Million-dollar homes are becoming more common, with the U.S. having 621 cities where a typical home is worth $1 million or more. While high interest rates have caused commercial real estate prices to fall, it hasn’t had the same impact on the residential market. Housing inventory has increased, but it still remains below average historical levels. At the same time, while mortgage rates have fallen, U.S. home prices continue to climb, nearing record highs. This graphic, via Visual Capitalist’s Dorothy Neufeld, shows the number of cities in each U.S. state where a typical home costs $1 million or more, based on data from Zillow. Ranked: The Number of Million-Dollar Cities, by State Below, we show the number of cities where a typical home (the average home in the 35th to 65th percentile) costs $1 million or more by state: Rank State Number of Million-Dollar Cities 1 California 218 2 New York 76 3 New Jersey 60 4 Massachusetts 44 5 Florida 30 6 Washington 23 7 Colorado 22 7 Hawaii 22 9 Texas 17 10 Maryland 11 11 Utah 9 11 Virginia 9 13 Illinois 8 14 Minnesota 7 15 Connecticut 6 15 Missouri 6 15 South Carolina 6 18 North Carolina 5 […]