There was a time when the term “million-dollar home” conjured images of mansions in Beverly Hills or penthouses in Manhattan.
But in a housing market where the median price of a US home has jumped 30% since 2020 and nearly doubled since 2010, what does a cool million command these days?
A six-bedroom home? Sure, but it’s in Cleveland.
A luxury penthouse? Sort of. Think closer to the ground.
We scoured real estate listings in cities around the country to see what kind of digs you can get for $1 million. Here’s a sample.
Read more: How to buy a house
New York City: Single-bedroom co-op for $1,035,000
This artsy one-bedroom, one-bath apartment is in a 1925 building on the island of Manhattan. It has an elevator and a live-in superintendent. In addition to the price tag, the building charges $1,700 monthly for building maintenance fees that could include hot water, taxes, and doorman service.
It’s located in the swanky Chelsea neighborhood and is just a couple of blocks or a subway ride away from everything New York City is known for: the Empire State Building, Times Square, Central Park, and more.
“[The] generalization is going to be close to a million dollars for a really nice, beautiful one-bedroom in a good neighborhood,” David Palmieri, a real estate agent based in New York City, told Yahoo Finance.
The estimated monthly payment, including mortgage and maintenance, is nearly $7,000 with 25% down and a 30-year mortgage rate at 7%. The median list price in New York City is $820,000.
Tampa, Florida: New construction near the water for $1,039,000
Less than two miles from the water, this 3,000-square-foot south Tampa home comes with five bedrooms and 4.5 bedrooms. The new construction is finished with high ceilings, modern appliances, and luxury details throughout.
Neighborhood amenities include community parks with sports facilities, a golf course, and beachfront dining, but homeowners have to brave the summer: The average high temperature in August is 90 degrees, and the average humidity is 80%.
“It feels like you opened the dryer, but the clothes are still wet outside 95% of the year,” Reddit user @md28usmc posted in a local Reddit group.
The estimated monthly payment, including property taxes and home insurance, is around $6,700 with 20% down and a 30-year mortgage rate at 7.2%. The median list price in Tampa is $429,933.
Birmingham, Alabama: Historic home in a vibrant neighborhood for $1,030,000
This Georgian-style home sits in the heart of historic Forest Park, a rolling hill community lined with charming homes and vibrant shops. At nearly 4,000 square feet, the brick-walled property has five bedrooms and features a formal living room, formal dining room, breakfast room, and sunroom.
University of Alabama at Birmingham, the state’s largest public employer and home to the region’s largest academic medical facilities, is a 10-minute drive away. Zillow recently named Birmingham as one of the 10 best markets for first-time home buyers.
“The people here are awesome! Very friendly and helpful! Lots of art, music, and entertainment. Great food scene. Great festivals and public parks,” Reddit user @Adventurous-Film-989 said in r/Birmingham. “You can get everywhere in less than 15 minutes. Sense of community. I love Birmingham and [am] very happy we moved our family here.”
The estimated monthly payment, including taxes and insurance, is about $6,300, with a 20% down payment and a 30-year mortgage rate at 7.2%. The median list price in Birmingham is $167,967.
Read more: What to know if you’re a first-time homebuyer
San Francisco: Condo in the heart of Silicon Valley for $1,068,000
Located in Menlo Park, a city in the San Francisco Bay Area, this two-bedroom, two-bath condo is almost 1,000 square feet. It has been updated with sleek kitchen cabinets and quartz countertops and is part of an HOA community with a pool and a clubhouse.
The location is ideal for those wanting to be close to the tech scene. The unit is less than seven miles from Meta headquarters and three miles from Stanford University. Menlo Park is dubbed the “Capital of venture capital.”
“Life in what’s typically understood as Silicon Valley is pretty much typical suburbia but far more expensive, nicer weather, and with far more Teslas driving around,” wrote Reddit user @jmking in r/ExperiencedDevs.
The estimated monthly payment, including taxes, insurance, and a $700 HOA fee, is around $7,800, with a 20% down payment and a 30-year mortgage rate at 7.2%. The median list price in Menlo Park is $2,458,667.
Chicago: Luxury townhome near downtown for $1,000,000
This spacious urban home, which spans 3,000 square feet, has four bedrooms and four bathrooms. It features hardwood floors, an eat-in kitchen, and a gas fireplace. The living spaces extend to the outdoors, where there is a private terrace and shared outdoor pool and sundeck in the community.
The townhome is steps from lakefront beaches and Lincoln Park, home to the Lincoln Park Zoo. It is also a 10- to 12-minute drive — without traffic — to downtown Chicago, Millennium Park, and the Chicago Riverwalk.
The estimated payment, including property taxes, insurance, and HOA fees of $1,500, is nearly $8,850, with a 20% down payment and a 30-year mortgage rate at 7.2%. The median list price in Chicago is $350,000.
St. Louis, Missouri: Turnkey home with multiple fireplaces for $1,000,000
This craftsman bungalow home has four bedrooms and four bathrooms over 3,200 square feet. It comes with a host of amenities: two fireplaces, storage cabinets, and a recreational room with a wet bar.
As dressed up as the inside, the outdoors is fitted with a covered patio, an open-air patio, and a front porch swing. St. Louis was recently named as the best city in the US for first-time homebuyers due to its affordable prices and lively community. It is also home to seven Fortune 500 companies and the Gateway Arch.
The estimated payment, including taxes and insurance, is around $6,700, with a 20% down payment and a 30-year mortgage rate at 7.2%. The median list price in St. Louis is $183,667.
Las Vegas: Gated community home near the strip for $1,025,000
Spanning 3,000 square feet, this property has three bedrooms and three bathrooms, plus a den. The open-concept kitchen has a six-burner cooktop and grill, a large island, and built-in double ovens.
The backyard is even more inviting. The heated salt-water pool has three waterfalls and a spa, controlled by an app on your phone. The home is less than 10 miles away from the Las Vegas Strip. However, the weather can be brutal — the temperature reaches at least 100 on an average of 70 days a year, and rare summer days can reach 115.
The estimated payment, including taxes, insurance, and HOA of $250, is around $6,500, with a 20% down payment and a 30-year mortgage rate at 7.2%. The median list price in Las Vegas is $440,967.
Nashville, Tennessee: Modern construction near downtown for $1,035,000
At 2,500 square feet, this new-construction home has three bedrooms and three bathrooms, 10-foot ceilings, and an open gourmet kitchen.
The property is right around the corner from Centennial Park, a 132-acre urban park featuring a Parthenon, Lake Watauga, Centennial Art Center, and a Taylor Swift bench. It is also less than five miles away from Vanderbilt University and the heart of the country music scene in downtown Nashville.
The estimated payment, including taxes and insurance, is around $6,350, with a 20% down payment and a 30-year mortgage rate at 7.2%. The median list price in Nashville is $506,633.
Cleveland, Ohio: Suburban mansion for $900,000
At nearly 7,000 square feet, this grand house has six bedrooms and five bathrooms. Located just outside of downtown, the home is filled with amenities: an oversized living room with large windows, a library with built-in bookshelves, a recreation room with a wet bar, an exercise room with a sauna and full bath, and a 500-bottle wine cave.
The entire house is decked out with wall panelings, detailed molding, and fancy lighting. It also has an enclosed glass porch situated next to the outside porch.
The estimated payment, including taxes and insurance, is around $6,500, with a 20% down payment and a 30-year mortgage rate at 7.2%. The median list price in Cleveland is $122,967.
Rebecca Chen is a reporter for Yahoo Finance and previously worked as an investment tax certified public accountant (CPA).
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