The U.S. is About to Add Even More Cities with a Median Home Value of $1 Million

The U.S. is About to Add Even More Cities with a Median Home Value of $1 Million

Real Estate
September 20, 2018 • 6 min read by James Conners   A recent Zillow report found that the average home costs around $1 million in 197 different cities. In 2018 alone, 23 cities have been added to the millionaire’s club. This reflects an ongoing trend in the U.S: homes are simply getting more expensive. Unsurprisingly, most of these million dollar homes reside in wealthy suburbs of popular cities. However, there are a few outliers that indicate home value growth is becoming a universal trend. Joining the list this year are cities like Sullivan’s Island, South Carolina, Biltmore Forest, North Carolina, and Anna Maria, Florida. The numbers keep climbing. Estimates show that the number of cities in which half of homes are valued over $1 million will reach an all-time high over the next year.…
Read More