Boca Raton Real Estate Budgeting | What Does A $1 Million Budget Get You Across America

what can $1 million get you?

As Realtors, we always love playing the "what if" scenarios in our minds. We believe a good Realtor sees a home for both its potential through imagination and the practical economics behind it. A Realtor should be as good at envisioning your desires and taking them from paper to reality, as they are in executing an efficient and ethical transaction. One enjoyable thought exercise is to see what an imaginary budget would afford in a selection of different cities and states. With home prices rising in South Florida, and our relative insulation from the very worst of the post-lockdown economic fallout, $1 million might not go as far as you think. Without further ado, here is a selection of metro areas, and a sample of what 1 million dollars can buy in each region.

Please Note: Real Estate is a dynamic and always-changing industry. Numbers, values, and percentages will not always hold and trends may heavily impact the veracity and currentness of this information over time. 

.aerial view of one thousand ocean

Boca Raton, FL

We begin with the idyllic Boca Raton, Florida. Part tropical paradise, part glamor destination. Imagine the glamor of LA and New York without the numerous disadvantages by way of taxes, traffic, and public safety. Boca Raton is the nexus of Champagne & Parisi's legacy and a city we are proud to call home.

What can you afford with a $1 Million Budget In the Boca Raton Real Estate Market? 

  • A 3-4 bedroom single-family home in a West Boca Raton gated community.
  • A smaller-sized luxury condo in the downtown or waterfront corridors.
  • A small Intracoastal single-family home, unlikely to include private dockage.

delray beach at sunset

Delray Beach, FL

Delray Beach is the not-so-quaint seaside village just north of our Boca offices. There is nothing wrong with the lack of "quaintness," but it must be said that the once quiet and low-lying neighbor to Boca Raton is now a bustling destination for new residents, businesses, and tourists from across the globe. While prices and fees are often lower, along with more non-HOA communities, Delray Beach is following a similar trend as Boca Raton while developing new construction in seemingly every available pocket of space.

What can you afford with a $1 Million Budget In the Delray Beach Real Estate Market? 

  • A 3-5 Bedroom Home in A Gated Community
  • A midrise or high-rise waterfront condo
  • A multifamily investment property, such as a duplex

miami beach florida

Miami Beach, FL

The last of our Floridian cities to be cited as we continue our national tour of relative real estate markets, Miami Beach, more commonly referred to as "South Beach" is one of the premier destinations for celebrities, the ultra-wealthy, the young, hip, and glamorous. While not as relaxed or quiet as similar upscale waterfront cities in Broward and Palm Beach Counties, its location amid Florida's most bustling city at a time when a crime is as low as its been in decades makes it a substantial attractant to new and old money.

What can you afford with a $1 Million Budget In the Miami Real Estate Market?

  • A 1-2 bedroom condo in an upscale waterfront building
  • A larger condo further from direct waterfront views or access

downtown austin texas

Austin, TX

Finally our tour ventures out of Florida and to the city that for many has been to California what Boca Raton has been to New York. The mass exodus of tech professionals and businesspeople from the likes of Los Angeles, Silicon Valley, and Seattle to name a few have landed primarily in places like Arizona, Nevada, and most commonly - Austin, Texas. The result has been a boom in typically overpriced hipster housing to accommodate these young upstart techies. Beneath the urban sprawl lies the capital city of one of the most important states in the country, the University of Texas, and the many existing reasons new residents have moved there.

What can you afford with a $1 Million Budget In the Austin Real Estate Market?

  • A 3-4 Bedroom Single Family home in a desirable neighborhood, with a potential outdoor pool and reasonably sized backyard.

downtown atlanta georgia

Atlanta, GA

The jewel of the state of Georgia, the home of Coca-Cola, and the world's greatest aquarium, Georgia have long served as a southern destination for new residents looking to enjoy the fruits of Southeastern living without the de-commitment from city life. 

What can you afford with a $1 Million Budget In the Atlanta Real Estate Market?

  • Similarly to Austin, Atlanta buyers can expect a 3-4 bedroom single-family home in a sought-after neighborhood, with potential for guard gate service, a pool, and/or decent-sized backyard.

new york city skyline

New York, NY

Forever the icon of the American Northeast, and the western hemisphere at large, New York City has an indelible tie to the city of Boca Raton, often referred to colloquially as the "5th Borough." Boca Raton is home to a massive and consistently growing number of New York City exiles, with just as many second, third, and fourth generations being raised in Boca Raton from the initial migration of a relative.

What can you afford with a $1 Million Budget In the New York City Real Estate Market?

  • Three months' rent (we're kidding!)
  • A 1-2 Bedroom condo in a desirable area of Manhattan, or a larger single-family home in a nearby suburb.

denver colorado skyline

Denver, CO

The hearthstone of the Rocky Mountains, Denver is much more than a centrifuge for ski trips and... "plant enthusiasts." Denver remains one of the most desirable cities west of the Mississippi, with fewer of the problems that currently plague cities losing citizens to the likes of Austin by the thousands. Denver's position between peaks also ensures that even in the bitterest cold weather, respite can be found. 

What can you afford with a $1 Million Budget In the Denver Real Estate Market?

  • A 3-4 Bedroom single family home in a desirable neighborhood with a large backyard and potentially spectacular mountain views.

los angeles skyline

Los Angeles, CA

Last but far from least is Los Angeles, La-La Land, City of Angels, home of the stars and so much more. As one of the most troubled cities in the United States, much has been made about the flight from cities like Los Angeles to safer states with lower taxes and more opportunities. That being said, much like New York City, Los Angeles will never lose its relevance or its luster in its entirety. Better days lie ahead for this spectacular city, but for now, we expect to see a shift in real estate prices as more prominent citizens leave and the quality of life continues to deteriorate.

What can you afford with a $1 Million Budget In the Los Angeles Real Estate Market?

  • A 1-2 bedroom condo in a desirable area
  • A small single-family home in a less expensive part of the city

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