New study reveals San Antonio's share of million-dollar homes
With the median home price in the San Antonio metro area closing in on $350,000, it’s no shocker that many homes would be valued at $1 million or more.
In fact, 1.26 percent of San Antonio homes are valued at $1 million or more, landing Alamo City at No. 36 among the country's 50 largest metros for its share of million-dollar homes — according to a new study.
Conducted by personal finance platform LendingTree, the study analyzed the number of $1 million-plus homes in the country’s 50 largest metro areas.
In not at all surprising news, Austin claimed the highest share of $1 million-plus homes among Texas’ major metros, coming in at No. 12 nationally. More than 3.5 percent of owner-occupied homes in the Austin area are valued at $1 million or more, compared with an eye-popping 52.89 percent share in the No. 1 metro on the national list, San Jose, California.
Elsewhere in Texas, Houston ranked No. 17 in the country (2.4 percent), while Dallas came in at No. 20 (2.2 percent).
“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.