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Changes in where affluent buyers are choosing to invest in luxury properties reveals a shift in the top 10 luxury housing markets for Q1 2025.
According to Realtor.com’s Metro Ranking for Q1 2025, while traditional financial hubs like New York and Miami still hold appeal, the current top 10 emerging luxury housing markets for Q1 2025 show that homebuyers are increasingly looking beyond the usual hotspots to quieter retreats, rising coastal gems, and surprisingly affordable Midwest metros.
“The quarterly index analyzes key housing market data, as well as economic vitality and lifestyle metrics, for the 60 most-active luxury metropolitan areas in the U.S. The ranking aims to highlight housing markets that offer a high quality of life and are expected to see future home price appreciation. It identifies high-end markets worth adding to a house hunter’s shortlist—whether the goal is to live in it or rent it out.” Says the report.
From Santa Barbara’s picturesque coastline to the historic charm of Providence, Rhode Island, these emerging markets are capturing the attention of buyers seeking a blend of lifestyle, value, and potential appreciation.
Top 10 Emerging Luxury Housing Markets – Q1 2025:
- St. Louis, Missouri
- Detroit-Warren-Dearborn, Michigan
- Santa Maria-Santa Barbara, California
- Ogden-Clearfield, Utah
- Providence, Rhode Island
- Portland, Maine
- Asheville, North Carolina
- Minneapolis, Minnesota
- San Diego, California
- Prescott, Arizona
The top two spots on the list remain unchanged from Q4 of 2024. St. Louis, Missouri, and Detroit, Michigan lead the rankings—not for sky-high prices, but for their blend of affordability and long-term potential. In fact, these two Midwestern metros boast the lowest luxury home prices among all 60 cities in the index, proving that luxury living doesn’t always mean breaking the bank, according to the report.
“It’s an example of the bifurcation of the housing market,” says Hannah Jones, senior economic research analyst at Realtor.com. “Extremely affordable places are performing well and extremely unaffordable places are performing well.”
As we move deeper into 2025, Realtor.com expect continued interest in both ends of the spectrum: the highly attainable and the undeniably exclusive.
View the full Realtor.com report here.
Sources:
The Top 10 U.S. Luxury Markets Show Affluent Buyers Are Branching Out – Realtor.com
