These 5 metros have the most million-dollar homes: If you’re selling, here’s what to know about the tax consequences

Million-dollar homes aren’t common in the U.S., but you’re more likely to find these properties along the coasts. That’s according to a LendingTree study that ranked the country’s 50 biggest metropolitan areas by the share of owner-occupied properties worth $1 million or more. The average share of million-dollar owner-occupied homes in the 50 biggest metros is 4.71%. But in San Jose, California, 52.89% are worth $1 million or more, and in San Francisco, 40.37% are. Other metros with the highest share of million-dollar properties included Los Angeles, San Diego, New York, Seattle, Boston, Washington, Miami and Denver. By comparison, places like Buffalo, New York; Cleveland and Pittsburgh had the smallest share of million-dollar homes, representing less than 1% of owner-occupied properties. To continue reading the rest of the article, please click on the source link below: https://www.cnbc.com/2022/07/05/metropolitan-areas-with-the-most-million-dollar-homes.html