Can you buy a mansion in St. Louis for less than $1 million?
ST. LOUIS -- While it may seem like a far-fetched reality for some, finding a mansion under $1 million may not be as unrealistic as many think. In order to find a mansion under $1 million, a new report found the top four markets across the country that provide that kind of opportunity.
According to Zillow, the median mansion is worth more than $1.4 million in the United States and over $4.5 million in four major California cities.
The report found that Buffalo, New York; Indianapolis, Indiana; Cleveland, Ohio; and Memphis, Tennessee are the top four markets in the U.S. where the median mansion costs less than $1 million.
How much is the median mansion value in St. Louis?
While these kinds of opportunities may not easily be found in the St. Louis region, Zillow reported the median mansion value to be $1,195,000 in the metropolitan area.
For those looking to buy a "starter" mansion, which is defined as an entry-level 5,000-square-foot home, in St. Louis, these are valued at $788,700 in median value.
Zillow found there were 4,827 mansions in the St. Louis area valued under $1 million, which made up 38.7 percent of the mansions across the region.
Across the United States, there are 415,117 mansions that are valued under $1 million, most of which were found in Atlanta, with 21,634 mansions, followed by New York City with 12,555 mansions, according to Zillow.