In some real estate markets, $1 million and even $2 million homes are already the norm. San Jose, California, recently became the first market where the median single-family home price surpassed $2 million, and San Francisco is projected to be the next city to reach this landmark.
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You might expect these mile-high prices from California cities, but there are other places throughout the United States where the cost of the median single-family home is projected to reach seven figures in the not-so-distant future.
To find the cities where the typical single-family home is projected to cost $1 million by 2030, Zoocasa analyzed the annual average increase in median single-family home prices from 2014 to 2024 across 40 metropolitan areas and used this growth rate to predict when median home prices will surpass the $1 million mark.
Here’s a look at the cities where $1 million homes will be the norm by 2030.
Boulder, Colorado
- Median home price (2024): $888,300
- Year the median home price will reach $1M: 2026
- Median home price (2026): $1,024,633
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Naples, Florida
- Median home price (2024): $867,000
- Year the median home price will reach $1M: 2026
- Median home price (2026): $1,039,554
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Seattle
- Median home price (2024): $829,600
- Year the median home price will reach $1M: 2027
- Median home price (2027): $1,071,402
Los Angeles
- Median home price (2024): $854,800
- Year the median home price will reach $1M: 2027
- Median home price (2027): $1,067,854
Boston
- Median home price (2024): $848,938
- Year the median home price will reach $1M: 2027
- Median home price (2027): $1,039,985
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Barnstable Town, Massachusetts
- Median home price (2024): $775,900
- Year the median home price will reach $1M: 2028
- Median home price (2028): $1,071,329
Bridgeport, Connecticut
- Median home price (2024): $792,800
- Year the median home price will reach $1M: 2028
- Median home price (2028): $1,016,085
Reno, Nevada
- Median home price (2024): $620,400
- Year the median home price will reach $1M: 2029
- Median home price (2029): $1,008,275
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Miami
- Median home price (2024): $646,000
- Year the median home price will reach $1M: 2029
- Median home price (2029): $1,007,704
Denver
- Median home price (2024): $669,900
- Year the median home price will reach $1M: 2030
- Median home price (2030): $1,080,890
Nassau County, New York
- Median home price (2024): $729,000
- Year the median home price will reach $1M: 2030
- Median home price (2030): $1,016,663
Riverside, California
- Median home price (2024): $600,000
- Year the median home price will reach $1M: 2030
- Median home price (2030): $1,006,260
Editor’s note: Data is sourced from Zoocasa and is accurate as of Oct. 10, 2024.
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This article originally appeared on GOBankingRates.com: 12 Cities Where $1 Million Homes Will Be the Norm by 2030
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