Do you have a stack of cash and want to make a splash? Head to Detroit if you’re on the hunt for a bargain mansion.
And it’s nearly half of the price of a median luxury home nationwide “The Detroit area has a lot of beautiful, high-end homes that are affordable here, but would cost millions of dollars if they were in a major coastal metro area,” Redfin’s Anne Loehr said in the report.
“I don’t know how long it will last, especially as we see more people moving here from the coasts. ” Detroit is followed by Rust Belt hub Cleveland, where a home fit for a king goes for a median price of $833,228. Pittsburgh and Cincinnati, both also in the Rust Belt, and San Antonio round out the list, each with a median home sale price in the $900,000s.
Shannon Workman – stock.adobe.comNicholas J. Klein – stock.adobe.com Still, the number of metro areas in the US where homebuyers can score a resplendent home has been dropping. Off the list in 2026 are Indianapolis and St. Louis, as those two metros, along with Columbus, Ohio, now cross the $1 million threshold in the luxury sector. Luxury homes can be picked up in Pittsburgh for a median price of $904,202.
On the priciest side, the country’s most expensive luxury homes can still be found in San Francisco, where a median luxury home sells for roughly $6.6 million. The City by the Bay is followed by Southern California’s Anaheim, which has a median topping $5 million. Miami, Los Angeles and West Palm Beach — all with a median price exceeding $4.5 million — comprise the rest of the top-5 list.
Rich buyers are outspending the average American, as luxury home demand continues to outpace the rest of the market, according toThe median US luxury home sale price is up 4.7% year-over-year to $1.37 million — more than triple the 1.5% gain in non-luxury sale prices. Detroit is the most affordable metro for luxury homes, with a median price that is 47.7% less than the typical luxury home nationwide. Detroit's luxury median home sale price ticked down 1% year-over-year.
In Cleveland, a luxury home can be nabbed for a median sale price of $833,228. Homebuyers can pick up a swanky home in Cincinnati for a median price of $952,523. SeanPavonePhoto - stock.adobe.comTupungato - stock.adobe.com
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