisingly, this route – and many other top international routes – are also located in the Asia Pacific region.

RankCountriesCity PairFlights (Annually)Carriers
#1๐Ÿ‡ฒ๐Ÿ‡พ๐Ÿ‡ธ๐Ÿ‡ฌKuala Lumpur โ†”๏ธ Singapore30,1878
#2๐Ÿ‡ญ๐Ÿ‡ฐ๐Ÿ‡น๐Ÿ‡ผHong Kong โ†”๏ธ Taipei28,4475
#3๐Ÿ‡ฎ๐Ÿ‡ฉ๐Ÿ‡ธ๐Ÿ‡ฌJakarta โ†”๏ธ Singapore27,0467
#4๐Ÿ‡ญ๐Ÿ‡ฐ๐Ÿ‡จ๐Ÿ‡ณHong Kong โ†”๏ธ Shanghai20,6785
#5๐Ÿ‡ฎ๐Ÿ‡ฉ๐Ÿ‡ฒ๐Ÿ‡พJakarta โ†”๏ธ Kuala Lumpur19,7418
#6๐Ÿ‡ฐ๐Ÿ‡ท๐Ÿ‡ฏ๐Ÿ‡ตSeoul โ†”๏ธ Osaka19,7118
#7๐Ÿ‡บ๐Ÿ‡ธ๐Ÿ‡จ๐Ÿ‡ฆNew York (LGA) โ†”๏ธ Toronto17,0383
#8๐Ÿ‡ญ๐Ÿ‡ฐ๐Ÿ‡ฐ๐Ÿ‡ทHong Kong โ†”๏ธ Seoul15,7709
#9๐Ÿ‡น๐Ÿ‡ญ๐Ÿ‡ธ๐Ÿ‡ฌBangkok โ†”๏ธ Singapore14,6985
#10๐Ÿ‡ฆ๐Ÿ‡ช๐Ÿ‡ฐ๐Ÿ‡ผDubai โ†”๏ธ Kuwait14,5814

The short hop between Singapore and Kuala Lumpur takes only one hour, and it connects two major Southeast Asian commercial hubs. The route has 41 flights per day between eight airlines, making it one of the most competitive routes globally.

The busiest international route outside of the Asia Pacific is between Toronto and New York (LaGuardia) with 17,038 annual flights. Interestingly, it only has three competing carriers – the lowest of any of the top 10 routes.

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Visualizing Africa’s Free Trade Ambitions

The Gambia recently became the latest country to ratify the African Continental Free Trade Area (AfCFTA), helping the landmark agreement reach critical mass to move forward.

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africa free trade

Visualizing Africa’s Free Trade Ambitions

A united African continent working towards common goals would be a major force on the global economic stage.

To this end, nations in the region have been working towards an ambitious plan to create the worldโ€™s largest trade area. The Gambia recently became the latest country to ratify the African Continental Free Trade Area (AfCFTA), helping the agreement reach critical mass to move forward.

Todayโ€™s graphic helps put the region โ€“ and the status of AfCFTA โ€“ into perspective.

The Patchwork Problem

One key to unlocking the region’s economic potential is making it easier for Africa’s 55 countries to trade with one another.

Currently, Africa is a patchwork of regulations and tariffs, and trade between countries has suffered as a result. For example, only 10% of Nigeria’s annual trade activity is with other African countries. This is a surprising given the country’s dominant economic standing and location firmly in the center of the continent.

As a whole, Africa’s intra-continental trade level hovers at just around 20%, while nations in Europe and Asia are at 69% and 59%, respectively. Clearly, there is a lot of room for growth.

What is AfCFTA?

AfCFTA is the biggest free trade agreement since the establishment of the World Trade Organization.

The objective of the agreement is to create a single continental market for goods and services, with free movement of business people and investments.

Last year, 44 African leaders signed an agreement to ratify AfCFTA, with half that number needed to move the agreement forward. Earlier this week, The Gambia was the 22nd country to announce that its government has ratified the agreement, meeting the threshold to officially put the wheels in motion.

We have witnessed a historic moment for the African Continent. AfCFTA is now set to become operational within
the month, creating a single continental market for goods
and services.

โ€“ Mark-Anthony Johnson, CEO, JIC Holdings

The good news for the agreement is that many of Africa’s largest economies โ€“ including Egypt and South Africa โ€“ are already on board. There is, however, one significant holdout.

The Elephant in the Room

Even though the threshold for pushing AfCFTA forward has been reached, Nigeria’s lack of commitment is still a major blow to the strength and credibility of the agreement.

Nigeria’s situation is complicated. The country’s economic prospects are bright, and Lagos is on a trajectory to become the world’s largest city over the next few decades. On the other hand, there is fierce opposition from labor unions, and the country is home to largest concentration of people living in extreme poverty in the world.

[AfCFTA is] an extremely dangerous and radioactive
neo-liberal policy initiative.

โ€“ Ayuba Wabba, President of NLC, Nigeriaโ€™s largest labor union

While the majority of African nations appear to be on board with the plan to enact AfCFTA, it remains to be seen whether Nigeria comes along for the ride or decides to go it alone.

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