Last week, Zillow published research that identified four large metro areas where you can still pick up a mansion for less than $1 million. It defines "mansion" as a home with at least 5,000 square feet of finished living space. So, a mansion for a million dollars remains a possibility, even in cities where you might like to live.
If you haven't been paying attention to the housing market, this might not surprise you. Just four years ago, nearly half of all mansions nationwide were listed at under $1 million. Now, it's fewer than one in three. And many of those are in rural or less desirable locations. The median price across all mansions was $1.4 million in June 2025, according to Zillow.
"Affordable" Mansions
The four large metro areas where you can still find a median-priced mansion for a million are:
- Buffalo ($825,500 median price; $500,000 for a "starter mansion")
- Indianapolis ($965,500)
- Cleveland ($995,200)
- Memphis ($996,700)
"In the Midwest and parts of the South, relative bargains are available for buyers dreaming of space and status with a smaller price tag," says Zillow. "In addition to the four metros where most mansions are under $1 million, mansions are less expensive than elsewhere in places like Cincinnati ($1 million), Louisville ($1 million) and Birmingham ($1.1 million)."
You'll be lucky to find such an affordable mansion in California's metro areas. In San Jose, the median price for one is $6.5 million, and other desirable big cities in the state have median prices ranging from $4.6 million up. Mansions in places like Miami, Seattle and Phoenix come in either side of $3 million.
Atlanta is the home of the affordable mansion, containing 5% of all such properties under $1 million nationwide. Perhaps surprisingly, the New York City metro area also has plenty, along with Indianapolis, Washington, D.C. and Chicago. The median mansion price in those places is higher than $1 million, but there are plenty of bargains there.
Realistic Expectations
Keep your expectations in check if you're tempted by the idea of a mansion for a million dollars. You may get a big house for that money, but you're unlikely to find glossy-magazine editors forming a line to photograph it.
Earlier today, we checked the Realtor.com website for mansions in Los Angeles, and the most expensive was $177,000,000. There were seven listed for more than $100,000,000. In New York City, there's an 11,480 square-foot condo on 57th Street for $110,000,000. They're the ones likely to feature in style mags.
Bigger Home Means Bigger Maintenance Costs
Many of us fantasize about owning a large home with tons of space to indulge our hobbies and whims. And some have sufficient resources to buy a mansion for a million.
But the purchase price is just the start. Living in a big home brings bigger bills than you're used to because costs are typically higher for:
- Property taxes
- Homeowners insurance
- Heating and cooling a large volume of living space
- Domestic help, unless you're willing to spend almost every waking moment cleaning and maybe doing yard work
- Repairs and maintenance
Meanwhile, depending on where you buy and the purchase price, you may need a jumbo mortgage. Mainstream mortgages cap the amount you can borrow: generally at $806,500 in 2025, but up to $1,209,750 in places where the median home price is unusually high.
If you need more than that, you'll likely need a jumbo loan. Those come with a slightly higher mortgage rate than most loans charge, and they're more difficult to get. They often require a minimum 10% down payment, a high credit score, and proof that you can comfortably afford the monthly payments.
Still want a mansion for a million? Go for it!
