{"id":979112,"date":"2026-07-07T10:31:38","date_gmt":"2026-07-07T14:31:38","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/the-typical-luxury-home-costs-9-times-more-than-the-typical-non-luxury-home-in-these-south-florida-wealth-magnet-metros\/"},"modified":"2026-07-07T10:31:38","modified_gmt":"2026-07-07T14:31:38","slug":"the-typical-luxury-home-costs-9-times-more-than-the-typical-non-luxury-home-in-these-south-florida-wealth-magnet-metros","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/the-typical-luxury-home-costs-9-times-more-than-the-typical-non-luxury-home-in-these-south-florida-wealth-magnet-metros\/","title":{"rendered":"The Typical Luxury Home Costs 9 Times More Than the Typical Non Luxury Home in These South Florida \u2018Wealth Magnet\u2019 Metros"},"content":{"rendered":"

<\/p>\n

The Typical Luxury Home Costs 9 Times More Than the Typical Non Luxury Home in These South Florida \u2018Wealth Magnet\u2019 Metros<\/b><\/p>\n

Redfin reports nationwide, the typical luxury home costs 3.6 times more than the typical non-luxury home, little changed from last year\u2019s ratio of 3.5<\/i><\/p>\n

SEATTLE–(BUSINESS WIRE<\/a>)–
\nThe typical luxury home in West Palm Beach sold for $4.5 million, 8.9 times more than the typical non luxury home that sold during the three months ending in May. That\u2019s according to a new report<\/a> from Redfin<\/a>, the real estate brokerage powered by Rocket.<\/p>\n

\nThe South Florida metro has the biggest luxury home price premium among the 49 most populous U.S. housing markets, followed closely by neighboring Miami, where the typical luxury home sold for 8.8 times more than the typical non-luxury home.<\/p>\n

\nNext but with a much smaller luxury home price premium, comes New York City, where the typical luxury home costs 5.5 times more than the typical non luxury home.<\/p>\n

Metros With the Biggest Luxury Home Price Premiums, May 2026<\/b><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

Ranking<\/b><\/p>\n<\/td>\n

\n

Metro area<\/b><\/p>\n<\/td>\n

\n

Luxury median home sale price<\/b><\/p>\n<\/td>\n

\n

Non luxury median home sale price<\/b><\/p>\n<\/td>\n

\n

Median luxury-to-non luxury home price ratio<\/b><\/p>\n<\/td>\n

\n

Median luxury-to-non luxury home price ratio (May 2025)<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\n1.<\/p>\n<\/td>\n

\n

\nWest Palm Beach, FL<\/p>\n<\/td>\n

\n

\n$4,510,196<\/p>\n<\/td>\n

\n

\n$506,609<\/p>\n<\/td>\n

\n

\n8.9<\/p>\n<\/td>\n

\n

\n8.7<\/p>\n<\/td>\n<\/tr>\n

\n

\n2.<\/p>\n<\/td>\n

\n

\nMiami, FL<\/p>\n<\/td>\n

\n

\n$4,855,331<\/p>\n<\/td>\n

\n

\n$554,441<\/p>\n<\/td>\n

\n

\n8.8<\/p>\n<\/td>\n

\n

\n7.6<\/p>\n<\/td>\n<\/tr>\n

\n

\n3.<\/p>\n<\/td>\n

\n

\nNew York, NY<\/p>\n<\/td>\n

\n

\n$4,380,249<\/p>\n<\/td>\n

\n

\n$789,723<\/p>\n<\/td>\n

\n

\n5.5<\/p>\n<\/td>\n

\n

\n5.5<\/p>\n<\/td>\n<\/tr>\n

\n

\n4.<\/p>\n<\/td>\n

\n

\nLos Angeles, CA<\/p>\n<\/td>\n

\n

\n$4,512,482<\/p>\n<\/td>\n

\n

\n$916,294<\/p>\n<\/td>\n

\n

\n4.9<\/p>\n<\/td>\n

\n

\n4.8<\/p>\n<\/td>\n<\/tr>\n

\n

\n5.<\/p>\n<\/td>\n

\n

\nPhoenix, AZ<\/p>\n<\/td>\n

\n

\n$2,225,630<\/p>\n<\/td>\n

\n

\n$460,574<\/p>\n<\/td>\n

\n

\n4.8<\/p>\n<\/td>\n

\n

\n4.3<\/p>\n<\/td>\n<\/tr>\n

\n

\n6.<\/p>\n<\/td>\n

\n

\nNashville, TN<\/p>\n<\/td>\n

\n

\n$2,190,591<\/p>\n<\/td>\n

\n

\n$473,412<\/p>\n<\/td>\n

\n

\n4.6<\/p>\n<\/td>\n

\n

\n4.4<\/p>\n<\/td>\n<\/tr>\n

\n

\n7.<\/p>\n<\/td>\n

\n

\nPhiladelphia, PA<\/p>\n<\/td>\n

\n

\n$1,342,284<\/p>\n<\/td>\n

\n

\n$295,000<\/p>\n<\/td>\n

\n

\n4.6<\/p>\n<\/td>\n

\n

\n4.3<\/p>\n<\/td>\n<\/tr>\n

\n

\n8.<\/p>\n<\/td>\n

\n

\nTampa, FL<\/p>\n<\/td>\n

\n

\n$1,650,875<\/p>\n<\/td>\n

\n

\n$374,440<\/p>\n<\/td>\n

\n

\n4.4<\/p>\n<\/td>\n

\n

\n3.8<\/p>\n<\/td>\n<\/tr>\n

\n

\n9.<\/p>\n<\/td>\n

\n

\nAnaheim, CA<\/p>\n<\/td>\n

\n

\n$5,276,971<\/p>\n<\/td>\n

\n

\n$1,206,764<\/p>\n<\/td>\n

\n

\n4.4<\/p>\n<\/td>\n

\n

\n4.4<\/p>\n<\/td>\n<\/tr>\n

\n

\n10.<\/p>\n<\/td>\n

\n

\nSan Francisco, CA<\/p>\n<\/td>\n

\n

\n$6,648,922<\/p>\n<\/td>\n

\n

\n$1,558,458<\/p>\n<\/td>\n

\n

\n4.3<\/p>\n<\/td>\n

\n

\n4.2<\/p>\n<\/td>\n<\/tr>\n

\n

This report is based on a Redfin analysis of MLS data that is subject to revision. All figures cover a three month period ending in May 2026. Redfin defines luxury homes as those estimated to be in the top 5% of their metro area\u2019s price range, while non-luxury homes fall into the 35th-65th percentile.<\/i><\/p>\n<\/td>\n<\/tr>\n<\/table>\n

\n\u201cWest Palm Beach and Miami are wealth magnets for ultra-rich Americans thanks to Florida\u2019s favorable tax environment, warm climate and waterfront lifestyle,\u201d said Redfin Principal Economist Sheharyar Bokhari<\/a>.<\/p>\n

\n\u201cSouth Florida has evolved into one of the country\u2019s most popular destinations for luxury homebuyers. While buyers are drawn by the beaches, climate and international connectivity, Florida\u2019s tax advantages remain an important part of the equation for ultra-wealthy households. That combination continues to funnel demand into markets like West Palm Beach and Miami,\u201d he added.<\/p>\n

\nRedfin Principal Agent Dina Blau<\/a> has noticed in West Palm Beach that the homebuyers who have been relocating to the area in recent years are wealthier and younger than those who tended to move there in the past.<\/p>\n

\n\u201cWe\u2019re seeing strong migration from New York, New Jersey, California and other high-cost metro areas. Many buyers are relocating earlier in life than in past cycles\u2014often in their 40s and 50s\u2014driven by remote and hybrid work, tax advantages and lifestyle flexibility,\u201d she said.<\/p>\n

\nNationwide, the typical luxury home costs 3.6 times more than the typical non-luxury home, little changed from last year\u2019s ratio of 3.5. In May, luxury home prices rose nearly five times faster than non luxury prices<\/a>. High-end homebuyers are largely unfazed by the combination of high prices and mortgage rates that are sidelining most Americans from buying a home now if they don\u2019t have to.<\/p>\n

\nPortland, OR has the nation\u2019s smallest luxury home price premium, with the typical luxury home costing 2.6 times more than the typical non luxury home. It\u2019s followed by Sacramento, CA (3) and Columbus, OH (2.9).<\/p>\n

Metros With the Smallest Luxury Home Price Premiums, May 2026<\/b><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

Ranking<\/b><\/p>\n<\/td>\n

\n

Metro area<\/b><\/p>\n<\/td>\n

\n

Luxury median home sale price<\/b><\/p>\n<\/td>\n

\n

Non luxury median home sale price<\/b><\/p>\n<\/td>\n

\n

Median luxury-to-non luxury home price ratio<\/b><\/p>\n<\/td>\n

\n

Median luxury-to-non luxury home price ratio (May 2025)<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\n1.<\/p>\n<\/td>\n

\n

\nPortland, OR<\/p>\n<\/td>\n

\n

\n$1,459,821<\/p>\n<\/td>\n

\n

\n$553,396<\/p>\n<\/td>\n

\n

\n2.6<\/p>\n<\/td>\n

\n

\n2.6<\/p>\n<\/td>\n<\/tr>\n

\n

\n2.<\/p>\n<\/td>\n

\n

\nSacramento, CA<\/p>\n<\/td>\n

\n

\n$1,721,234<\/p>\n<\/td>\n

\n

\n$583,254<\/p>\n<\/td>\n

\n

\n3<\/p>\n<\/td>\n

\n

\n2.8<\/p>\n<\/td>\n<\/tr>\n

\n

\n3.<\/p>\n<\/td>\n

\n

\nColumbus, OH<\/p>\n<\/td>\n

\n

\n$1,017,342<\/p>\n<\/td>\n

\n

\n$350,000<\/p>\n<\/td>\n

\n

\n2.9<\/p>\n<\/td>\n

\n

\n2.9<\/p>\n<\/td>\n<\/tr>\n

\n

\n4.<\/p>\n<\/td>\n

\n

\nRiverside, CA<\/p>\n<\/td>\n

\n

\n$1,723,962<\/p>\n<\/td>\n

\n

\n$580,962<\/p>\n<\/td>\n

\n

\n3<\/p>\n<\/td>\n

\n

\n2.9<\/p>\n<\/td>\n<\/tr>\n

\n

\n5.<\/p>\n<\/td>\n

\n

\nCincinnati, OH<\/p>\n<\/td>\n

\n

\n$952,523<\/p>\n<\/td>\n

\n

\n$305,707<\/p>\n<\/td>\n

\n

\n3.1<\/p>\n<\/td>\n

\n

\n3.3<\/p>\n<\/td>\n<\/tr>\n

\n

\n6.<\/p>\n<\/td>\n

\n

\nVirginia Beach, VA<\/p>\n<\/td>\n

\n

\n$1,105,952<\/p>\n<\/td>\n

\n

\n$367,393<\/p>\n<\/td>\n

\n

\n3<\/p>\n<\/td>\n

\n

\n2.9<\/p>\n<\/td>\n<\/tr>\n

\n

\n7.<\/p>\n<\/td>\n

\n

\nMontgomery County, PA<\/p>\n<\/td>\n

\n

\n$1,544,219<\/p>\n<\/td>\n

\n

\n$499,953<\/p>\n<\/td>\n

\n

\n3.1<\/p>\n<\/td>\n

\n

\n3<\/p>\n<\/td>\n<\/tr>\n

\n

\n8.<\/p>\n<\/td>\n

\n

\nSan Antonio, TX<\/p>\n<\/td>\n

\n

\n$968,344<\/p>\n<\/td>\n

\n

\n$309,307<\/p>\n<\/td>\n

\n

\n3.1<\/p>\n<\/td>\n

\n

\n3<\/p>\n<\/td>\n<\/tr>\n

\n

\n9.<\/p>\n<\/td>\n

\n

\nMilwaukee, WI<\/p>\n<\/td>\n

\n

\n$1,098,057<\/p>\n<\/td>\n

\n

\n$349,985<\/p>\n<\/td>\n

\n

\n3.1<\/p>\n<\/td>\n

\n

\n3<\/p>\n<\/td>\n<\/tr>\n

\n

\n10.<\/p>\n<\/td>\n

\n

\nIndianapolis, IN<\/p>\n<\/td>\n

\n

\n$1,009,314<\/p>\n<\/td>\n

\n

\n$313,242<\/p>\n<\/td>\n

\n

\n3.2<\/p>\n<\/td>\n

\n

\n3<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

\nTo view the full report, including full metro-level data, please visit:
\n
https:\/\/www.redfin.com\/news\/west-palm-beach-pending-sales-rise<\/a><\/p>\n

About Redfin<\/b><\/p>\n

\nRedfin is a technology-driven real estate company with the country’s most-visited real estate brokerage website. As part of Rocket Companies (NYSE: RKT), Redfin is creating an integrated homeownership platform from search to close to make the dream of homeownership more affordable and accessible for everyone. Redfin\u2019s clients can see homes first with on-demand tours, easily apply for a home loan with Rocket Mortgage, and save thousands in fees while working with a top local agent.<\/p>\n

\nYou can find more information about Redfin and get the latest housing market data and research at https:\/\/www.redfin.com\/news<\/a>. For more information about Rocket Companies, visit https:\/\/www.rocketcompanies.com<\/a>.<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20260707200357\/en\/<\/a><\/span><\/p>\n

Contact Redfin Journalist Services:
\n<\/b>
Tana Kelley
\n
press@redfin.com<\/a><\/p>\n

KEYWORDS:<\/b> Washington United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Professional Services Technology Data Analytics Residential Building & Real Estate Software Construction & Property<\/p>\n

MEDIA:<\/b><\/p>\n\n","protected":false},"excerpt":{"rendered":"

The Typical Luxury Home Costs 9 Times More Than the Typical Non Luxury Home in These South Florida \u2018Wealth Magnet\u2019 Metros Redfin reports nationwide, the typical luxury home costs 3.6 times more than the typical non-luxury home, little changed from last year\u2019s ratio of 3.5 SEATTLE–(BUSINESS WIRE)– The typical luxury home in West Palm Beach sold for $4.5 million, 8.9 times more than the typical non luxury home that sold during the three months ending in May. That\u2019s according to a new report from Redfin, the real estate brokerage powered by Rocket. The South Florida metro has the biggest luxury home price premium among the 49 most populous U.S. housing markets, followed closely by neighboring Miami, where the typical luxury … <\/p>\n

Continue reading “The Typical Luxury Home Costs 9 Times More Than the Typical Non Luxury Home in These South Florida \u2018Wealth Magnet\u2019 Metros”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-979112","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nThe Typical Luxury Home Costs 9 Times More Than the Typical Non Luxury Home in These South Florida \u2018Wealth Magnet\u2019 Metros - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/the-typical-luxury-home-costs-9-times-more-than-the-typical-non-luxury-home-in-these-south-florida-wealth-magnet-metros\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Typical Luxury Home Costs 9 Times More Than the Typical Non Luxury Home in These South Florida \u2018Wealth Magnet\u2019 Metros - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"The Typical Luxury Home Costs 9 Times More Than the Typical Non Luxury Home in These South Florida \u2018Wealth Magnet\u2019 Metros Redfin reports nationwide, the typical luxury home costs 3.6 times more than the typical non-luxury home, little changed from last year\u2019s ratio of 3.5 SEATTLE–(BUSINESS WIRE)– The typical luxury home in West Palm Beach sold for $4.5 million, 8.9 times more than the typical non luxury home that sold during the three months ending in May. That\u2019s according to a new report from Redfin, the real estate brokerage powered by Rocket. The South Florida metro has the biggest luxury home price premium among the 49 most populous U.S. housing markets, followed closely by neighboring Miami, where the typical luxury … Continue reading "The Typical Luxury Home Costs 9 Times More Than the Typical Non Luxury Home in These South Florida \u2018Wealth Magnet\u2019 Metros"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/the-typical-luxury-home-costs-9-times-more-than-the-typical-non-luxury-home-in-these-south-florida-wealth-magnet-metros\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2026-07-07T14:31:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20260707200357r1&sid=flmnd&distro=nx&lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/the-typical-luxury-home-costs-9-times-more-than-the-typical-non-luxury-home-in-these-south-florida-wealth-magnet-metros\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/the-typical-luxury-home-costs-9-times-more-than-the-typical-non-luxury-home-in-these-south-florida-wealth-magnet-metros\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"The Typical Luxury Home Costs 9 Times More Than the Typical Non Luxury Home in These South Florida \u2018Wealth Magnet\u2019 Metros\",\"datePublished\":\"2026-07-07T14:31:38+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/the-typical-luxury-home-costs-9-times-more-than-the-typical-non-luxury-home-in-these-south-florida-wealth-magnet-metros\\\/\"},\"wordCount\":793,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/the-typical-luxury-home-costs-9-times-more-than-the-typical-non-luxury-home-in-these-south-florida-wealth-magnet-metros\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&sty=20260707200357r1&sid=flmnd&distro=nx&lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/the-typical-luxury-home-costs-9-times-more-than-the-typical-non-luxury-home-in-these-south-florida-wealth-magnet-metros\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/the-typical-luxury-home-costs-9-times-more-than-the-typical-non-luxury-home-in-these-south-florida-wealth-magnet-metros\\\/\",\"name\":\"The Typical Luxury Home Costs 9 Times More Than the Typical Non Luxury Home in These South Florida \u2018Wealth Magnet\u2019 Metros - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/the-typical-luxury-home-costs-9-times-more-than-the-typical-non-luxury-home-in-these-south-florida-wealth-magnet-metros\/","og_locale":"en_US","og_type":"article","og_title":"The Typical Luxury Home Costs 9 Times More Than the Typical Non Luxury Home in These South Florida \u2018Wealth Magnet\u2019 Metros - Market Newsdesk","og_description":"The Typical Luxury Home Costs 9 Times More Than the Typical Non Luxury Home in These South Florida \u2018Wealth Magnet\u2019 Metros Redfin reports nationwide, the typical luxury home costs 3.6 times more than the typical non-luxury home, little changed from last year\u2019s ratio of 3.5 SEATTLE–(BUSINESS WIRE)– The typical luxury home in West Palm Beach sold for $4.5 million, 8.9 times more than the typical non luxury home that sold during the three months ending in May. That\u2019s according to a new report from Redfin, the real estate brokerage powered by Rocket. 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