11 States With the Most $1 Million Homes

In the last year, high mortgage rates, low home stock and inflation have contributed to an increase in the cost of homes.

There are currently 550 cities in the United States where the “typical” home is valued at $1 million or greater, per an analysis from Zillow. Of those 550 cities, 210 are in California.

Redfin reported in 2023 that 8.2% of houses across the U.S. had million-dollar valuations.

These are the 11 states with the most $1 million cities in 2024, ranked from most to least.

• Number of $1 million cities: 210
• Percentage of homes valued at $1 million or more: 23.1%

San Francisco, San Jose, Anaheim, Oakland, San Diego and Los Angeles all have substantial percentages of $1 million homes. According to Visual Capitalist, in 2023, 81% of homes in San Francisco were worth $1 million or more.

• Number of $1 million cities: 66
• Percentage of homes valued at $1 million or more: 9.1%

Sagaponack, Water Mill, Bridgehampton, New York and Amagansett are the most expensive cities in the state.

• Number of $1 million cities: 49
• Percentage of homes valued at $1 million or more: 4.6%

The most expensive cities in New Jersey are Hoboken, Jackson, Jersey City, Lakewood and Brick.

• Number of $1 million cities: 32
• Percentage of homes valued at $1 million or more: 3.5%

Florida’s most expensive cities are Fort Lauderdale, Miami, Cape Coral, Fort Myers and Sarasota.

• Number of $1 million cities: 31
• Percentage of homes valued at $1 million or more: 9.0%

Boston, Cambridge, Newton and Vineyard Haven are all residential areas where many of the million-dollar homes can be found.

• Number of $1 million cities: 21
• Percentage of homes valued at $1 million or more: 7.4%

Cherry Hills Village, Aspen, Mountain Village, Bow Mar and Edwards are some of Colorado’s most expensive locations.

• Number of $1 million cities: 17
• Percentage of homes valued at $1 million or more: 22.9%

Hawaii’s most expensive places are Hanalei, Puako, Haleiwa, Kailua and Laie.

• Number of $1 million cities: 14
• Percentage of homes valued at $1 million or more: 2.5%

You’ll find the wealthiest homes in Lubbock, Corpus Christi, Fort Worth, San Antonio and El Paso.

• Number of $1 million cities: 10
• Percentage of homes valued at $1 million or more: 4.4%

Maryland’s wealthiest homes are found in Chevy Chase, Potomac, Cabin John, Bethesda and Royal Oak.

• Number of $1 million cities: 7
• Percentage of homes valued at $1 million or more: 4.5%

Great Falls, McLean, Upperville, Waterford and Dunn Loring are home to some of the most expensive homes in the state.

• Number of $1 million cities: 6
• Percentage of homes valued at $1 million or more: 2.1%

Charleston, Hilton Head Island, Bluffton and Gastonia are South Carolina’s most expensive locations.

If you’re looking for a state not known for an abundance of million-dollar homes, you can focus on Georgia, Kansas, Maine, Michigan, Rhode Island, Wisconsin and Delaware. Zillow determined these states to have only a single $1 million city each.