According to Zillow Research, 164 cities nationwide, of more than 10,000 analyzed, have a median home value of $1 million or more as of a year ago. Over the past year, 33 cities have been added to the list and Zillow is now estimating that another 23 cities will be added to the list in the coming year.

Unsurprisingly, California has more than half of the nation’s million-dollar markets, while the next most highly represented comes from the east coast in the metro areas surrounding New York City. The 23 expected to join the list also lean heavily coastal. Check out their findings below.

Fourteen are in California – and nine of those are in the Bay Area. They include East Palo Alto, which is expected to have a median home value of $1.1 million by June 2019. It will join its cousin Palo Alto, where the median home value in June 2018 was $3.3 million.

The other upcoming $1 million cities are in coastal states as well, although not necessarily on the coast itself: Anna Maria in the Sarasota area of Florida; Belmont and Lexington in the Boston metro; Biltmore Forest in the Asheville, N.C., metro; Woodbury and Roslyn in the New York metro area; and Bellevue and Sammamish in the Seattle area.

Interestingly, of the 23 cities expected to cross the $1 million in the next year, three had actually crossed the threshold in prior years, before median home values toppled during the Great Recession. Those three markets are:

  • La Habra Heights, Los Angeles Metro, California (Peak ZHVI: $1,022,400, March 2006)
  • Woodbury, New York City Metro, New York ($1,064,700, April 2006)
  • Franklin Lakes, New York City Metro, New Jersey ($1,225,200, July 2006)

All of the anticipated newcomers (or, in some cases, “returners”) had median home values above $800,000 in June 2018, with forecasted growth over the next year ranging from a low of 2.7 percent in Biltmore Forest, N.C., to 18.3 percent in Burbank, Calif.

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