- Nearly 200 cities currently have a median home value of at least $1 million, and another 23 cities are projected to join the seven-figure club by summer 2019.
- California is home to the most million-dollar real estate markets; it has 111 currently, and is expected to add 14 more cities over the next year.
ADVERTISEMENT
The US has more million-dollar real estate markets than ever — here are 23 cities where the typical home will be $1 million by next year
Home prices in the United States are continuing to rise, pushing more and more cities into $1 million territory. Nearly 200 cities currently have a median home value of at least $1 million, and 23 cities are projected to join the seven-figure club by summer 2019.
ADVERTISEMENT
Nearly two dozen real estate markets are fast-approaching million-dollar territory, according to a recent report from Zillow.
Zillow's data reveals that by June 2019, 23 cities will have median home values of at least $1 million, joining the 197 US cities where the typical home is already valued at seven-figures. (In these cities, half the homes are valued below $1 million and half are valued above.)
California and New York are currently home to the most million-dollar real estate markets. The Golden State has a significant edge, with 111 cities that have a median home value of $1 million or more as of June 2018. The San Francisco metro area has 46 $1 million cities — the most of any metro in the country. New York state has 30 cities.
ADVERTISEMENT
Of the 23 new cities to join the million-dollar club by next summer, 14 are in California — all in the San Francisco and Los Angeles metro areas — and three are in New York. And three cities that had a $1 million median home value before the housing bust in 2006 are set to regain their status by 2019.
Keep reading to find out which cities will soon cross the $1 million mark.
Biltmore Forest, North Carolina
Metro: Asheville
Median home value, June 2018:
ADVERTISEMENT
Projected median home value, June 2019:
Newark, California
Metro: San Francisco
Median home value, June 2018:
Projected median home value, June 2019:
ADVERTISEMENT
Sammamish, Washington
Metro: Seattle
Median home value, June 2018: $945,000
Projected median home value, June 2019:
Anna Maria, Florida
ADVERTISEMENT
Metro:
Median home value, June 2018:
Projected median home value, June 2019:
Lexington, Massachusetts
Metro: Boston
ADVERTISEMENT
Median home value, June 2018:
Projected median home value, June 2019:
Brisbane, California
Metro: San Francisco
Median home value, June 2018:
ADVERTISEMENT
Projected median home value, June 2019:
Bellevue, Washington
Metro: Seattle
Median home value, June 2018:
Projected median home value, June 2019:
ADVERTISEMENT
Roslyn, New York
Metro: New York
Median home value, June 2018: $964,500
Projected median home value, June 2019: $1,026,293
Franklin Lakes, New Jersey
ADVERTISEMENT
Metro: New York
Median home value, June 2018:
Projected median home value, June 2019:
Woodbury, New York
Metro: New York
ADVERTISEMENT
Median home value, June 2018:
Projected median home value, June 2019:
Dana Point, California
Metro: Los Angeles-Long Beach-Anaheim
Median home value, June 2018:
ADVERTISEMENT
Projected median home value, June 2019:
Belmont, Massachusetts
Metro: Boston
Median home value, June 2018:
Projected median home value, June 2019:
ADVERTISEMENT
Fairfax, California
Metro: San Francisco
Median home value, June 2018:
Projected median home value, June 2019:
Seal Beach, California
ADVERTISEMENT
Metro: Los Angeles-Long Beach-Anaheim
Median home value, June 2018:
Projected median home value, June 2019:
San Clemente, California
Metro: Los Angeles-Long Beach-Anaheim
ADVERTISEMENT
Median home value, June 2018:
Projected median home value, June 2019:
La Habra Heights, California
Metro: Los Angeles
Median home value, June 2018:
ADVERTISEMENT
Projected median home value, June 2019:
Alameda, California
Metro: San Francisco
Median home value, June 2018:
Projected median home value, June 2019:
ADVERTISEMENT
Daly City, California
Metro: San Francisco
Median home value, June 2018:
Projected median home value, June 2019:
Broadmoor Village, California
ADVERTISEMENT
Metro: San Francisco
Median home value, June 2018: $984,300
Projected median home value, June 2019:
Los Alamitos, California
Metro: Los Angeles-Long Beach-Anaheim
ADVERTISEMENT
Median home value, June 2018:
Projected median home value, June 2019:
East Palo Alto, California
Metro: San Francisco
Median home value, June 2018:
ADVERTISEMENT
Projected median home value, June 2019:
Morgan Hill, California
Metro: San Jose
Median home value, June 2018:
Projected median home value, June 2019:
ADVERTISEMENT
Burbank, California
Metro: San Jose
Median home value, June 2018:
Projected median home value, June 2019:
FOLLOW BUSINESS INSIDER AFRICA
ADVERTISEMENT
Recommended articles
Kenyan government rejects calls to ban TikTok, recommends tighter control over
Congo accuses Apple of conflict minerals in its supply chain
Top 10 African countries with the highest fuel prices in April 2024
The gold trade in Uganda makes a huge comeback
Best live dealer casino: Top USA live casinos online
Best real money online casinos USA: Top 10 casino sites in 2024
OPEC excited about partnership with Namibia
The US loses to Russia and China in popularity across Africa