The Cost of Luxury Homes in Every State
With the rising housing prices, some people wonder whether buying a luxury home is worth it. Luxury homes are personal financial decisions, but if you’re looking at it as an investment and not just a home, then consider comparing the costs across the U.S. According to J.P. Morgan Private Bank, changing mortgage rates do not impact the luxury housing market, but changes in the net worth of individuals have a high impact on luxury home values.
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California
“Top tier” home value: $1,452,034
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Hawaii
“Top tier” home value: $1,364,964
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Washington, D.C.
“Top tier” home value: $1,126,696
Massachusetts
“Top tier” home value: $1,032,394
Washington
“Top tier” home value: $1,012,395
New York
“Top tier” home value: $885,815
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Colorado
“Top tier” home value: $877,387
New Jersey
“Top tier” home value: $857,039
Montana
“Top tier” home value: $773,927
Utah
“Top tier” home value: $767,216
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Oregon
“Top tier” home value: $738,156
Rhode Island
“Top tier” home value: $736,454
Idaho
“Top tier” home value: $716,424
Virginia
“Top tier” home value: $714,202
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New Hampshire
“Top tier” home value: $706,029
Florida
“Top tier” home value: $697,388
Arizona
“Top tier” home value: $688,733
Connecticut
“Top tier” home value: $685,716
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Maryland
“Top tier” home value: $677,712
Maine
“Top tier” home value: $666,251
Nevada
“Top tier” home value: $640,713
Vermont
“Top tier” home value: $616,770
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Wyoming
“Top tier” home value: $610,479
Delaware
“Top tier” home value: $595,970
North Carolina
“Top tier” home value: $572,983
Georgia
“Top tier” home value: $553,721
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Tennessee
“Top tier” home value: $545,569
Texas
“Top tier” home value: $530,312
South Carolina
“Top tier” home value: $524,346
Alaska
“Top tier” home value: $519,089
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Minnesota
“Top tier” home value: $518,141
South Dakota
“Top tier” home value: $506,695
New Mexico
“Top tier” home value: $481,172
Wisconsin
“Top tier” home value: $476,567
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Pennsylvania
“Top tier” home value: $471,408
Illinois
“Top tier” home value: $459,024
Nebraska
“Top tier” home value: $434,355
Michigan
“Top tier” home value: $419,767
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Kansas
“Top tier” home value: $417,594
Missouri
“Top tier” home value: $417,288
North Dakota
“Top tier” home value: $404,960
Alabama
“Top tier” home value: $404,176
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Ohio
“Top tier” home value: $399,255
Indiana
“Top tier” home value: $396,806
Iowa
“Top tier” home value: $381,416
Arkansas
“Top tier” home value: $361,061
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Kentucky
“Top tier” home value: $348,434
Oklahoma
“Top tier” home value: $347,448
Louisiana
“Top tier” home value: $333,978
Mississippi
“Top tier” home value: $314,217
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West Virginia
“Top tier” home value: $298,732
Methodology: These are the “top tier” home values in every state as of May 2024. Top Tier is defined by Zillows as “typical value for homes within the 65th to 95th percentile range for a given range.“
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This article originally appeared on GOBankingRates.com: The Cost of Luxury Homes in Every State