Dallasites are well aware of our booming real estate market, with highly coveted properties skyrocketing to seven-figure asking prices. So it should come as little surprise to local shoppers that Dallas ranks prominently on a new list of cities with the most $1 million homes.
A new study released by Lending Tree ranks the top 50 cities in the U.S. with homes valued at $1 million or more. The rankings are based on the My LendingTree property value database, a collection of real estate data for more than 155 million U.S. properties, and Dallas appears alongside three other pricey Texas markets.
Dallas comes in at No. 18 in the nation, with a 1.31 percent share of million-dollar homes. While the median value of all homes in Dallas is an affordable $213,000, the median value of homes over $1 million clocks in at $1,395,500.
Austin, with a 2.16 percent share of million-dollar homes, ranks No. 1 in the state and No. 11 in the U.S. The median value of all homes in Austin is $282,000, with the median value of homes over $1 million at $1,310,000. Houston is No. 14 on the list, with a 1.52 percent share of million-dollar homes, which boast a median value of $1,401,000, the highest in Texas.
San Antonio appears at No. 39, with a 0.41 percent share of million-dollar homes. The median value of all homes in San Antonio is $191,000, with the median value of homes over $1 million is $1,319,000.
California tops the Lending Tree list, with San Jose, San Francisco, and Los Angeles coming in at first, second, and third, respectively. San Jose boasts a staggering 53.81 percent share of million-dollar homes, and the median value of all homes in that metro tops the $1 million mark, at $1,069,000.