The housing market has soared in recent years, with the median home price now $467,700—which is up more than 38 percent from five years ago. But in some American neighborhoods, real estate has always come with a hefty price tag.
Recently, online lender CashNetUSA examined some of the priciest markets in the U.S. The net result: communities that require significant financial resources before one should even consider touring a property.
If you want to spend as much money on a home as possible, you might want to look at Manalapan, Florida. The tiny town in Palm Beach County (pop. 419) boasts an average home price of $39.7 million. That far exceeds even pricey Beverly Hills, California.
Part of Manalapan’s appeal is the geography: The area is nestled against the Intracoastal Waterway, offering both relative privacy and an amazing oasis-like view. It was incorporated in 1931 by Harold Sterling Vanderbilt and has remained an enclave for the ultra-wealthy: Manalapan’s residents have included Tony Robbins, attorney F. Lee Bailey, and musician Yanni.
On the other side of the spectrum sits Oxford, Mississippi, which has a median home price of roughly $593,000. Home to the University of Mississippi, the bucolic area has a vibrant music and arts scene and was once the home of author William Faulkner (As I Lay Dying).
Cumming, Iowa, and Horace Mann, North Dakota, are also (relatively) modest luxury burgs, with home prices in the $700,000 range. If all this seems outlandish, you can always check out more affordable housing markets. Wasau, Wisconsin has a median home price of $228,770, which is less than half of the national average.