‘Million Dollar Cities’ on the Rise as Home Prices Climb

Home for Sale
by Brett Rowland


More cities have hit the $1 million mark amid rising home prices, especially in California.

A year ago, real estate marketplace Zillow found 491 cities where the typical home value was $1 million or more. That number grew to 550 cities this year, according to Zillow.

California was home to 210 million-dollar cities, more than the next five states combined. California was followed by New York (66 cities), New Jersey (49), and Florida (32).

The real estate company said in a statement, “The good news for buyers in the market this home shopping season is that new listings are on the rise as the effects of “rate lock” are weakening. If mortgage rates drop later this year, as many expect, that may mean a second wave of buyer demand that drives prices higher.”

Million-Dollar Cities by State

State $1 Million Cities: February 2024 $1 Million Cities: February 2023
California 210 198
New York 66 54
New Jersey 49 35
Florida 32 34
Massachusetts 31 27
Colorado 21 21
Washington 18 16
Hawaii 17 16
Texas 14 15
Maryland 10 8
Virginia 7 5
South Carolina 6 6
Connecticut 6 5
Minnesota, Utah 6 4
Illinois 6 3
Missouri 5 5
Nevada, North Carolina, Wyoming 4 4
Montana 4 3
Arizona 4 2
Idaho, Tennessee 3 3
New Hampshire 3 2
Ohio 2 2
Pennsylvania 2 0
Delaware 1 2
Georgia, Kansas, Maine, Michigan, Rhode Island, Wisconsin 1 1

“Affordability is still a big challenge for buyers, but that hasn’t stopped home values from climbing,” Zillow added. “The housing market is tight with few homes available, and competition is still high for attractive homes. That competitive pressure is pushing home values higher across the U.S.”

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Brett Rowland is an award-winning journalist who has worked as an editor and reporter in newsrooms in Illinois and Wisconsin. He is an investigative reporter for The Center Square.





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