The Dallas-Fort Worth market ranks 20th nationwide among the top-50 U.S. cities with the greatest share of homes valued at $1 million or more.
Considering the stereotypes of Texas wealth, maybe some of us expected … bigger.
But D/FW ranked third in LendingTree’s Census-powered analysis of owner-occupied houses valued at $1 million or more. Austin ranked 11th and Houston 16th.
In D/FW, the number of million-dollar homes stands at 1.94 percent of 1,519,504 units or 29,509. The median value of owner-occupied housing units stands is $215,700.
In comparison, Austin had 14,226 million-dollar abodes among 14,226 units. Houston had 32,167 among its 1,421,765 units.
“For most Americans, the idea of paying $1 million or more for a house may seem excessive, especially considering that the national median value of an owner-occupied home is less than a quarter of that amount,” the report says.
Still, million-dollar homes are relatively uncommon throughout most of the country. Only 4.27% of the owner-occupied homes in the nation’s 50 largest metros are valued at $1 million or more.
As expected, the top four metro areas with the largest share of million-dollar homes are in California. San Jose, buoyed by a high concentration of residents with wealth associated with the tech and entertainment industries ranks No. 1 with 47.29 percent of its home valued at $1 mil or more. San Francisco ranks second, Los Angeles third, and San Diego fourth.
