The Cost of Luxury Homes in Every State

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With the rising housing prices, some people wonder whether buying a luxury home is worth it. Luxury homes are personal financial decisions, but if you’re looking at it as an investment and not just a home, then consider comparing the costs across the U.S. According to J.P. Morgan Private Bank, changing mortgage rates do not impact the luxury housing market, but changes in the net worth of individuals have a high impact on luxury home values.

GOBankingRates compiled data from across the U.S. to look at the wide range of prices for luxury homes. Here are the values of “top-tier” homes in every state, arranged from the highest to the lowest cost.

California

“Top tier” home value: $1,452,034

Hawaii

“Top tier” home value: $1,364,964

Washington, D.C.

“Top tier” home value: $1,126,696

Massachusetts

“Top tier” home value: $1,032,394

Washington

“Top tier” home value: $1,012,395

New York

“Top tier” home value: $885,815

Colorado

“Top tier” home value: $877,387

New Jersey

“Top tier” home value: $857,039

Montana

“Top tier” home value: $773,927

Utah

“Top tier” home value: $767,216

Oregon

“Top tier” home value: $738,156

Rhode Island

“Top tier” home value: $736,454

Idaho

“Top tier” home value: $716,424

Virginia

“Top tier” home value: $714,202

New Hampshire

“Top tier” home value: $706,029

Florida

“Top tier” home value: $697,388

Arizona

“Top tier” home value: $688,733

Connecticut

“Top tier” home value: $685,716

Maryland

“Top tier” home value: $677,712

Maine

“Top tier” home value: $666,251

Nevada

“Top tier” home value: $640,713

Vermont

“Top tier” home value: $616,770

Wyoming

“Top tier” home value: $610,479

Delaware

“Top tier” home value: $595,970

North Carolina

“Top tier” home value: $572,983

Georgia

“Top tier” home value: $553,721

Tennessee

“Top tier” home value: $545,569

Texas

“Top tier” home value: $530,312

South Carolina

“Top tier” home value: $524,346

Alaska

“Top tier” home value: $519,089

Minnesota

“Top tier” home value: $518,141

South Dakota

“Top tier” home value: $506,695

New Mexico

“Top tier” home value: $481,172

Wisconsin

“Top tier” home value: $476,567

Pennsylvania

“Top tier” home value: $471,408

Illinois

“Top tier” home value: $459,024

Nebraska

“Top tier” home value: $434,355

Michigan

“Top tier” home value: $419,767

Kansas

“Top tier” home value: $417,594

Missouri

“Top tier” home value: $417,288

North Dakota

“Top tier” home value: $404,960

Alabama

“Top tier” home value: $404,176

Ohio

“Top tier” home value: $399,255

Indiana

“Top tier” home value: $396,806

Iowa

“Top tier” home value: $381,416

Arkansas

“Top tier” home value: $361,061

Kentucky

“Top tier” home value: $348,434

Oklahoma

“Top tier” home value: $347,448

Louisiana

“Top tier” home value: $333,978

Mississippi

“Top tier” home value: $314,217

West Virginia

“Top tier” home value: $298,732

Methodology: These are the “top tier” home values in every state as of May 2024. Top Tier is defined by Zillows as “typical value for homes within the 65th to 95th percentile range for a given range.“

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