Remember when a million dollars sounded like the ultimate “I’ve made it” flex? Yeah… about that. In 2025, that dream-home money might barely get you a starter house with a leaky roof and laminate floors in some of the world’s hottest markets. We’re talking bidding wars where cash buyers reign, condos with monthly fees that feel like a second rent, and “starter homes” that are really just starter projects. Whether you’re house-hunting in Silicon Valley or scoping out skyline views in Asia, your million-dollar budget won’t take you nearly as far as it used to—and in some places, it barely gets you through the front door.
So if you’re sitting on seven figures and feeling house-rich, don’t get too comfy just yet. From sun-soaked cities to global finance capitals, here are 14 places where $1 million buys you… well, not much. Let’s take a tour through the wildest markets where you’ll be whispering “this better come with a ghost chef” while touring a 900-square-foot shoebox.
1. Singapore
Singapore’s red-hot property scene shows no mercy: private residential prices ticked up 0.8% in Q1 2025 alone, with median costs hovering around USD 915,600 for a non-landed condo, according to Global Property Guide. Government cooling measures and hefty stamp duties can only do so much when global investors and local elites compete for limited supply. Starter homes in neighborhoods like Toa Payoh now require at least $1 million to even get in the game—often with a front-gate view of the expressway. And if you’ve got your eye on sought-after districts like District 15, scratch another $500k onto that figure. Navigating HDB vs. private market options is half the battle; landing a spot in an Executive Condominium still means shelling out a hefty sum.
To maximize bang for your buck, explore fringe areas like Woodlands or consider smaller units in up-and-coming mixed-use developments. Just be ready to sacrifice square footage for that coveted postcode.
2. San Francisco, CA
The Bay Area’s love affair with sky-high valuations continues unabated. In San Francisco proper, the average home value recently ticked over $1.31 million, according to Zillow—so that million-dollar mark only scratches the surface of what it takes to secure a bungalow in the fog. With tech giants expanding and remote workers snapping up homes sight unseen, competition is as fierce as a Warriors playoff run. Even the most modest “starter” homes in neighborhoods like Outer Sunset or Bernal Heights often command offers well above asking in mere days, thanks to a persistent inventory drought and historically low mortgage rates. And let’s be real: if your budget bottoms out at $1 million, you’re probably looking at fixer-uppers or micro-units that double as yoga studios. Factor in property taxes that rival a solid mid-six-figure salary, and you quickly realize that a million dollars in SF is the new “barely enough.” But hey, at least you get Michelin-starred sourdough and world-class views in exchange, right?
Location hacks exist—think Daly City or South San Francisco—but even those suburbs now hover around the $1.25 million mark. And if you want to commute on Caltrain or BART, get ready for another monthly bill that’ll make student loans look trivial. So unless you’ve got a Silicon Valley windfall, San Francisco might be more of a dream than a realistic first home. Still want to play the game? Get pre-approved, pack your patience, and keep your champagne flute full—because this real-estate rodeo ain’t for the faint of heart.
3. Manhattan, New York, NY
In the city that never sleeps (and apparently never lowers home prices), a median sale in Manhattan rings in at about $1.2 million, per PropertyShark—proof that your million-dollar dreams may end at the borough line. Condos in up-and-coming pockets like Inwood or Harlem might flirt with that threshold, but in hot zones like Chelsea or Midtown, you’re looking at multiple millions before you even unpack. Buyers face co-op boards that could grill you more intensely than a summer backyard BBQ, plus maintenance fees that sometimes top $2,000 a month. Commuting is non-existent (subways run till 2 a.m., baby!), but you’ll trade closet space for corner views and the kind of nightlife that defines pop culture. And if you’re hoping for a big backyard, you might have to settle for a rooftop deck shared with 50 neighbors. So yes, that seven-figure check may qualify you for some listings—but prepare for fierce bidding wars fueled by hedge fund managers, international investors, and folks who consider central-line coffee runs a basic human right.
Still undaunted? Do your homework on co-op vs. condo quirks, lock in your financing early (cash is king), and brace for sticker shock at every open house. You might end up with a charming 500-square-foot studio in the East Village—complete with neighborly rat serenades—but hey, at least you’re home.
4. San Jose, CA
Welcome to the capital of “you’re too late to the gold rush.” In San Jose, starter homes now average around $1.53 million, according to CBS News, making that $1 million down payment look more like a generous tip than a house purchase. Tech engineers and VCs have gobbled up anything that moves, pushing prices through the roof—and into the stratosphere. Even in farther-flung suburbs like Morgan Hill, median sale prices flirt with $1.4 million as families hunt for more space. Local schools get rave reviews, but so does the commuting anxiety when traffic on Highway 101 turns your morning drive into a reality show. If you’re lucky, you snag a smaller bungalow with a yard the size of a postage stamp, perfect for your single succulents and two cats. But make no mistake: in a market that moves at warp speed, a million-dollar budget will land you a “starter” place that barely starts.
So what’s the strategy? Consider condos or townhomes, look at Cupertino-adjacent towns where prices dip slightly, and keep your resume updated—because in Silicon Valley, career progression is your best investment plan.
5. Los Angeles, CA
From Beverly Hills to Venice Beach, L.A. real estate is a lesson in extremes—and the median sold price in April 2025 landed at about $896,500, making a full million feel borderline entry-level, reports Rocket. Yes, some zip codes like Pacific Palisades or Malibu hover well above $3 million, but even “affordable” pockets like East L.A. and parts of the Valley now breach the high six figures with alarming ease. And if you’re chasing a single-family home with a backyard, budget for at least $1.1 million in neighborhoods like Culver City or Burbank. Traffic is legendary (hello, 405 at 5 p.m.), so many buyers also factor in extra cars, rideshares, or working-from-home setups. Yet, L.A.’s allure—year-round sunshine, vibrant food scenes, and that iconic palm-tree skyline—keeps demand hotter than a July block party. So if you’ve got $1 million to play with, expect to snag a modest bungalow or a sleek condo near downtown’s revival districts. Just don’t expect to stretch it much further without tears—or a side hustle.
Pro tip: explore up-and-coming neighborhoods like Highland Park or Long Beach for slightly lower sticker prices and authentic local vibes—just be prepared to swap celebrity spotting for artisanal coffee roasters.
6. Honolulu, HI
Aloha, homebuyers—where even paradise has a price tag. Honolulu’s median home price hit $1.16 million in Q1 2025, locking out many local families, per the New York Post. With limited land on OÊ»ahu and a constant flood of out-of-state buyers chasing island vibes, starter homes have become mythical creatures—lucky to exist and priced for yachts. The tropical climate and beaches are unbeatable, but so are property taxes, hurricane insurance, and utility costs that make mainland bills look like bargain bin finds. Condos near WaikÄ«kÄ« still dip below the million mark, but they often come with maintenance fees that rival rent. And if you crave land, expect to shell out at least $1.2 million for a fixer-upper in the suburbs. So while $1 million can open the door in Hawaii, it often leaves you squinting at negotiation sheets.
For the intrepid buyer: look toward Ewa Beach or Kapolei for slightly lower price points, and consider leasehold vs. fee simple options carefully—your future resale hinges on it.
7. Hong Kong
In Hong Kong, the word “affordable” is basically a joke. Average property prices have surged to roughly USD 1.25 million—keeping Hong Kong firmly atop global unaffordability charts. Sky-high demand, scant land, and a flood of foreign capital mean that even tiny one-bed units go for well over $1 million, with prices per square foot rivaling luxury yachts. Neighborhood heat maps light up from Central to Tsim Sha Tsui, where a shoebox pad is more of an investment asset than a home. The government’s cooling measures wobble under speculative mania, and mass transit is efficient—but you’ll still need deep pockets to call this skyline home.
If you’re dreaming of harbor views, expect to pay through the nose; if you settle for New Territories, you’ll trade convenience for slightly kinder price tags. Either way, your million-dollar check gets you a foot in the door—provided that door is the size of a broom closet.
8. Vancouver, Canada
Canada’s west coast has felt the squeeze too: Greater Vancouver’s average home price recently clocked in at $1.21 million, turning million-dollar budgets into mere down payments. Detached homes in the Lower Mainland soar above $2 million, but even condos now breach the $800k–$900k range in trendy areas like Mount Pleasant or Yaletown. With Canadian mortgage stress tests and foreign buyer taxes in place, locals still struggle to snag anything close to $1 million—and out-of-province buyers eye Vancouver as a safe haven currency play. Still, the city’s stunning mountain-meets-ocean backdrop keeps interest sky-high, meaning those with $1 million must either compromise on size or commute from the suburbs.
Think about townhomes in Burnaby or co-living spaces downtown, and never underestimate the power of a sibling co-purchase in splitting the tab.
9. Tokyo, Japan
Tokyo’s residential property price index jumped over 10.7% year-over-year in early 2025, making the city one of Asia’s priciest capitals. Even modest one-bedroom condos in the 23 wards start north of USD 455,000—and that’s for the smallest units. Step up to two- or three-bedrooms, and you’re easily past the million-dollar threshold, especially in hotspots like Minato, Shibuya, or Meguro. Space is at a premium, so blend living, dining, and sleeping areas into one chic micro-flat if you don’t want to liquidate your life savings. Tokyo’s transport is flawless, and culinary scenes are world-class, but your budget will dictate whether you live in suburban sprawl or high-rise luxe.
Pro tip: yen weakness can slightly sweeten deals for foreign buyers, but competition from domestic investors remains fierce—act fast, and pack light.
10. Zurich, Switzerland
Switzerland’s financial heart punches above its weight, with apartment transaction prices in Zurich reaching CHF 21,050 (USD 24,460) per square meter in 2024—easily pushing starter-home costs over USD 1 million. Outer city zones like Oerlikon or Schwamendingen may dip into the highâ€six-figure range, but prime districts such as Seefeld or Kreis 1 require multi-million-dollar investments. Add Swiss stability, low taxes, and impeccable public services, and it’s no wonder wealthy expats flock here, driving local starter homes out of reach.
If you’re game, consider smaller flats or co-ops on the city fringes—but know that the Swiss mindset values space, precision, and punctuality as much as they value their pocketbooks.
11. Sydney, Australia
Down under, the Harbour City’s charm comes at a cost: entry-level homes in suburbs like Parramatta or Hurstville hover around AUD 1.1 million (roughly USD 750k–800k), while single-family homes closer to the CBD start at AUD 1.5 million. Add auction-style sales, buyer premiums, and fierce competition from both locals and holiday-home hunters, and a $1 million budget will leave you eying cookie-cutter townhouses or inner-city studios. But hey, those Bondi sunsets and coffee-culture vibes are worth it, right?
If you’re serious, look west to suburbs like Liverpool or northwest to areas like Blacktown—where that seven-figure budget can stretch farther. Just be prepared for a longer commute and the occasional kangaroo sighting in the backyard.
12. Central London, UK
Across the pond, London’s core is equally brutal: median prices in boroughs like Westminster, Kensington & Chelsea, and Camden hover above GBP 1.2 million (about USD 1.5 million). Even zones 3–4 catch double-digit auction bids from international investors, pushing three-bed terraces well past the million-pound mark. So if you’re wielding USD 1 million, you may snag a modest flat in Peckham or a fixer-upper maisonette near the Thames—but don’t expect marble bathtubs or stained-glass windows.
To eke out value, explore up-and-coming East London locales like Walthamstow or rent-to-own schemes; you’ll trade period charm for potential upside.
13. Geneva, Switzerland
Geneva’s global-city status and proximity to international organizations drive apartment prices north of CHF 20,000 per square meter, making USD 1 million homes about 50 sqm—think tiny but impeccably finished. Lake views and French Alps panoramas come at a premium, and rental yields flirt with payback periods that test investors’ patience. So while your million-dollar check qualifies you for a lakeside pied-à-terre, local taxes and co-ownership fees will keep you on your toes.
For more breathing room, check out nearby commuter towns like Annemasse (France) or Nyon (Switzerland), where budgets go a bit further—and baguette runs are just as charming.
14. Cambridge, MA, USA
Finally, the cradle of academic prestige is no bargain: starter homes near Harvard Square or Kendall Square break the million-dollar barrier thanks to tech influx from MIT and biotech firms. Modest three-bed Cape Cods in surrounding towns like Somerville or Watertown hover between USD 900k–1.2 million, and bungalows closer in command easy seven-figure sums. Expect bidding wars, appraisal gaps, and buyers prone to cancel offers sight unseen.
If you’re hunting value, look south to Quincy or west to Framingham—where commuter rail and highway access let your budget breathe. Just don’t expect to leave your alma mater—or your mortgage—behind.
This article is for informational purposes only and should not be construed as financial advice. Consult a financial professional before making investment or other financial decisions. The author and publisher make no warranties of any kind.
