They say $1 million dollars doesn’t give you as much as it used to. In the housing market, that’s certainly true. Or is it? When discussing luxury home prices across the United States, well, answers can be a bit convoluted. In bursting markets like Los Angeles and New York City, $1 million probably won’t buy you a huge mansion but it will certainly pay for an upscale home in a good-to-do neighborhood.
Going broader, in states like Michigan or Montana, $1 million will net you plenty of rooms and additional amenities in a modern-built home or smaller mansion. As regions, geographies, populations, and offerings can vary city to city, let alone across the US, let’s examine what $1 million will buy you in luxury home purchasing power across the country.