03:45 PM EDT, 06/11/2025 (MT Newswires) -- Detroit was the most affordable US metro for purchasing a luxury home in April, while San Francisco was the most expensive, according to a Redfin (RDFN) report released Wednesday.

The median price for a luxury home in Detroit was $753,851 in April, roughly 44% less than the national average for that property type. The typical luxury home in San Francisco sold for about $6.1 million, according to the real estate brokerage.

Redfin defines luxury homes as those estimated to be in the top 5% of their respective metro area based on prices of homes sold over a rolling 12-month period.

Detroit is one of the seven metros where a luxury home can be bought for less than $1 million. The other six are Cleveland, Pittsburgh, Indianapolis, St. Louis, Cincinnati, and San Antonio.

The top three metros on that list were also the most affordable home-buying US metros overall in April, according to the report.

"The Rust Belt's relative affordability has preserved opportunities for luxury buyers that have all but disappeared in much of the country," Redfin Senior Economist Sheharyar Bokhari said. "These metros haven't seen as much explosive investor demand or speculative buying, which has helped keep prices grounded."

The list of major metros with the most expensive luxury homes included San Jose and Anaheim in California, Miami, and New York, the report showed.

The number of major metros where a luxury home can still be purchased for under $1 million has shrunk from 30 since 2020 as COVID-19 pandemic-related buying spree accelerated price growth across all tiers, including luxury homes, Redfin said.

Price: 10.67, Change: +0.40, Percent Change: +3.95