loading...

The U.S. Has A Record Number of Million-Dollar Cities

  • April 2nd

by UrbanTurf Staff

A new report provides a good sense of how many seven-figure cities there are around the country. 

Zillow recently reported that there are a record 550 "million-dollar" cities in the U.S. currently; these are cities where the typical home is worth more than $1 million. This is an increase of nearly 60 cities compared to last year, and up from 312 cities in 2021.

zillow-million.jpg

"Affordability is still a big challenge for buyers, but that hasn’t stopped home values from climbing," the report stated. "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."

California accounts for 200 cities on the million-dollar list, more than the next 5 states combined. The DC metro area contains 14 million-dollar cities, two more than last year. 

This article originally published at https://dc.urbanturf.com/articles/blog/the_us_has_a_record_number_of_million-dollar_cities/22147.

DC Real Estate Guides

Short guides to navigating the DC-area real estate market

We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!