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" For most Americans, the concept of paying $1 million or more for a home might appear extreme, particularly considering that the national median worth of an owner-occupied home is less than a quarter of that amount," Financing, Tree kept in mind. "However, million-dollar houses are rather common in some parts of the country.

16 amongst the country's 50 largest city locations in regards to the portion of all owner-occupied homes. Austin leads Texas with 3. 52 percent of million-dollar houses, which is most likely the very first time the Capital City has ever gone beyond Houston. It stands at No. 11 on the list. The not-as-important-as-Houston cities of Dallas-Fort Worth and San Antonio were ranked 20th and 34th, respectively.

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Los Angeles, New York City and Miami city areas remain in the top 10 of owner-occupied million dollar houses. (i, Stock) Where are all the million dollar houses? Spoiler alert: Wherever more people can manage them. Few house owners live in homes valued at a million dollars or more in the U.S., but in some cities, it's more common than you believe, according to a report from Loaning, Tree.

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3 percent of owner-occupied homes in the nation's 50 biggest cities are valued at $1 million or more, according to the report, which analyzed census data. Take  homes for sale in california  detailed look, and it's clear that million dollar plus houses are focused in a few locations, with greater earnings and a higher concentration of rich home purchasers.

3 percent of owner-occupied homes in San Jose are valued at or above $1 million, compared to 36. 3 percent of homes in San Francisco, 17 percent of homes in Los Angeles and 12. 2 percent in San Diego. The median price for an owner-occupied house in San Jose is $968,800; in San Francisco, it's $840,600; and in Los Angeles, it's $613,400.

Their executives are the ones who can manage expensive houses, said Jacob Channel, research study analyst at Loaning, Tree. The variety of million dollar owner-occupied homes could be even higher post-pandemic, especially in big cities like New York, San Francisco and Los Angeles, Channel included. "Since the real estate market has been so wild recently, a great deal of wealthier families in specific weren't as adversely affected by the pandemic, so they had the ability to benefit from actually low rates," Channel stated.