St. Louis Reclaims Its Crown as America’s Top Luxury Housing Market

A low cost of living and a more affordable route to a luxury lifestyle has helped St. Louis reclaim the top spot in the latest Wall Street Journal/Realtor.com Luxury Housing Market Ranking.  

The Midwest metro climbed from No. 12 last quarter, buoyed by strong buyer demand, low climate risk and the lowest cost of living of any of the 60 markets analyzed in the third quarter report, released Thursday. It last topped the ranking in summer 2025.

St. Louis knocked Pittsfield, Massachusetts, from the top spot, and in turn, the Berkshires metro slipped to fifth place. Rounding out the top performers were Charlottesville, Virginia, ranked second; followed by Portland, Maine, and Connecticut’s Bridgeport metro area in third and fourth.

The quarter’s results point to “a return to fundamentals,” the report said, with active buyer demand, a steady pace of sales and low exposure to climate risk helping markets climb the ranking. 

The index analyzes key housing market data, as well as economic vitality and lifestyle metrics, for 60 metropolitan areas in the U.S. with substantial luxury segments, and identifies markets that those considering a high-end home purchase should add to their shortlist—whether the goal is to live in it or rent it out.  

In St. Louis, the appeal starts with the price tag. 

Besides having the lowest cost of living in the ranking, the city’s luxury real estate  starts at a very appealing entry point. 

“You’re able to really get a lot more for your money there,” said Anthony Smith, senior economist at Realtor.com. 

In St. Louis, the threshold for luxury homes—defined as the most expensive 10% of listings—stood at roughly $671,000 in September, well below the national benchmark of about $1.2 million. Even entry into the very top of the market, encompassing the most expensive 5% of homes, came in at just under $900,000.

“That affordability aspect is huge,” Smith said, and it’s something that’s likely to help fuel the popularity of other metros going forward.

“I think you’ll start to see more of a rise of what we call ‘refuge markets,’ where folks can get more for their money especially in the climate of higher mortgage rates,” he said.

While luxury buyers “are often assumed to be purchasing without a mortgage, higher borrowing costs can still factor into their decisions,” Smith said. “Luxury comes in all shapes and sizes.”  

In Charlottesville, which reached second place in its sixth consecutive quarter in the top 10, the appeal is less about price.

“It does have a pricier entry point to luxury at $1.3 million, just over the national level, but [Charlottesville] still has quite a few strong points that folks are going to be drawn to,” Smith explained. 

Its low unemployment rate, below-average cost of living and low climate risk helped underpin its performance.

Portland, meanwhile, leapfrogged 24 places to No. 3. The Maine metro has a healthy local economy and active buyer interest, according to the report. Luxury prices there have cooled, with the 90th percentile starting at $1.6 million as of September, down 9.4% year over year. 

Connecticut’s Bridgeport-Stamford-Danbury metro, which encompasses affluent Greenwich, jumped from No. 25 to No. 4.

The area is “in a league of its own in terms of price point and what it has to offer,” Smith said. Its luxury threshold stood at roughly $3.6 million, down 15.6% from a year earlier, but still the most expensive market in the top 10.

“Demand [in the metro] is strong, and supply is pretty good,” Smith said. 

One drawback, however, is the commute. With many residents traveling to New York City for work, it ranked 55th out of the 60 markets for commute times, Smith explained.

Pittsfield, last quarter’s winner, still leads in amenities and commute times, but a slower market contributed to its slide down the ranking, according to the report. 

Million-dollar homes in the metro area spent a median of 108 days on the market, about a month longer than the same time last year and the longest stretch among the top 10.

Detroit ranked sixth, followed by Salt Lake City; San Diego; Provo, Utah; and Atlanta.

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