In 2019 a 28,000 sq ft penthouse apartment in New York City sold for a record $240 million. This led PropertyShark – an organization that covers real estate market trends, research reports, market studies, and company and industry news – to do a study on the 2022 housing market to see how many houses could be bought for that price.

PropertyShark studied 335 cities with a minimum population of 100,000 to see how many houses could be purchased for $240 million and measured the median sale price of houses. Omaha, which has a current median price of $177,700, averaged 1,350 houses for that million-dollar price tag. Lincoln, which has a median price of $193,800, averaged 1,238. These are on par for the Midwest, which the study found to have the most “budget-friendly home price trends”, with seven of the top ten homes you could buy for $240 million.

Their study found that the highest number of houses you could buy for that price; 4,158; from Detroit, MI, which currently has a median price of $57,000. The most expensive, however, was found in Sunnyvale, CA which has houses running for around $1.5 million, and could only buy 156 houses for that rate.

For more information about PropertyShark’s study, you can go to propertyshark.com/Real-Estate-Reports/2023/05/17/how-many-homes-can-you-buy-in-the-us-for-the-price-of-nyc-s-most-expensive-condo/.