Luxury Homes for Sale in the USA: Best Cities for Investors
Every city in the U.S. has what locals may refer to as luxury homes by virtue of being the most expensive. But internationally, luxury properties are identified mainly based on where they are located.
There are many reasons for buying a luxury home. For example, you may be in the market for a second home, or you're an investor and just want a piece of the U.S. real estate market. The luxury property choices in the USA are vast, and regardless of your needs, you will find a luxury home that suits you.
You can find the most stunning luxury homes for sale in the USA in the following cities.
Best Cities to Find Luxury Homes for Sale in the USA
New York
The most expensive luxury homes for sale in the USA are found mainly in large cities. New York comes highly recommended. Thanks to boroughs like Manhattan and Brooklyn, the city that never sleeps tops the list. In Manhattan, the median listing price is currently around 1.6 million dollars. Its cost per square foot is comparable to the average monthly mortgage payment in the country.
But it comes as no surprise when you consider that this city is home to the United Nations headquarters and Wall Street. Brooklyn has an average median listing of 730 thousand dollars and a square foot cost of 720 dollars. Brooklyn has a thriving art and tech scene in addition to its multi-ethnic and cultural face. When you buy luxury homes for sale here, you can be sure of a handsome return on your investment.
California
San Francisco is not far behind, with a median listing price of 1.3 million dollars and a cost of 1100 dollars per square foot. The economy of San Francisco is driven by tech, and some of the tech giants like Apple, Facebook, Intel, and Tesla have their headquarters here. Buying property here will make you a neighbor to some of the most famous billionaires.
San Jose, also in California, has impressive listings for luxury homes. The cost per square foot here is 610 dollars, and the median listing averages 925 thousand dollars, which is four times bigger than the national average. Tech innovators also fuel the city's economy. It has the highest cost of living in the entire country.
Another city in California that deserves mention here is Los Angeles, the City of Stars. Most of California is a seller's market, and you should consider investing here.
While there are many others on the list, some, like Bethesda, Maryland, though not an incorporated city, has an impressive average median listing of 1.2 million dollars. But it does border Washington, D.C. and hosts some federal institutions. You will be part of a thriving community should you decide to settle in Bethesda.
Others, like Boston, Massachusetts and Seattle, Washington, also have impressive luxury real estate portfolios. Most of these markets are out of reach for most average buyers. But that should not stop you from investing in the U.S. real estate market. The following are some affordable real estate markets where you can find luxury homes for sale in the USA.
Affordable Luxury Real Estate in the U.S.
To get a cheap luxury home of at least 5000 square feet, avoid large cities and the coastline. The South and the Midwest are your best bet. The construction cost here is not expensive, and the demand for housing is low. Snagging pretty large houses for less than a million in these areas is possible.
Dayton
You will find impressive homes built by industrial tycoons of yesteryears that are now up for sale at reasonable prices, considering their sizes. Some cities have classified them as historic mansions. Dayton, Ohio, with an average median price for a mansion of 629 thousand dollars, is one such place. Also, in south Dayton and Kettering, Ohio, you can get amazing deals on five- to seven-bedroom estates in the range of 400 to 600 thousand dollars.
Indianapolis
Another cheap luxury real estate location is Indianapolis in Indiana, with a median mansion price of 675 thousand dollars. Though not all of Indianapolis will be this affordable, the Herron-Morton Place neighborhood is one place where you can get sizable properties at a steal.
Atlanta
Atlanta, Georgia, can by no means be considered a struggling town, and you will find cheap luxury houses on the outskirts of the city. The median mansion price on the edge of Atlanta is 850 thousand dollars, but remember, this price is not available in all of Atlanta.
Small towns are excellent for raising a family. The crime rate is low, and you are only a few minutes away from the nearest city. Also, square space matters a lot, and most of the places with affordable luxury homes are in less populated smaller towns. Reports have also proved that the most secure areas in the U.S. are the small, less-populated towns.
Which Are the Safest Locations for an Average American Family?
Safest Cities in America
Safety, like health, is an essential factor when you are choosing a place to live. According to the Federal Bureau of Investigation data, the safest small city to live in is Rye in New York. This small town with a population of 15,692 is the youngest in New York state. You are only 36 minutes away from Grand Central Terminal while here. Number two is Broadview Heights in Ohio with 19,059 and Berkeley Heights in New Jersey with 13,371. Among the top twenty safest cities, New Jersey has nine, Ohio has four, and New York has three.
The City of Carmel, a suburb of Indianapolis in Indiana, is the safest mid-sized city. It has a population of 103,100 people. Your family will have a better quality of life in Carmel. It takes first among the safest mid-sized cities, with Sugar Land coming in second, while Cary, North Carolina, is third.
The safest large city you can stay in is Virginia Beach, Virginia. It has a population of 450,858. Three California cities made it to the top ten list of safest large cities. New York City also made it to the top ten with the largest population of 8,300,377 compared to others on the list.
Conclusion
The landscape of luxury homes for sale in the USA is diverse and caters to everyone on the spectrum, from high-end insanely expensive to affordable luxury homes on the lower end. Everyone can find an investment that suits them in the U.S. real estate market. Large cities usually have expensive luxury properties, while small upcoming or old industrial towns will have cheap ones.
