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Austin boasts biggest share of million-dollar homes in Texas, says study

Austin ranks 11th in the nation for share of million-dollar homes.

As a testament to the metro area’s soaring home prices, Austin leads Texas for the share of homes valued at $1 million or more.

An analysis of U.S. Census Bureau data by lending marketplace LendingTree found the share of owner-occupied homes in the Austin area valued at $1 million or more stands at 3.52 percent. That percentage — the share of all owner-occupied homes — puts Austin first among major metro areas in Texas and 11th among the country’s 50 biggest metro areas.

The analysis shows the Austin area has 14,226 owner-occupied homes valued at $1 million or more.

From November 2019 to October 2020, 1,534 luxury homes ($1 million or higher) were sold in the Austin area, according to the Texas Association of Realtors. That represented a 41.4 percent year-over-year increase in luxury sales volume and a 5.6 percent share of all residential sales volume in the region (based on dollar totals).

In May, the median home price in the Austin metro area reached an all-time high of $465,000, according to the Austin Board of Realtors.

Here’s how Texas’ other major metro areas fared in the LendingTree analysis:

Houston ranked 16th, with 2.26 percent of owner-occupied homes valued at $1 million or more (32,167 homes total).
Dallas-Fort Worth ranked 20th, with 1.94 percent of owner-occupied homes valued at $1 million or more (29,509 homes total).
San Antonio ranked 34th, with 1.19 percent of owner-occupied homes valued at $1 million or more (6,037 homes total).

San Jose, California, topped the LendingTree list, with 47.29 percent of owner-occupied homes valued at $1 million or more.

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hottest headlines of 2024

Top Austin real estate stories of 2024 unlock hot suburbs, lavish homes

Photo by Mack Ramirez on Unsplash

It seems like everyone is hoping for lower housing prices as we move into 2025.

Editor's note: As 2024 comes to a close, we're looking back at the stories that defined Austin this year, including the red-hot topic of real estate. Austin's real estate market has seen some dramatic swings this year, but that's not all that happened. From Austin's suburbs continuing to boom to lavish estates hitting the market, here's a look at the hottest real estate headlines of 2024.

1. Annual Outdoor Living Tour returns for 2024 in Austin's 8 best backyards. The 2024 tour spanned a wide geography across Austin, including Travis Heights, Rollingwood, Allandale, and more.

2. Austin suburb's ZIP code stands out on new list of hottest U.S. housing markets in 2023. This Leander ZIP code was the 13th hottest market, showing that interest in the suburbs is as popular as ever.

3. Texas chef's Old West Austin home hits the market for $1.65 million. This home was originally built as a guest house in 1947, but has since been completely renovated with modern style.

1002 Baylor Street, Old West Austin, home for sale, Chef Lou Lambert The home is located above the street for privacy. Photo courtesy of James H Ruiz Photography

4. 5 Austin neighbors lauded as best small cities in America. Leading the pack were the northwest Austin suburbs of Leander and Cedar Park.

5. Drake suspected new owner of $15 million Dos Brisas ranch in Texas. Drake was reportedly the latest rap icon that can proudly say he's a Texan after purchasing this acclaimed 313-acre ranch in Washington, Texas.

6. 3 Austin neighbors shine on new list of America's safest suburbs. Cedar Park, Georgetown, and Round Rock have earned high praise for their livability and growth in recent years.

7. 6 hot Austin-area ZIP codes for first-time homebuyers in spring 2024. A local real estate expert shared his insight into the ZIP codes – from Kyle to Pflugerville – that received the most attention from first-time buyers.

8. South Austin 'entertainer's paradise' hits the market for $4 million. This 10,343-square-foot property comes with an expertly designed game room, a trendy golf simulator, an outdoor kitchen and lounge, a light up three-car carport, and much more.

9. This $4.85 million Hill Country ranch with its own lazy river is going wild on social media. The Lazy River Ranch in Boerne makes a splash with its many extravagant amenities.

227 Seewald Road, Boerne, Lazy River Ranch The Lazy River Ranch is at 227 Seewald Rd., Boerne. Photo courtesy of Kuper Sotheby's

10. Historic Greek mansion near Austin hits the market for just under $1 million. This Greek Revival mansion in Lockhart, built in 1907, was looking for a new owner to cherish its rich past.