Introduction to Luxury Homes
Affluent homebuyers looking for a spacious home on a $1 million budget will find the most space for the price in the Houston metro area, according to a new housing study. The study reveals that homebuyers can get more value for their money by purchasing homes in Southern cities like Houston.
Top Metros for Luxury Homes
The Houston-Pasadena-The Woodlands area ranked No. 4 in Realtor.com’s analysis of cities that offer the most square feet for a $1 million price tag for 2025. The report examined September 2025 real estate listing trends to determine the top five metros where a $1-$2 million budget goes the furthest and the top five where it goes the shortest.
Comparison of Metros
The No. 1 U.S. metro where $1 million goes the furthest is Atlanta-Sandy Springs-Roswell, Georgia. Six-figure earning homebuyers can nab a 4,530-square-foot home in this metro for $1-$2 million. In Houston, the same price could net a 4,112-square-foot home, Realtor.com’s data revealed. That’s about 50 percent more than the national average (2,994 square feet) for the same price.
Houston’s Luxury Market
For reference, the median list price of a Houston home in September came out to $314,668, according to Zillow. There were fewer than 1,600 million-dollar listings on the market in the greater Houston area in September, and 10 percent of the most expensive listings in the metro started at nearly $800,000.
Expert Insights
Realtor.com senior economist Anthony Smith said affluent homebuyers get more value for their money by purchasing homes in Southern cities like Houston than they can get in other regions of America. "Luxury buyers are increasingly seeking value — and that doesn’t always mean a lower price tag, but rather more home for the money," Smith said.
Texas Metros Comparison
Elsewhere in Texas, Dallas-Fort Worth-Arlington ranked right behind Houston as the No. 5 U.S. metro where $1 million nets the most square footage of a home. North Texas millionaires can buy a 4,072-square-foot home for this six-figure price.
Top 5 Metros for Luxury Homes
The top five metros that offer the most square feet for $1 million are:
- No. 1 – Atlanta-Sandy Springs-Roswell, Georgia
- No. 2 – Denver-Aurora-Centennial, Colorado
- No. 3 – Minneapolis-St. Paul-Bloomington, Minnesota-Wisconsin
- No. 4 – Houston-Pasadena-The Woodlands, Texas
- No. 5 – Dallas-Fort Worth-Arlington, Texas
Metros with Least Square Footage
Meanwhile, the five U.S. metros that net the least square footage for $1 million are: Urban Honolulu, Hawaii (No. 1); San Jose-Sunnyvale-Santa Clara, California (No. 2); San Francisco-Oakland-Fremont, California (No. 3); Los Angeles-Long Beach-Anaheim, California (No. 4); and New York-Newark-New Jersey, New York-New Jersey (No. 5).
Conclusion
In conclusion, the Houston metro area offers the most space for the price for affluent homebuyers with a $1 million budget. With a wide range of luxury homes available, homebuyers can find the perfect property to suit their needs. Whether it’s a spacious mansion or a luxurious condo, Houston has something to offer for every luxury homebuyer.
