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Only five major metros have typical luxury homes under $1 million
Detroit is the most affordable, with a typical luxury home at $719,252 in May, 47.7% below the nationwide luxury median of $1,374,470.
Redfin reports that a typical luxury home costs less than $1 million in just five of the 49 most populous U.S. metros, down from eight in 2025, based on a Redfin analysis of home-sale price-tier data for the three months ending May 31, 2026. The cheapest of those major metros is Detroit, Michigan, where the median sale price for a luxury home was $719,252 in May. That is 47.7% lower than the typical luxury home nationwide, and Redfin attributes the relative affordability to high-end inventory that would be far more expensive in major coastal markets.
Redfin also found that fast luxury price growth pushed Indianapolis and St. Louis above the $1 million threshold. Over the past year, luxury home prices rose 9% in Indianapolis to $1,009,314 and climbed 10.9% in St. Louis to $1,028,596.
Nationwide, Redfin says the median luxury home sale price is $1,374,470, up 4.7% from last year. It also highlights continued widening between luxury and non-luxury prices, with West Palm Beach, Florida, showing luxury sales at a median of $4.5 million, nearly nine times the typical non-luxury home. San Francisco remains the priciest major metro, where a typical luxury home sold for roughly $6.6 million over the three months ending May.