5 Major US Metros Where You Can Still Buy a Luxury Home Under $1M

The era of the six-figure luxury home is in its twilight.

A new Redfin study found that the typical posh property costs $1 million or more in all but five remaining major U.S. metros. That’s down from eight in 2025, with Indianapolis, St. Louis, and Columbus, Ohio, falling off the list.

For context, 30 markets still boasted average luxury homes with single-comma asking prices in 2020, but in 2026, $1 million is no longer the zenith. It’s the entry level.

This article reveals where well-heeled buyers can still score a luxury home with a six-figure price tag, but hurry up if you’re a serious buyer — the price of residential exclusivity is rising quickly.

What Is a Luxury Home?

Luxury is a subjective term with vague parameters that extend beyond the sale price, which is always relative to the location. For example, $1 million in a modestly priced market can buy the hottest house in town, but in some big coastal cities, it’s not enough to get a realtor to return your calls.

In 2022, when six-figure luxury markets began rapidly evaporating nationwide, Realtor.com wrote that the primary ingredients are homes that are:

• Expensive for the area

• In a highly desirable location

• Rich in high-end amenities

• Steeped in history

• Constructed from premium materials

• Secluded or private

The Final 5: Where Grandeur Still Sells for 6 Figures

The Redfin study found just five major metros with median luxury sale prices under $1 million.

1. Detroit: $719,252

2. Cleveland: $833,228

3. Pittsburgh: $904,202

4. Cincinnati: $952,523

5. San Antonio: $968,344

Without a substantial change in price trajectory, this list could easily shrink to just two or three markets in the near future. The year-over-year median sale price in San Antonio — already knocking on the two-comma club’s door — rose by 5.1% from 2025. It increased by 6.1% in Pittsburgh and leaped by 11% in Cleveland.

If $1M Sounds Pricey, Don’t Even Think About the Top 5

At the other end of the spectrum are the five most expensive markets for luxury properties in the United States, where $4 million isn’t enough to land in the middle of the pack, even in the cheapest metro of the bunch.

1. San Francisco: $6,648,922

2. Anaheim, California: $5,276,971

3. Miami: $4,855,331

4. Los Angeles: $4,512,482

5. West Palm Beach, Florida: $4,510,196

This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.