The cost of luxury real estate in every state
With real estate prices on the rise, some people wonder if buying a luxury home is even worth it. Luxury real estate is a personal financial decision, but if you’re looking at it as an investment and not just a home, you should compare costs across the U.S. According to JP Morgan Private Bank, changing mortgage rates have not affected the luxury real estate market, but changes in individuals’ net worth have a big impact on the value of luxury real estate.
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GOBankingRates compiled data from across the U.S. to examine the wide range of luxury home prices. Here are the values of “top-tier” homes in each state, ranked from highest to lowest price.
California
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Hawaii
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Washington, DC
Massachusetts
Washington
new York
Find out: The 5 worst cities in Florida to buy property in the next 5 years, according to real estate agents
Colorado
New Jersey
Montana
Utah
Learn more: 5 types of homes expected to drop in value by the end of 2025
Oregon
Rhode Island
Idaho
Virginia
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New Hampshire
Florida
Arizona
Connecticut
Discover more: The 20 best cities to buy a house for under $100,000
Maryland
Maine
Nevada
Vermont
Read more: Top 3 Florida Cities to Buy Property in the Next 5 Years, According to Real Estate Agents
Wyoming
Delaware
North Carolina
Georgia
Learn more: Real estate market 2024: Real estate prices are falling in 10 formerly overpriced real estate markets
Tennessee
Texas
South Carolina
Alaska
Check out: The 10 worst cities to buy property in the next 5 years, according to real estate agents
Minnesota
South Dakota
New Mexico
Wisconsin
Read more: I’m a real estate agent: These 5 cities in Arizona will soon be unaffordable
Pennsylvania
Illinois
Nebraska
Michigan
Learn more: I’m a real estate expert: 8 overvalued boomtowns during the pandemic whose value could soon drop
Kansas
Missouri
North Dakota
Alabama
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Ohio
Indiana
Iowa
Arkansas
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Kentucky
Oklahoma
Louisiana
Mississippi
Learn more: How much income is needed to be in the top 1% in all 50 states
West Virginia
Methodology: These are the “top tier” home values in each state as of May 2024. Top tier is defined by Zillows as “the typical value for homes in the 65th to 95th percentile range for a given area.”“
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This article originally appeared on GOBankingRates.com: The Cost of Luxury Homes in Every State