The luxe life

Dallas unlocks No. 12 ranking among U.S. cities with most million-dollar homes

4255 Cochran Chapel Rd., Dallas, home for sale, million-dollar home

This majestic estate at 4255 Cochran Chapel Rd., Dallas, is on the market for $7,995,000.

Photo courtesy of Estately.com

With median home prices sitting at $412,000, it takes quite the leap for the average Dallas home to be considered a luxury listing. And yet there are many; 22 percent of all real estate listings in Dallas are homes worth over $1 million, according to a new study.

The report, by online real estate marketplace experts Point2, ranks Dallas No. 12 nationwide among U.S. cities with the highest shares of luxury homes. Dallas ranks second in Texas, behind Austin.

In Point2's 2021 report, Dallas ranked No. 13 with only 13.9 percent of real estate listings with a price tag for more than $1 million. These new findings confirm that Dallas is on the rise as one of the best housing markets for growth, while also opening up possibilities for redefining what the term "luxury" means for real estate in 2023.

"Once used to describe famous estates recognizable by name alone or opulent residences redefining the apartment concept, luxury may now be reduced to a convenient location and cushy amenities," the report says. "Its meaning varies even further when analyzing different-sized markets across the United States, beyond the well-known house-hunting grounds of affluent home seekers."

Austin ranked No. 10 nationally with 24.7 percent of all active real estate listings for sale for over $1 million. No other Texas cities made the top 15.

The study looked at all available real estate for sale in the 30 largest, mid-size, and smallest cities in the United States, and categorized the listings by their $1-million-plus price tags.

In the category for the smallest U.S. cities, Grapevine ranked No. 13 with 13 percent of all real estate listings for sale worth over $1 million.

The largest cities also were analyzed for active real estate listings worth over $5 million.

The study admits that luxury homes worth over $5 million are the true indicator of what "real luxury" looks like specifically for the largest American cities. In Dallas, only 1.8 percent of real estate listings fit that criteria, earning the city No. 8. Austin, with 1.5 percent, land just behind Dallas, at No. 9.

The top 10 largest cities in the U.S. with the highest shares of luxury real estate listings worth over $5 million are:

No. 1 – Los Angeles, California (11.6 percent)
No. 2 – Boston, Massachusetts (9.4 percent)
No. 3 – San Diego, California (7.6 percent)
No. 4 – New York City, New York (7.4 percent)
No. 5 – San Francisco, California (7.1 percent)
No. 6 – Washington, D.C. (2.1 percent)
No. 7 – Seattle, Washington (2.0 percent)
No. 8 – Dallas, Texas (1.8 percent)
No. 9 – Austin, Texas (1.5 percent)
No. 10 – San Jose, California (1.1 percent)

The full report and its methodology can be found on point2homes.com.

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Dallas Got Robbed

The richest small town in Texas is surprisingly not in Dallas

Facebook / City of Bellaire, Texas

Houston neighbor Bellaire is the richest town in Texas.

A survey of affluent small towns has found one town in Texas to be at the top of the list, but shockingly, it is not in Dallas. The town of Bellaire, a small enclave within the Houston metro area, has earned the top spot as the richest small town in Texas for 2025. Boo.

The report, "The Richest Small Town in Every State," from GoBankingRates, selected one city from each state, using data from the U.S. Census Bureau's American Community Survey to determine the 50 richest small towns based on their median household income.

Describing Bellaire as a "small town" might be a misnomer. It's located less than 10 miles from downtown Houston and is fully surrounded by the City of Houston. It's really more of a wealthy enclave within Houston, with a population of just over 17,000 residents.

Those affluent citizens earn a median $236,311 in income every year, which GoBankingRates says is the 11th highest household median income out of all 50 cities included in the report.

The average home in this city is worth over $1.12 million, but Bellaire's lavish residential reputation often attracts properties with multi-million-dollar price tags.

Bellaire also earned a shining 81 livability score for its top quality schools, health and safety, commute times, with an abundance of exceptional local amenities.

Those include conveniently located grocery stores, coffee shops, diverse dining options, and spacious parks.

It's not the first time that Bellaire has caught the eye of GoBankingRates, which previously ranked it as the No. 23 wealthiest suburb in America, and it's been named on similar lists comparing the richest American cities.

Dallas can take comfort in the fact that a different survey found Lewisville to be of the cities attracting the most high-income households, meaning those that make more than $200,000. However, census data places the most recent median income in Lewisville at $85,002 — so it's nowhere close to catching up to Bellaire.

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