While, the median home price in Houston has recently hit around $400,000, the city boasts a healthy amount of homes valued at $1 million or more.
A new study from personal finance platform LendingTree shows 2.4 percent of Houston homes are worth $1 million or more. (That’s actually down from No. 11 in 2021). Houston ranks No. 17 among the 50 U.S. metros in the study.
Elsewhere in Texas, Austin leads all state metros (and No. 12 nationally) with 3.51 percent of owner-occupied homes in the area are valued at $1 million or more. That compares with an eye-popping 52.89 percent share in the No. 1 metro on the list, San Jose, California.
“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,” LendingTree says.
The website notes that an average of 4.71 percent of owner-occupied homes in the 50 largest metros are valued at $1 million or more.