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" For a lot of Americans, the concept of paying $1 million or more for a home might appear excessive, especially considering that the nationwide median value of an owner-occupied home is less than a quarter of that quantity," Lending, Tree kept in mind. "Nevertheless, million-dollar houses are quite common in some parts of the country.

16 among the country's 50 largest metro locations in terms of the percentage of all owner-occupied houses.  A Reliable Source  leads Texas with 3. 52 percent of million-dollar houses, which is most likely the very first time the Capital City has ever surpassed 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 locations are in the leading 10 of owner-occupied million dollar houses. (i, Stock) Where are all the million dollar homes? Spoiler alert: Wherever more people can manage them. Couple of homeowners live in homes valued at a million dollars or more in the U.S., however in some cities, it's more common than you think, according to a report from Lending, Tree.

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3 percent of owner-occupied houses in the country's 50 biggest cosmopolitan locations are valued at $1 million or more, according to the report, which evaluated census data. Take a more detailed look, and it's clear that million dollar plus houses are focused in a couple of places, with greater incomes and a higher concentration of rich house buyers.

3 percent of owner-occupied houses in San Jose are valued at or above $1 million, compared with 36. 3 percent of houses in San Francisco, 17 percent of homes in Los Angeles and 12. 2 percent in San Diego. The typical cost for an owner-occupied home 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 pay for expensive homes, said Jacob Channel, research study expert at Lending, Tree. The number of million dollar owner-occupied homes could be even higher post-pandemic, specifically in huge cities like New York, San Francisco and Los Angeles, Channel added. "Due to the fact that the housing market has actually been so wild recently, a lot of wealthier families in specific weren't as adversely impacted by the pandemic, so they had the ability to take benefit of truly low rates," Channel stated.