- A recent study by online loan marketplace LendingTree found the share of million-dollar homes in the 50 largest US metro areas.
- In the San Jose metro area, the percentage of million-dollar homes is more than half the total number of homes in the area, while in other metro areas, like Cincinnati, less than 1% of the total number of homes are valued at $1 million or more.
- Using LendingTree's list, Business Insider rounded up the 25 largest metro areas that have the highest share of million-dollar homes.
- Visit Business Insider's homepage for more stories.
Some US markets are flooded with million-dollar homes while others hardly have any.
A recent study by online loan marketplace LendingTree found the share of million-dollar homes in the 50 largest US metro areas.
In the San Jose metro area, the percentage of million-dollar homes is more than half the total number of homes in the area, while in other metro areas, like Cincinnati, less than 1% of the total number of homes in the area are valued at $1 million or more.
To gather data for the study, LendingTree sourced from the US Census Bureau's 2018 American Community Survey with one-year estimates. To find the share of million-dollar homes in each metro area, LendingTree divided the number of homes valued at $1 million or more by the total number of homes in the area.
Keep reading for a list of the 25 metro areas with the highest share of million-dollar homes.
25. Providence, Rhode Island: The percentage of homes valued at or above $1 million in the Providence metro area is 1.9%
Number of homes valued at or above $1 million: 7,255
Median value of owner-occupied homes: $288,700
24. Jacksonville, Florida: The percentage of homes valued at or above $1 million in the Jacksonville metro area is 1.96%
Number of homes valued at or above $1 million: 7,144
Median value of owner-occupied homes: $217,200
T23. Salt Lake City, Utah: The percentage of homes valued at or above $1 million in the Salt Lake City metro area is 2%
Number of homes valued at or above $1 million: 5,419
Median value of owner-occupied homes: $329,200
T23. Orlando, Florida: The percentage of homes valued at or above $1 million in the Orlando metro area is 2%
Number of homes valued at or above $1 million: 10,715
Median value of owner-occupied homes: $242,500
21. Dallas, Texas: The percentage of homes valued at or above $1 million in the Dallas metro area is 2.11%
Number of homes valued at or above $1 million: 32,796
Median value of owner-occupied homes: $238,800
20. Riverside, California: The percentage of homes valued at or above $1 million in the Riverside metro area is 2.16%
Number of homes valued at or above $1 million: 19,074
Median value of owner-occupied homes: $360,300
19. Baltimore, Maryland: The percentage of homes valued at or above $1 million in the Baltimore metro area is 2.19%
Number of homes valued at or above $1 million: 15,416
Median value of owner-occupied homes: $308,500
18. Charlotte, North Carolina: The percentage of homes valued at or above $1 million in the Charlotte metro area is 2.2%
Number of homes valued at or above $1 million: 13,906
Median value of owner-occupied homes: $215,500
17. Houston, Texas: The percentage of homes valued at or above $1 million in the Houston metro area is 2.21%
Number of homes valued at or above $1 million: 31,426
Median value of owner-occupied homes: $204,700
16. Phoenix, Arizona: The percentage of homes valued at or above $1 million in the Phoenix metro area is 2.41%
Number of homes valued at or above $1 million: 26,695
Median value of owner-occupied homes: $267,000
15. Nashville, Tennessee: The percentage of homes valued at or above $1 million in the Nashville metro area is 2.58%
Number of homes valued at or above $1 million: 12,382
Median value of owner-occupied homes: $261,900
14. Portland, Oregon: The percentage of homes valued at or above $1 million in the Portland metro area is 2.61%
Number of homes valued at or above $1 million: 15,523
Median value of owner-occupied homes: $397,500
13. Chicago, Illinois: The percentage of homes valued at or above $1 million in the Chicago metro area is 2.67%
Number of homes valued at or above $1 million: 61,294
Median value of owner-occupied homes: $247,800
12. Sacramento, California: The percentage of homes valued at or above $1 million in the Sacramento metro area is 3.44%
Number of homes valued at or above $1 million: 17,426
Median value of owner-occupied homes: $415,700
11. Austin, Texas: The percentage of homes valued at or above $1 million in the Austin metro area is 3.73%
Number of homes valued at or above $1 million: 17,024
Median value of owner-occupied homes: $304,500
10. Denver, Colorado: The percentage of homes valued at or above $1 million in the Denver metro area is 3.95%
Number of homes valued at or above $1 million: 28,227
Median value of owner-occupied homes: $420,600
9. Miami, Florida: The percentage of homes valued at or above $1 million in the Miami metro area is 4.57%
Number of homes valued at or above $1 million: 58,661
Median value of owner-occupied homes: $298,800
8. Washington D.C.:The percentage of homes valued at or above $1 million in the Washington D.C. metro area is 7.08%
Number of homes valued at or above $1 million: 100,507
Median value of owner-occupied homes: $433,200
7. Boston, Massachusetts: The percentage of homes valued at or above $1 million in the Boston metro area is 8.57%
Number of homes valued at or above $1 million: 96,432
Median value of owner-occupied homes: $464,600
6. New York, New York: The percentage of homes valued at or above $1 million in the New York metro area is 10.44%
Number of homes valued at or above $1 million: 393,512
Median value of owner-occupied homes: $457,100
5. Seattle, Washington: The percentage of homes valued at or above $1 million in the Seattle metro area is 11.25%
Number of homes valued at or above $1 million: 102,598
Median value of owner-occupied homes: $487,400
4. San Diego, California: The percentage of homes valued at or above $1 million in the San Diego metro area is 14.12%
Number of homes valued at or above $1 million: 84,769
Median value of owner-occupied homes: $606,200
3. Los Angeles, California: The percentage of homes valued at or above $1 million in the Los Angeles metro area is 19.09%
Number of homes valued at or above $1 million: 400,562
Median value of owner-occupied homes: $650,300
2. San Francisco, California: The percentage of homes valued at or above $1 million in the San Francisco metro area is 42.39%
Number of homes valued at or above $1 million: 395,858
Median value of owner-occupied homes: $910,300
1. San Jose, California: The percentage of homes valued at or above $1 million in the San Jose metro area is 56.46%
Number of homes valued at or above $1 million: 208,745
Median value of owner-occupied homes: $1,091,100