The 22 American cities with the most million-dollar homes - Business Insider

Million-dollar homes are most likely to be found on the East or West coasts of the US, according to a recent study.In November, LendingTree ranked the 50 largest metro areas in the US by the percentage of owner-occupied homes valued at $1 million or more. Four California cities top the list. In each, more than 10% of homes are valued over $1 million.Visit Business Insider's homepage for more stories.America's coasts are bursting with million-dollar homes.To pinpoint exactly where the most million-dollar homes are located across the US, LendingTree ranked the 50 largest Metropolitan Statistical Areas, according to the US Census Bureau's 2018 American Community Survey, by percentage of owner-occupied homes valued at $1 million or more.LendingTree calculated the concentration of million-dollar homes in each city by dividing the number of homes valued at $1 million or higher by the total number of homes in the statistical area, according to the report.The data shows that expensive properties are more likely to be on the East and West coasts than inland America, with the exception of Denver, Colorado. California is home to the top four cities with the most million-dollar homes, thanks in part to the high concentration of startups and tech giants in the area. In the top four cities, more than 10% of homes are valued over $1 million. San Jose is the only place where the median home value (among all homes) is above $1 million.Take a look at the U.S. cities with the highest share of million-dollar homes in America: