The median home price in Dallas hasn’t yet reached $400,000, but the area has a decent number of homes valued at $1 million or more as well.
A study from LendingTree shows 2.2% of owner-occupied homes in the Dallas area are valued at $1 million or more (34,376 of 1,561,136 homes in the area).
The LendingTree study looked at the number of $1 million-plus homes in the 50 largest cities in the country, with Dallas ranked 20.
Comparatively, in the city ranked first, San Jose, California, 52.89% of owner-occupied homes are valued at $1 million plus.
In Texas, Austin ranks highest at No. 12 with 3.51% of homes valued at $1 million or more, and Houston ranks slightly above Dallas at 17, and 2.4% of homes valued at $1 million or more.
“Though home prices have risen significantly over the past two years, paying $1 million or more for a house may still seem excessive to most Americans. However, just because million-dollar homes aren’t common throughout the U.S. doesn’t mean they aren’t prevalent in some areas,” the LendingTree study says.
Per the study, an average of 4.71% of owner-occupied homes in the country’s 50 largest cities were valued at $1 million or more.
For more information, read the LendingTree study here.