Best Metro Areas to Buy a Luxury Home Under $1M Right Now
Posted by Michael Perna on
Buying a luxury home usually means spending well into the millions – especially in coastal hot spots. But did you know there are still a handful of U.S. metro areas where high-end living comes with a six-figure price tag instead of seven? It’s true: in a market where the national median luxury home price is about $1.35 million, a select few cities offer “luxury for less”. These places – many of them in the Midwest – let buyers snag historic mansions, spacious estates, or upscale condos for under $1 million. Just five years ago, such deals were common in 30 big metros, but as of 2025 only seven major cities remain in that category.
What are these rare affordable luxe locales? Think Rust Belt charm and Sunbelt warmth. As one real estate economist notes,…
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