Want to know what it takes to afford a luxury home in your state? Realtor.com® has unveiled fascinating data on the cost of luxury homes across the U.S., and the numbers are more surprising than you’d think.
From California’s opulent mansions to West Virginia’s hidden gems, let’s explore how much money it really takes to live the high life.
Regional Breakdown of Luxury Home Costs and Salaries
Luxury Homes in the U.S.
| State | Luxury Price (Top 5%) | Monthly Payment | Income Needed |
|---|---|---|---|
| New York | $5,490,000 | $28,352 | $1,135,000 |
| California | $4,045,290 | $21,292 | $851,687 |
| West Virginia | $750,000 | $3,947 | $158,000 |
| Hawaii | $5,257,761 | $27,674 | $1,106,959 |
| Iowa | $749,945 | $3,947 | $157,892 |
(Based on a 20% down payment and a 6.89% mortgage rate)
Chart: Top 5 States with the Most Expensive Luxury Homes
Here is the chart displaying the top 5 states with the most expensive luxury homes. You can download the chart using the link below:
What Counts as “Luxury”?
Luxury homes are defined as the top 5% of properties by price in each state. These homes feature lavish details like:
- Grand architecture
- Premium finishes
- Exclusive locations (beachfront or city center)
Example Homes: What Does Luxury Look Like?
West Virginia
- Price: $750,000
- Features: 4 beds, pool, mountain views
New York
- Price: $5.49 million
- Features: High-rise condo with river views
Final Thoughts
- Most Expensive: New York and California top the list with multi-million dollar properties.
- Affordable Luxury: West Virginia and Iowa offer high-end living under $800,000.
Ready to take the plunge into luxury? Start your search here.
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