Explore how far $1 million stretches in different U.S. regions, revealing surprising differences in home size and amenities.
Detroit: If you’ve got a million bucks to spend, you’ll find some pretty different options depending on where you are in the U.S. The Midwest is where your dollar goes the furthest, offering spacious homes for that price.
In the Midwest, a million-dollar home typically has four bedrooms and is around 3,534 square feet on a half-acre lot. That’s a lot of space! The price per square foot is about $280, which is way less than in the Northeast. For example, you could snag a 3,400-square-foot home in Detroit for the same price as a much smaller place in Westchester County, NY.
Joel Berner, a senior economist at Realtor.com, points out that in the Midwest, $1 million feels more like a luxury than in other areas. Plus, if you’re looking for new construction, nearly 30% of million-dollar homes in the Midwest are brand new, giving you plenty of options.
Now, let’s talk about the Northeast. Here, a million bucks doesn’t stretch as far. You’re looking at about three bedrooms and 2,308 square feet on a 0.45-acre lot. Interestingly, the lots are bigger than in the West and South, but you’ll likely end up with a condo or townhome instead of a single-family house.
In Middletown, RI, for instance, you can find a 1950-built home with three bedrooms and two baths for a million. It’s got ocean views and is just waiting for someone to give it a makeover.
Moving down to the South, you can expect a home with three to four bedrooms and around 2,845 square feet on a 0.34-acre lot. The prices are lower here too, making it a good spot for your million. A luxury model home in Cape Coral, FL, offers four bedrooms, a gourmet kitchen, and a three-car garage for just under a million.
Finally, in the West, you’ll get a slightly bigger house than in the Northeast, but it’s still not as spacious as what you’d find in the Midwest. A typical home here has three to four bedrooms and is about 2,441 square feet on a quarter-acre lot. New builds are pretty rare, making up only about 16.6% of the market.
For a million bucks in Claremont, CA, you can grab a four-bedroom home with a pool and spa, but it’s still a far cry from the value you’d get in the Midwest.
