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San Francisco has the highest share of homes worth $1 million or more in the US

A "For Sale" sign adorns the front yard of a Victorian-style home along Guerrero Street in San Francisco, Monday, June 24, 2002. California's housing market remained red hot in May as home prices in both the San Francisco Bay area and Southern California hit new highs, with a mid-priced home in the Bay Area selling at $413,000 and a mid-priced home in Southern California going at $264,000. (AP Photo/Julie Jacobson)
AP Photo/Julie Jacobson
Good luck.
By Alice Truong
Published Last updated This article is more than 2 years old.

Not that you needed more proof that San Francisco’s housing market is insane, but new data show the city has the highest share of million-dollar homes in the US.

In San Francisco, 63% of homes are worth at least $1 million, according to home-listing site Trulia, which included properties not currently for sale in its analysis. Overall, 58% of homes in the San Francisco Bay Area metropolitan area are valued at seven figures or more, according to the company.

It was only in March of this year that San Francisco crossed a tipping point where the majority of homes were worth at least $1 million. Just five years ago, only a quarter of homes were valued that much.

The density of $1 million-plus homes is especially pronounced in the city’s residential neighborhoods, where there are more single-family homes, including the Inner Sunset (96% of homes in the area are worth at least $1 million), the Richmond (96%), and Noe Valley (95%).

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