Detroit Leads Nation in Affordable Luxury Homes

Detroit has emerged as the most affordable U.S. market for luxury homes, where the median sale price for a high-end property is $719,252, according to a recent report from Redfin. This price point is 47.7% lower than the median luxury home price nationwide and represents a decrease from $753,851 in 2025.

Nationally, the median price for a luxury home, defined as those in the top 5% of their local market's price range, stands at $1.37 million. This figure represents a 4.7% year-over-year increase, significantly outpacing the 1.5% gain for non-luxury home prices. "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," stated Anne Loehr of Redfin. She added, "I don’t know how long it will last, especially as we see more people moving here from the coasts."

Following Detroit, Cleveland is the next most affordable metro for luxury real estate, with a median sale price of $833,228. Other Rust Belt cities, Pittsburgh and Cincinnati, along with San Antonio, round out the top five, all with median luxury home prices in the $900,000s.

The number of U.S. metropolitan areas where luxury homes can be purchased for under $1 million has decreased. Last year, seven such markets existed. Indianapolis, St. Louis, and Columbus, Ohio, have now surpassed the $1 million threshold in the luxury sector.

Conversely, the most expensive luxury housing markets remain on the West Coast and in Florida. San Francisco leads this list, with a median luxury home sale price of approximately $6.6 million. Anaheim in Southern California follows, with a median price exceeding $5 million. Miami, Los Angeles, and West Palm Beach also feature prominently, each with median luxury home prices above $4.5 million.

Redfin data indicates that demand for luxury homes continues to outpace the broader housing market, with affluent buyers increasing their spending.