Half of the properties in San Jose are worth over $ 1 million. SF follows in the rankings.

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The American Dream may or may not be that crisp white fence surrounding a lush green lawn and a large tree supporting a wooden swing. With our current mega-droughtOf course, most of the grass is turning brown now, and for those who live in San Francisco, the dream of their own home with a backyard may be more of a fantasy anyway. Those who strive buy property in Marina, find your perfect home in Auckland, or settle in San Jose Real Estate I often have the opportunity to find such open spaces, but it comes at a price. Aesthetics aside, the cost can be prohibitive for those without a significant annual salary. Sorry San Francisco and San Jose the two main metro areas with the largest share of million dollar homes, says a new LendingTree report.

Million dollar homes are relatively rare across much of the country. Only 4.27% of owner-occupied homes in the country’s 50 largest metros are valued at $ 1 million or more. Fortunately for us non-millionaires (statistics show that there were 5.32 million people in the United States with financial assets of at least $ 1 million. 2018) not all homes cost that much, but for the few looking to buy property, San Francisco and San Jose are the best of the best.



For those familiar with Bay Area real estate, it should come as no surprise that San Jose actually surpasses San Francisco, ranking first for the number of owner-occupied single-family homes valued at over $ 1 million – in no small measure thanks to its proximity to Silicon Valley and its relative distance from the hustle and bustle of city life. In total, San Jose has about 373,000 single-family housing units, and the number of properties worth at least $ 1 million is about 176,243, or about 47.29%. The average cost of owner-occupied dwellings is $ 968,800.

San Francisco ranks second on the list. The total number of housing units in Bay City is approximately 931,032. The number of units valued at $ 1 million or more is 337,480, so the percentage of units in this $ 1 million range is 36.25%. Today, the average cost of owner-occupied housing units in San Francisco is $ 840,600.

California’s other two metropolitan areas round out the top four: Los Angeles is third behind San Francisco, with 17% of its homes worth at least $ 1 million, followed by San Diego at 12.2%, according to LendingTree analysis. LendingTree economic analysts expect the percentage of million dollar homes in these areas to increase further in 2021. LendingTree used census data to determine the proportion of million-dollar homes in the country’s 50 largest metropolitan areas.

The state of sunshine after a tough year of COVID restrictions and ongoing fires still reigns supreme in the housing market. Of the 10 subways with the highest percentage of $ 1 million homes, the four with the highest percentage of $ 1 million homes are in California. Due to the high concentration of wealth originating from the tech and entertainment industries, an average of 28.19% of homes in San Jose, San Francisco, Los Angeles, and San Diego are valued at at least $ 1 million.

This article was written by Mitchell Durand. Advertising content.

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