What $1 million of LA home equity buys in 12 cities
In LA, $1 million covers about 1,700 square feet at the typical price per foot. In some of the most popular destinations for Angelenos, it covers more than twice that.
A lot of LA homeowners have built up serious equity, and one of the first things people want to know when they think about leaving is simple: what would that money get me somewhere else?
Here's a straightforward way to look at it. Take $1 million in cash and divide it by the median price per square foot in each city. It's a rough yardstick, not a shopping list, but it makes the differences easy to see.
The comparison
| Market | Median $/sq ft | Sq ft for $1M | Median home |
|---|---|---|---|
| Typical LA County zip | $588 | 1,700 | $904K |
| Raleigh, NC | $231 | 4,330 | $424K |
| Charlotte, NC | $249 | 4,020 | $443K |
| Las Vegas, NV | $261 | 3,830 | $470K |
| Dallas, TX | $262 | 3,820 | $512K |
| Nashville, TN | $277 | 3,610 | $483K |
| Phoenix, AZ | $279 | 3,580 | $468K |
| Austin, TX | $316 | 3,160 | $570K |
| Boise, ID | $320 | 3,130 | $540K |
| Denver, CO | $367 | 2,720 | $650K |
| Salt Lake City, UT | $373 | 2,680 | $580K |
| Scottsdale, AZ | $430 | 2,330 | $933K |
| San Diego, CA | $693 | 1,440 | $970K |
Redfin Data Center. Destination figures are city-level medians for all residential sales in May 2026. LA figure is the median of LA County zip-code medians, March to May 2026.
How to read this
- Medians flatten everything. Every city here has neighborhoods far above and below its median. A $1 million budget in Scottsdale or Denver can look very different depending on where and what you buy.
- Cash isn't the only way to use equity. Some people buy outright; others use equity as a large down payment and keep a mortgage. That's a conversation for a lender and a financial advisor.
- Ongoing costs matter as much as price. Property taxes, insurance, HOA dues and state income tax vary widely between these markets. Our city guides cover those differences.
Want to see this with your own numbers? The calculator below estimates a range for your LA home and compares up to eight markets side by side.
General information, not tax, legal or financial advice. Market figures are estimates from public data and may be out of date.