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California has the top three cities with properties over $1 million.
- Million-dollar homes are most likely to be found on the East or West coasts of America.
- LendingTree collected real estate data from more than 155 million properties across the United States to calculate which cities have the highest concentration of homes worth $1 million and up.
- Four cities in California have more than 10% of homes valued over $1 million.
America's coasts are bursting with million-dollar homes.
To pinpoint exactly where million-dollar homes are located - and how close they are to each other - LendingTree collected real estate data for more than 155 million properties in the United States. The home values are based on public taxes, deeds, mortgages, foreclosure data, and proprietary local data.
LendingTree then calculated the concentration of million-dollar homes in each city by dividing the number of homes valued at $1 million or higher by the total number of homes in the statistical area, according to the report.
The data shows that expensive properties are more likely to be on the coasts than inland America with the exception of Denver, Colorado. California is home to the top three spots with the most million-dollar homes, thanks in part to the high concentration of startups and tech giants in the area. Four cities in California have more than 10% of homes valued over $1 million, and San Jose is the only place where the median home value (among all homes) is above $1 million.
Below, check out which US cities have the highest share of million-dollar homes in America.