Of the 40 states and the District of Columbia where we are licensed, Hawaii has the largest share of homes valued at 1,000,000 dollars or more: about 35.2 of every 100 owner-occupied homes. The District of Columbia, at about 30.5, and California, at about 29.6, come next. Mississippi has the smallest share, about 0.9, followed by Iowa at about 1.1 and Indiana at about 1.2. The national figure is about 7.1.
I put this table together for people buying or owning in higher-priced markets who want to know how common a million-dollar home is where they live. A jumbo loan is a home loan for a higher-priced home, larger than the conforming limit set each year for the county; because the agencies do not buy it, each jumbo program writes its own rules.
The table: 40 states and the District of Columbia
“Per 100” means out of every 100 owner-occupied homes in the state. The margin of error is the Census Bureau’s, at 90 in 100 confidence. The last column counts homes valued at 2,000,000 dollars or more, the highest group the Census publishes.
| State | Homes valued at 1,000,000 dollars or more, per 100 | Margin of error, per 100 | Homes valued at 1,000,000 dollars or more | Valued at 2,000,000 dollars or more, per 100 |
|---|---|---|---|---|
| Hawaii | 35.2 | 0.6 | 109,217 | 6.0 |
| District of Columbia | 30.5 | 0.8 | 41,014 | 5.4 |
| California | 29.6 | under 0.1 | 2,239,418 | 8.2 |
| Washington | 15.9 | 0.2 | 311,586 | 3.0 |
| Massachusetts | 13.7 | 0.2 | 238,328 | 2.9 |
| Colorado | 11.1 | 0.2 | 174,977 | 2.3 |
| New Jersey | 7.6 | 0.1 | 169,743 | 1.3 |
| Utah | 7.5 | 0.2 | 59,594 | 1.6 |
| Virginia | 7.2 | 0.1 | 164,268 | 1.1 |
| Montana | 7.0 | 0.3 | 22,139 | 1.7 |
| Connecticut | 6.8 | 0.2 | 65,054 | 2.4 |
| Oregon | 6.8 | 0.2 | 74,015 | 1.1 |
| Maryland | 6.0 | 0.1 | 95,191 | 1.1 |
| Florida | 5.9 | 0.1 | 350,856 | 1.9 |
| Idaho | 5.8 | 0.2 | 30,079 | 1.1 |
| Nevada | 5.7 | 0.2 | 40,840 | 1.4 |
| Arizona | 5.6 | 0.1 | 107,787 | 1.3 |
| New Hampshire | 4.1 | 0.2 | 16,604 | 1.0 |
| Tennessee | 3.8 | 0.1 | 72,516 | 0.9 |
| Texas | 3.7 | 0.1 | 256,990 | 0.9 |
| South Carolina | 3.7 | 0.1 | 56,665 | 1.0 |
| North Carolina | 3.3 | 0.1 | 95,468 | 0.7 |
| Georgia | 3.3 | 0.1 | 87,539 | 0.7 |
| Delaware | 2.8 | 0.2 | 8,155 | 0.7 |
| Illinois | 2.7 | 0.1 | 92,850 | 0.7 |
| Minnesota | 2.6 | 0.1 | 42,663 | 0.6 |
| New Mexico | 2.4 | 0.1 | 14,081 | 0.6 |
| Pennsylvania | 2.1 | 0.1 | 77,389 | 0.5 |
| Alaska | 1.9 | 0.2 | 3,469 | 0.4 |
| Alabama | 1.7 | 0.1 | 23,701 | 0.4 |
| Wisconsin | 1.7 | 0.1 | 28,084 | 0.4 |
| Michigan | 1.6 | 0.1 | 48,566 | 0.4 |
| Louisiana | 1.5 | 0.1 | 18,162 | 0.4 |
| Kansas | 1.5 | 0.1 | 11,732 | 0.3 |
| Oklahoma | 1.4 | 0.1 | 14,535 | 0.4 |
| Arkansas | 1.4 | 0.1 | 11,183 | 0.3 |
| Kentucky | 1.2 | 0.1 | 15,114 | 0.3 |
| Ohio | 1.2 | under 0.1 | 38,383 | 0.3 |
| Indiana | 1.2 | 0.1 | 22,269 | 0.3 |
| Iowa | 1.1 | 0.1 | 10,368 | 0.3 |
| Mississippi | 0.9 | 0.1 | 7,571 | 0.3 |
| United States, national figure | 7.1 | under 0.1 | 5,985,962 | 1.8 |
Source: U.S. Census Bureau, American Community Survey 5-year estimates, 2020-2024, table B25075, read from data.census.gov on November 5, 2026. Shares and margins worked out by Fidelity Residential.
How the figures were worked out
- Per 100: homes valued from 1,000,000 to 1,499,999 dollars, from 1,500,000 to 1,999,999 dollars and at 2,000,000 dollars or more, added together and divided by all owner-occupied homes, times 100.
- Margins of error: from the Census Bureau’s own margins and its formulas for sums and proportions, so they are approximations.
- Homes: owner-occupied housing units, which are homes lived in by their owners.
What it can and cannot tell you
- Five-year averages. These estimates pool 2020 to 2024, not today, and home values may have moved since.
- Value is the owner’s estimate. The Census asks owners what they think the home would sell for. It is not an appraisal or a sale price.
- A million-dollar home does not always need a jumbo loan. A loan is jumbo when it is larger than the conforming limit for the county, so it depends on the loan amount, not on the home’s value alone.
- Small places are less certain. In Hawaii and the District of Columbia the margin is about 0.6 to 0.8 in 100; in every other row it is under 0.4.
What the table shows
- Six places reach 10 in 100. Hawaii, the District of Columbia, California, Washington, Massachusetts and Colorado each have at least 10 in every 100 owner-occupied homes valued at 1,000,000 dollars or more.
- The smallest shares are in the Midwest and the South. Mississippi, Iowa, Indiana, Ohio and Kentucky are at about 1.2 in 100 or below.
- Above and below the nation. Eight of the 41 are above the national figure of about 7.1 by more than their margins of error, and 31 are below it. Virginia and Montana are within their margins of it.
- Counted in homes, California has the most (about 2.24 million), then Florida (about 351,000) and Washington (about 312,000), of about 5.99 million in the country.
- New Jersey is seventh at about 7.6 in 100, about 170,000 homes, level with Utah within the margins and above the national figure. About 1.3 in 100 New Jersey homes are valued at 2,000,000 dollars or more.
What it means if you are buying or owning
If you are buying or refinancing a higher-priced home, our page on jumbo loans explains what jumbo programs look for and what to gather. Our page on jumbo vs conforming loans compares the two, and New Jersey buyers can read our page on jumbo loans in New Jersey.
Frequently asked questions
Why does the table show 40 states and the District of Columbia?
Fidelity Residential is licensed in 40 states and the District of Columbia, and the table covers those. The national figure covers the whole country.
Does a home valued at 1,000,000 dollars or more need a jumbo loan?
Not always. A conforming loan is a conventional loan up to the conforming limit set each year for the county and the number of units. A jumbo loan is larger than that limit, so whether a loan is jumbo depends on the loan amount and the county, not on the home’s value alone.
Which homes does the table count?
Owner-occupied homes: homes lived in by the people who own them, with or without a mortgage. Rented and empty homes are not counted, and each value is the owner’s own estimate.
Sources
- U.S. Census Bureau, American Community Survey 5-year estimates, 2020-2024, table B25075, Value, states (opens in a new tab), accessed November 5, 2026.
- U.S. Census Bureau, American Community Survey 5-year estimates, 2020-2024, table B25075, Value, United States (opens in a new tab), accessed November 5, 2026.
- U.S. Census Bureau, Understanding and Using American Community Survey Data: What All Data Users Need to Know (chapter on margins of error for derived estimates) (opens in a new tab), accessed November 5, 2026.
- U.S. Census Bureau, American Community Survey and Puerto Rico Community Survey 2024 Subject Definitions (Value) (opens in a new tab), accessed November 5, 2026.
Facts from these sources are stated in our own words. Last reviewed .
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