---
title: The US hit a record number of $1m+ homes
description: The jump was most notable in the Golden State, which never fails to live up to its name.
---

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# [The US hit a record number of $1m+ homes](https://hs-sbup.thehustle.co/news/03172022-1-million-homes)

 Written by [Jacob Cohen](https://hs-sbup.thehustle.co/news/author/jacob-cohen) | Mar 17, 2022 8:09:08 AM

In February 2020, the number of US homes worth $1m+ was 4.8%. Last month, that number was 8.2%, per [Redfin](https://www.redfin.com/news/million-dollar-homes-february-2022/).

The jump was most notable in the Golden State, which never fails to live up to its name:

- **7 of the top 10** metro areas with the highest share of $1m+ homes are in California.
- **Almost 9-in-10** homes in San Francisco and San Jose are listed for $1m+. (Even this [fixer-upper](https://apnews.com/article/business-san-francisco-wiley-3e939dd2db9cf9e06836b3ab49794440) sold for $2m.)
- **Anaheim** saw a 28% jump in its share of $1m+ homes.

**Why’s this happening?**

According to Redfin, low mortgage rates and covid trends led to a 50% drop in the number of homes for sale despite high demand.

The good news — there’s always Elgin, Illinois, where the share of $1m+ homes has grown just 0.1%. That’s lower than anywhere else.

[View full post](https://hs-sbup.thehustle.co/news/03172022-1-million-homes)

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