For years, the phrase “million-dollar home” has evoked images of sprawling estates, high-end finishes and exclusive neighborhoods. But as home prices continue to climb across the U.S., $1 million doesn’t stretch as far as it used to. This is especially true in major cities.
According to a recent Redfin report, the median price for a luxury home nationwide has soared to almost $1.35 million, up about 70% from nearly $798,000 in 2020. However, if you’re dreaming of luxury living on a sub-million-dollar budget, a few U.S. metros still offer opportunities.
