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Here Are The Top US Cities That Have The Most Millionaires By Benzinga

Benzinga – by Bibhu Pattnaik, Benzinga Staff Writer.

Investment-migration consultancy Henley & Partners recently unveiled its annual report on wealth distribution in the U.S., featuring a ranking of the country’s wealthiest cities based on the number of millionaire residents.

The top five cities on the list remained consistent with the previous year’s report.

However, Henley & Partners highlighted a “millionaire remix trend,” with more affluent Americans and expatriates from abroad choosing cities like Austin and West Palm Beach as their preferred destinations.

According to the report, the U.S. boasts the largest millionaire population globally, with approximately 5.5 million individuals residing there. Additionally, the country is home to nearly 10,000 individuals with a net worth exceeding $100 million and close to 800 billionaires.

Also Read: What Does ‘Wealth” Mean To Americans Today? Survey Yields Unexpected Responses

New York City has 349,500 millionaires, followed by the Bay Area, which includes cities like San Francisco, San Jose, and Oakland, with approximately 305,700 millionaires.

Notably, the Bay Area experienced an 82% increase in its millionaire population between 2013 and 2023.

Los Angeles secured the third spot on the list, with around 212,100 millionaires, while Chicago and Houston rounded out the top five cities with 120,500 and 90,900 millionaires, respectively.

Other notable cities with significant millionaire populations include Dallas (68,600 millionaires), Seattle (54,200 millionaires), Boston (42,900 millionaires), Miami (35,300 millionaires), Austin (32,700 millionaires), and Washington, DC (28,300 millionaires).

Now Read: What Makes Us Happy In Life? This Is What A Harvard Study Says

This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Photo: Shutterstock

© 2024 Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

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