The cities with the most million-dollar homes revealed - with one in ten properties in the US now worth at least $1M

The U.S. cities with the most million-dollars homes have been revealed, and one state in particular dominated the list. 

Almost one in 10 American homes were worth at least $1million in 2023, according to a real-estate analysis by Redfin.

While the national average percentage of homes being valued over $1million is 8.2 percent - the city at the top of the list has a whopping 81 percent of houses above the million-dollar mark. 

San Francisco was the city that came in first - closely followed by its neighbor in the Bay Area, San Jose - with 80 percent of properties costing over $1million.

The cities that followed saw a substantial decrease in percentage, but the numbers were still shocking.

In third place came in Anaheim (55 percent), followed by Oakland (49 percent), San Diego (40 percent) and Los Angeles (38 percent).

The top six cities were all unsurprisingly in California, the state with the largest population and highest median home prices. 

In fact, California's home prices have reached such astronomical figures that residents are fleeing the Golden State in search of cheaper properties - instead opting for states like Florida, Texas and North Carolina. 

This comes as the California Association of Realtors revealed that the median price of a single-family home in California reached $904,210 in April - which is the highest number in the state's history.

The first non-California on the list for having the most million-dollar homes is Honolulu.

Located in the gorgeous and sunny state of Hawaii, it's no surprise that home prices are so high - with 38 percent of homes being sold for over $1million.

Hawaii is considered the most expensive state to live in, because on top of expensive housing - there are also high utility costs and the need to import goods and services from the main land.  

Another California city comes in next: Oxnard (35 percent), followed by Salt Lake City (33 percent), Seattle (33 percent), New York (29 percent), Bridgeport (26 percent), Boston (22 percent), Nassau County (16 percent) and Miami (14 percent). 

Data from Zillow shows that America has a record number of 'million-dollar cities' - where the average house price now exceeds six figures, new data shows.

In total 550 US cities have an average property price of $1 million or above, up by 59 from this time last year.

The data from property portal Zillow lays bare how red-hot America's real estate landscape remains after years of consistent growth.

California alone counts 210 'million-dollar cities' - the highest of any US state and an increase of 12 from last year. 

It was followed by New York, New Jersey and Florida which count 66, 49 and 32 respectively.  

The growth of luxury real estate has largely outstripped the general housing market, Zillow's research shows.

While typical US home values have grown 4.2 percent compared to last year, those in 'million-dollar cities' had seen an average year-on-year increase of 4.6 percent.