Dreaming of living in a posh penthouse with sweeping city views, or a sprawling estate tucked away in the mountains? At Listella, we believe everyone should have access to clear, helpful information—whether you’re buying or selling. That’s why our team crunched the numbers on the top 5% of listings in each state (i.e., the true “luxury tier”) to find out what it really costs to own a high-end home across America.
Below, we’ll walk you through our findings, explain how we arrived at each state’s “luxury threshold,” and give you practical tips on navigating the market—no matter your budget.
What Exactly Is ‘Luxury’—And How Did We Calculate It?
- Top 5% of Home Prices
We define “luxury” as the most expensive 5% of all active home listings in each state. This ensures our data captures the high-end segment of the market, as opposed to standard single-family residences or condos. - Average Pricing Within the Luxury Bracket
After identifying these top 5% of listings, our data team calculated the average listing price. This figure represents the luxury price threshold—the rough minimum you can expect to pay if you want to shop at the high end. - Monthly Payment and Income Needed
We based our calculations on:- A 20% down payment
- A 6.89% mortgage interest rate (the prevailing rate at the time of our analysis)
- The 30% rule (no more than 30% of a household’s monthly income going toward housing costs)
Note: Real estate is always evolving, and interest rates, property taxes, and local market conditions can change. Use these figures as a starting point, and always consult with a trusted financial advisor before making any major decisions.
Why Do Luxury Prices Vary So Wildly?
The cost of luxury isn’t simply about square footage; location, amenities, and exclusivity play significant roles:
- High-Demand Urban Centers: Areas like New York, Boston, or San Francisco command top dollar for prime city views, convenience, and cultural hubs.
- Scenic Settings: States known for beaches (Hawaii, Florida) or majestic landscapes (Colorado, Montana) can see a steep premium for that picture-perfect scenery.
- Local Economies & Land Availability: In places with a lower cost of living or plentiful land, luxury might be relatively more affordable—but you can still get some truly impressive properties.
A State-by-State Look at Luxury Home Costs
Below is a comprehensive snapshot of each state’s average luxury threshold, approximate monthly mortgage payment (not including taxes and insurance), and the estimated annual household income needed to comfortably manage that payment.
1. Alabama
- Luxury Threshold: $1,000,265
- Monthly Payment: $5,265
- Income Needed: $210,594
Overview: Known for its Southern hospitality and scenic rivers, Alabama’s luxury market often features waterfront properties on Lake Martin or Smith Lake, sprawling farmland estates, and a growing metropolitan scene in Birmingham and Huntsville.
2. Alaska
- Luxury Threshold: $1,149,838
- Monthly Payment: $6,052
- Income Needed: $242,085
Overview: The “Last Frontier” offers luxury cabins with breathtaking mountain or waterfront views. High-end properties here might include private fishing spots, wraparound decks, and easy access to outdoor activities like hiking, snowmobiling, or glacier tours.
3. Arizona
- Luxury Threshold: $2,096,414
- Monthly Payment: $11,034
- Income Needed: $441,375
Overview: Luxury in Arizona often means desert modern architecture, infinity pools overlooking scenic valleys, and close proximity to golf courses. Metro areas like Scottsdale and Paradise Valley lead the pack with contemporary mansions and resort-style amenities.
4. Arkansas
- Luxury Threshold: $965,022
- Monthly Payment: $5,079
- Income Needed: $203,174
Overview: From lakefront retreats in Hot Springs to modern homes in Little Rock, Arkansas luxury can be surprisingly affordable. Expect spacious land, tranquil wooded settings, and easy access to natural hot springs and hiking trails.
5. California
- Luxury Threshold: $4,045,290
- Monthly Payment: $21,292
- Income Needed: $851,687
Overview: The Golden State’s high-end market spans from coastal enclaves like Malibu and Newport Beach to tech-driven hubs near Silicon Valley. Properties often feature designer finishes, ocean or canyon views, and cutting-edge smart-home technology.
6. Colorado
- Luxury Threshold: $3,337,108
- Monthly Payment: $17,565
- Income Needed: $702,588
Overview: Rocky Mountain vistas, ski-in/ski-out chalets, and modern ranches dominate Colorado’s luxury offerings. Areas like Aspen, Vail, and Boulder appeal to buyers seeking both outdoor adventure and upscale amenities.
7. Connecticut
- Luxury Threshold: $3,605,344
- Monthly Payment: $18,977
- Income Needed: $759,062
Overview: Nestled between New York City and New England’s scenic coastline, Connecticut’s luxury homes offer expansive estates, historic Colonials, and lush green lawns—often with convenient train access to Manhattan.
8. Delaware
- Luxury Threshold: $1,278,526
- Monthly Payment: $6,729
- Income Needed: $269,178
Overview: With its low property taxes, Delaware’s luxury real estate includes beachfront homes along Rehoboth and Dewey Beaches, plus upscale residences in the northern part of the state near Wilmington, boasting suburban tranquility with easy interstate access.
9. Florida
- Luxury Threshold: $2,665,456
- Monthly Payment: $14,029
- Income Needed: $561,180
Overview: Florida’s luxury scene is all about waterfront living—oceanfront mansions in Miami Beach, sprawling Naples estates with golf course views, or private island communities in the Keys. Expect a blend of tropical outdoor spaces and lavish indoor features.
10. Georgia
- Luxury Threshold: $1,348,572
- Monthly Payment: $7,098
- Income Needed: $283,926
Overview: Luxury in Georgia often centers on the Atlanta metro area, featuring stately mansions in neighborhoods like Buckhead or Lake Lanier properties near the water. Grand brick facades, Southern porches, and expansive gardens are common.
11. Hawaii
- Luxury Threshold: $5,257,761
- Monthly Payment: $27,674
- Income Needed: $1,106,959
Overview: The ultimate in tropical luxury, Hawaii’s high-end properties can include private beach access, panoramic ocean views, and seamless indoor-outdoor living. Hot spots include Honolulu’s upscale condo market and oceanfront estates on Maui and Kauai.
12. Idaho
- Luxury Threshold: $2,503,317
- Monthly Payment: $13,176
- Income Needed: $527,043
Overview: Idaho’s luxury offerings often revolve around mountain views, riverfront access, and proximity to outdoor adventures. Places like Sun Valley boast ski lodges and ranches with contemporary rustic touches.
13. Illinois
- Luxury Threshold: $1,221,721
- Monthly Payment: $6,430
- Income Needed: $257,219
Overview: In Illinois, Chicago’s upscale condominiums and historic brownstones dominate the luxury market. Outside the city, you’ll find sprawling estates in suburbs like Winnetka or Lake Forest, featuring lakefront views and manicured grounds.
14. Indiana
- Luxury Threshold: $776,229
- Monthly Payment: $4,086
- Income Needed: $163,426
Overview: Indiana’s luxury segment includes elegant homes in Indianapolis suburbs like Carmel or Zionsville, often with generous square footage, modern finishes, and easy access to sports facilities and cultural amenities.
15. Iowa
- Luxury Threshold: $749,945
- Monthly Payment: $3,947
- Income Needed: $157,892
Overview: Known for its rolling fields, Iowa’s high-end properties can include large farmhouses, modern estates near Des Moines, and picturesque riverfront homes along the Mississippi. Often, luxury here means plenty of land and midwestern hospitality.
16. Kansas
- Luxury Threshold: $899,343
- Monthly Payment: $4,734
- Income Needed: $189,346
Overview: Kansas offers spacious suburban estates around Kansas City, Overland Park, and Wichita. Think sprawling ranch homes, well-appointed new builds, and established communities known for quality schools.
17. Kentucky
- Luxury Threshold: $824,401
- Monthly Payment: $4,339
- Income Needed: $173,568
Overview: Home of the Kentucky Derby, this state boasts luxury horse farms, historic estates, and access to the scenic beauty of the Bluegrass region. Louisville and Lexington lead the way with stylish mansions and equestrian properties.
18. Louisiana
- Luxury Threshold: $895,056
- Monthly Payment: $4,711
- Income Needed: $188,443
Overview: Louisiana’s luxury homes often embrace French Creole architecture, especially in the historic enclaves of New Orleans. Grand columns, balconies, and courtyards blend Southern charm with the city’s vibrant cultural scene.
19. Maine
- Luxury Threshold: $1,799,813
- Monthly Payment: $9,473
- Income Needed: $378,929
Overview: Coastal cottages and oceanfront estates define luxury in Maine. From historic homes in Portland’s West End to sprawling retreats along Penobscot Bay, properties often highlight rocky shorelines, lighthouses, and classic New England style.
20. Maryland
- Luxury Threshold: $1,299,121
- Monthly Payment: $6,838
- Income Needed: $273,514
Overview: In Maryland, high-end listings can be found near the Chesapeake Bay, featuring private docks and stunning water views. Upscale suburban enclaves around Baltimore and Bethesda also offer convenient commutes to D.C.
21. Massachusetts
- Luxury Threshold: $4,097,500
- Monthly Payment: $21,567
- Income Needed: $862,680
Overview: From storied brownstones in Boston’s Back Bay to lavish Cape Cod estates, Massachusetts offers a blend of historic charm and modern innovation. Waterfront living around Martha’s Vineyard or Nantucket is especially prized.
22. Michigan
- Luxury Threshold: $1,041,721
- Monthly Payment: $5,483
- Income Needed: $219,322
Overview: Michigan’s luxury market shines around the Great Lakes, with boating and water sports front and center. Upscale communities in Bloomfield Hills or Grosse Pointe feature classic brick mansions, while lakefront homes can offer private docks and beaches.
23. Minnesota
- Luxury Threshold: $1,295,648
- Monthly Payment: $6,820
- Income Needed: $272,783
Overview: Known as the “Land of 10,000 Lakes,” Minnesota’s upscale residences frequently showcase waterfront living or prime real estate in the Twin Cities of Minneapolis and St. Paul. Think large lots, modern open layouts, and close proximity to nature.
24. Mississippi
- Luxury Threshold: $795,405
- Monthly Payment: $4,187
- Income Needed: $167,463
Overview: Mississippi’s luxury offerings often feature antebellum mansions, coastal retreats near Biloxi or Gulfport, and charming historical homes with wraparound porches. Southern hospitality and slower-paced living add to the appeal.
25. Missouri
- Luxury Threshold: $913,737
- Monthly Payment: $4,809
- Income Needed: $192,376
Overview: In Missouri, you’ll find upscale properties in St. Louis’s West County or Kansas City’s ritzy neighborhoods like Mission Hills. Lake of the Ozarks is another luxury hot spot, boasting lakefront mansions with private docks.
26. Montana
- Luxury Threshold: $3,543,333
- Monthly Payment: $18,650
- Income Needed: $746,006
Overview: Big Sky Country delivers expansive ranches, secluded lodges, and breathtaking mountain vistas. Areas like Bozeman or Whitefish cater to buyers seeking pristine nature, outdoor sports, and upscale western architecture.
27. Nebraska
- Luxury Threshold: $854,563
- Monthly Payment: $4,498
- Income Needed: $179,918
Overview: Home to wide-open plains and a growing tech scene in Omaha, Nebraska’s luxury market includes spacious new builds and historic homes in established neighborhoods. Expect large yards, modern finishes, and friendly Midwestern charm.
28. Nevada
- Luxury Threshold: $2,387,824
- Monthly Payment: $12,568
- Income Needed: $502,728
Overview: Outside the bright lights of Las Vegas, high-end properties often feature desert contemporary designs, resort-style pools, and spectacular views of the Strip or surrounding mountains. Lake Tahoe also offers a thriving luxury scene with alpine estates.
29. New Hampshire
- Luxury Threshold: $1,700,453
- Monthly Payment: $8,950
- Income Needed: $358,010
Overview: Nestled in New England, New Hampshire showcases lakeside chalets, mountain retreats, and historic farmhouses. Luxury buyers often seek properties near Lake Winnipesaukee or scenic mountain vistas in the White Mountains region.
30. New Jersey
- Luxury Threshold: $2,593,534
- Monthly Payment: $13,651
- Income Needed: $546,038
Overview: New Jersey’s upscale market features grand estates in places like Alpine, Short Hills, and along the Gold Coast near the Hudson River. Many buyers appreciate the suburban feel combined with a short commute into Manhattan.
31. New Mexico
- Luxury Threshold: $1,484,889
- Monthly Payment: $7,816
- Income Needed: $312,626
Overview: From Santa Fe’s adobe-style mansions to Taos’s mountain retreats, New Mexico draws those who love desert landscapes, vibrant art scenes, and Southwest architecture—think kiva fireplaces, courtyards, and breathtaking sunset panoramas.
32. New York
- Luxury Threshold: $5,488,510
- Monthly Payment: $28,889
- Income Needed: $1,155,540
Overview: New York has it all—ultra-luxury Manhattan condos, sprawling estates in the Hamptons, and charming Hudson Valley farmhouses. Iconic city views, high-end amenities, and world-class culture keep demand (and prices) sky-high.
33. North Carolina
- Luxury Threshold: $1,472,359
- Monthly Payment: $7,750
- Income Needed: $309,988
Overview: From beachside retreats on the Outer Banks to mountain chalets near Asheville, North Carolina’s luxury offerings span a range of styles. Upscale Charlotte and Raleigh suburbs also provide elegant homes with Southern architecture.
34. North Dakota
- Luxury Threshold: $929,250
- Monthly Payment: $4,891
- Income Needed: $195,642
Overview: In North Dakota, luxury can mean modern homes in cities like Fargo or Bismarck, often featuring generous land, new construction, and a peaceful, small-town atmosphere with rapidly expanding economic opportunities.
35. Ohio
- Luxury Threshold: $848,210
- Monthly Payment: $4,465
- Income Needed: $178,580
Overview: Ohio’s high-end market tends to concentrate around Columbus, Cincinnati, and Cleveland. Upscale suburbs may boast historic Tudor or Colonial-style homes, modern new builds, and amenities like private clubs and golf courses.
36. Oklahoma
- Luxury Threshold: $949,154
- Monthly Payment: $4,996
- Income Needed: $199,833
Overview: Oklahoma’s luxury real estate ranges from contemporary estates in Oklahoma City and Tulsa to ranch-style properties with acres to roam. Expect open-concept living, custom finishes, and a welcoming community feel.
37. Oregon
- Luxury Threshold: $1,782,536
- Monthly Payment: $9,382
- Income Needed: $375,292
Overview: Oregon’s high-end homes might showcase lush Willamette Valley vineyards, modern city living in Portland, or Pacific Ocean vistas along the coast. Many properties emphasize eco-friendly designs and stunning natural views.
38. Pennsylvania
- Luxury Threshold: $1,142,884
- Monthly Payment: $6,016
- Income Needed: $240,621
Overview: In Pennsylvania, you’ll find grand Main Line estates near Philadelphia, historic Colonials in the suburbs, and mountain retreats in the Poconos. Large yards, rich history, and proximity to major cities are a draw.
39. Rhode Island
- Luxury Threshold: $2,995,000
- Monthly Payment: $15,764
- Income Needed: $630,561
Overview: America’s smallest state has a big reputation for luxury, especially in Newport, where Gilded Age mansions offer ocean views. Waterfront properties, private docks, and a strong sailing culture define Rhode Island’s upscale scene.
40. South Carolina
- Luxury Threshold: $1,453,195
- Monthly Payment: $7,649
- Income Needed: $305,953
Overview: Charleston’s historic homes, Hilton Head’s oceanfront retreats, and lakefront properties near Greenville all typify South Carolina’s luxury market. Southern charm meets modern convenience, often with golf courses and pristine beaches nearby.
41. South Dakota
- Luxury Threshold: $1,292,525
- Monthly Payment: $6,803
- Income Needed: $272,126
Overview: South Dakota might surprise you with its upscale log cabins and ranch homes—particularly around the Black Hills region. Think plenty of acreage, big skies, and a laid-back atmosphere close to nature.
42. Tennessee
- Luxury Threshold: $1,499,997
- Monthly Payment: $7,895
- Income Needed: $315,806
Overview: Tennessee’s luxury market includes the rolling hills of Franklin, waterfront homes along the Tennessee River, and modern estates in fast-growing Nashville. Music City’s cultural scene, plus no state income tax, keeps demand high.
43. Texas
- Luxury Threshold: $1,249,942
- Monthly Payment: $6,579
- Income Needed: $263,160
Overview: Known for “bigger is better,” Texas offers sprawling ranches, urban penthouses in Dallas or Houston, and Hill Country mansions near Austin. Large lots, modern amenities, and thriving local economies drive the Lone Star State’s luxury demand.
44. Utah
- Luxury Threshold: $2,918,795
- Monthly Payment: $15,363
- Income Needed: $614,517
Overview: Utah’s opulent listings are centered around Park City and Salt Lake City, boasting ski-in/ski-out lodges, sleek mountain modern homes, and panoramic valley or lake views. Outdoor recreation is a major selling point.
45. Vermont
- Luxury Threshold: $2,660,625
- Monthly Payment: $14,004
- Income Needed: $560,163
Overview: Vermont’s luxury landscape features cozy ski chalets, historic farmhouses, and lakeside mansions in towns like Stowe or Burlington. Rustic charm meets modern elegance, with plenty of outdoor adventures year-round.
46. Virginia
- Luxury Threshold: $1,579,387
- Monthly Payment: $8,313
- Income Needed: $332,521
Overview: From the DC suburbs in Northern Virginia to the horse farms of Middleburg or scenic Chesapeake Bay locales, Virginia caters to a wide range of high-end tastes. Historical estates, vineyard properties, and waterfront homes are prevalent.
47. Washington
- Luxury Threshold: $1,982,245
- Monthly Payment: $10,433
- Income Needed: $417,338
Overview: Pacific Northwest luxury includes sleek Seattle penthouses with Puget Sound views and quiet retreats on the San Juan Islands. Tech-driven wealth fuels demand for modern architecture, eco-friendly features, and proximity to outdoor recreation.
48. West Virginia
- Luxury Threshold: $749,648
- Monthly Payment: $3,946
- Income Needed: $157,829
Overview: Among the mountains and rolling hills, West Virginia’s luxury sector offers private cabins, estates with acreage, and sweeping vistas. Properties often include features like heated pools, orchards, and easy access to hiking or whitewater rafting.
49. Wisconsin
- Luxury Threshold: $1,093,312
- Monthly Payment: $5,755
- Income Needed: $230,184
Overview: Wisconsin’s upscale market shines along its many lakes, including Lake Geneva. Waterfront estates, modern farmhouses, and cozy retreats near popular outdoor spots make for relaxing luxury living.
50. Wyoming
- Luxury Threshold: $4,214,250
- Monthly Payment: $22,181
- Income Needed: $887,260
Overview: Wyoming draws luxury buyers seeking wide-open spaces, majestic mountain backdrops, and a sense of rugged independence. Jackson Hole is a standout, offering top-tier ski resorts, wildlife, and premium Western-inspired architecture.
What Luxury Looks Like Across the Nation
- Urban Opulence
Cities like New York or Chicago often feature penthouses with panoramic skyline views, 24-hour concierge service, and upscale shopping just steps away. - Coastal & Island Havens
Hawaii and parts of Florida might offer beachfront estates, infinity pools, and sun-soaked vistas of the ocean. - Mountain & Lake Retreats
States such as Colorado or Idaho can deliver high-altitude luxury chalets, log mansions, or lakefront lodges with jaw-dropping landscapes. - Historic & Country Charm
Areas like Virginia, Kentucky, or Maine might boast historic mansions, manicured gardens, horse stables, or orchard-filled acreage.
How to Use This Information (Buyers & Sellers)
For Buyers
- Know Your Financial Comfort Zone
- Check your credit, consider your down payment, and plan around the monthly payment you can handle. Don’t forget insurance, taxes, and potential HOA or maintenance fees.
- Focus Your Search
- Target the states and price ranges that align with your income and lifestyle preferences. If you need more space but want a lower price, consider exploring states where the luxury threshold is more affordable.
- Explore Creative Financing
- Luxury properties sometimes qualify for jumbo loans or specialized financing. Work with a knowledgeable lender to find options that suit your goals.
For Sellers
- Price Your Property Thoughtfully
- If your home falls in the top 5% price range, research comparable listings and recent sales in your area to determine a strategic listing price and consider getting a licensed appraisal.
- Highlight Unique Features
- Luxury buyers often pay a premium for amenities like gourmet kitchens, resort-style pools, or scenic views. Emphasize what sets your home apart.
- Reach the Right Audience
- Market your home using high-quality visuals and detailed descriptions. Professional photography, drone footage, and virtual tours can make your listing stand out.
Listella: Simplifying the Home Selling and Buying Experience
Whether you’re searching for a new construction penthouse or listing a centuries-old estate, Listella is here to make real estate easy and accessible:
- Transparent Fees & Easy Process
No hidden charges. No endless back-and-forth. Listella is all about clarity and convenience. - Personalized Property Searches
Filter listings by location, price range, and must-have features. Compare apples to apples, all in one place. - Direct Buyer to Seller Transactions
Cut out unnecessary fees. Communicate and negotiate directly, streamlining the entire process. Enjoy faster, more transparent transactions and retain greater control over your deal.
Ready to Explore?
From a cozy, high-end condo in the city to a sprawling estate out in the country, now you know what kind of budget to expect—and the salary you might need—to purchase a luxury property in any state.
Visit Listella.com and let’s get you one step closer to living the life you’ve always imagined—wherever you call home. And if you have questions, reach out! We’d love to hear from you!
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