A $1 million home might be a dream home in many neighborhoods, but that’s not the case everywhere—particularly for borrowers wondering how large of a mortgage they can qualify for and what kind of interest rate they can get.
According to Zillow’s data from February 2024, a typical home is valued at over $1 million in 550 cities across the country. Most of those (210) are in California—where mid-tier homes go for around $775,000 on average. But many are also in New York, New Jersey, Florida, and Massachusetts.
