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.
- Home prices in the United States are still rising, pushing more and more cities into $1 million territory.
- 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.
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.
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: $978,900
Projected median home value, June 2019: $1,005,018
Newark, California
Metro: San Francisco
Median home value, June 2018: $919,200
Projected median home value, June 2019: $1,005,404
Sammamish, Washington
Metro: Seattle
Median home value, June 2018: $945,000
Projected median home value, June 2019: $1,006,068
Anna Maria, Florida
Metro: North Port-Sarasota-Bradenton
Median home value, June 2018: $964,200
Projected median home value, June 2019: $1,009,404
Lexington, Massachusetts
Metro: Boston
Median home value, June 2018: $975,500
Projected median home value, June 2019: $1,013,900
Brisbane, California
Metro: San Francisco
Median home value, June 2018: $958,200
Projected median home value, June 2019: $1,022,569
Bellevue, Washington
Metro: Seattle
Median home value, June 2018: $948,100
Projected median home value, June 2019: $1,022,917
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
Metro: New York
Median home value, June 2018: $993,400
Projected median home value, June 2019: $1,027,625
Woodbury, New York
Metro: New York
Median home value, June 2018: $965,800
Projected median home value, June 2019: $1,029,055
Dana Point, California
Metro: Los Angeles-Long Beach-Anaheim
Median home value, June 2018: $936,700
Projected median home value, June 2019: $1,030,556
Belmont, Massachusetts
Metro: Boston
Median home value, June 2018: $984,900
Projected median home value, June 2019: $1,035,244
Fairfax, California
Metro: San Francisco
Median home value, June 2018: $893,700
Projected median home value, June 2019: $1,043,621
Seal Beach, California
Metro: Los Angeles-Long Beach-Anaheim
Median home value, June 2018: $964,900
Projected median home value, June 2019: $1,044,530
San Clemente, California
Metro: Los Angeles-Long Beach-Anaheim
Median home value, June 2018: $953,400
Projected median home value, June 2019: $1,052,136
La Habra Heights, California
Metro: Los Angeles
Median home value, June 2018: $982,300
Projected median home value, June 2019: $1,059,783
Alameda, California
Metro: San Francisco
Median home value, June 2018: $996,000
Projected median home value, June 2019: $1,069,036
Daly City, California
Metro: San Francisco
Median home value, June 2018: $986,200
Projected median home value, June 2019: $1,081,408
Broadmoor Village, California
Metro: San Francisco
Median home value, June 2018: $984,300
Projected median home value, June 2019: $1,083,404
Los Alamitos, California
Metro: Los Angeles-Long Beach-Anaheim
Median home value, June 2018: $988,300
Projected median home value, June 2019: $1,086,400
East Palo Alto, California
Metro: San Francisco
Median home value, June 2018: $963,900
Projected median home value, June 2019: $1,090,864
Morgan Hill, California
Metro: San Jose
Median home value, June 2018: $984,800
Projected median home value, June 2019: $1,107,926
Burbank, California
Metro: San Jose
Median home value, June 2018: $999,500
Projected median home value, June 2019: $1,182,061