The American cities with the most millionaires (2024)

FAQs

Which American city has the most millionaires? ›

About 5.5 million millionaires live in the US, a wealth report by Henley & Partners said. Unsurprisingly, New York City has the most millionaires.

The rich are thriving in California.

Los Altos, California, topped the list as the No. 1 city where the rich are getting richer with a 2022 mean household income of $400,817. Seven cities mentioned in the top 10 are located in California.

Scarsdale, NY: Leading the List. The wealthiest suburb in the U.S. is Scarsdale, New York, where the average household income is $568,942 and typical home values exceed $1.4 million. Located 11 miles from Manhattan, Scarsdale has a population of around 20,000 and a significant Japanese community.

New York City, the world's wealthiest city. As the saying goes, money makes the world go round. But it also likes to take root, and rich people love to hang out with each other and compare the size of their bank accounts.

The GDP determines how wealthy a city is, and the higher the GDP, the wealthier the city. Based on GDP, the city of Tokyo, Japan is considered to be the richest city in the world.

Loudoun County located in Virginia, is the richest county in the US with a population of 435,735. The county is known for its tertiary services, booming wine sector, huge wheat-growing land,second-largest, and is the hub of several high-tech and IT businesses.

What states are millionaires moving to? ›

The most moved-to states in 2023 included South Carolina, North Carolina, Tennessee, Arizona and Florida, with cities like Tucson, Arizona; Charleston, South Carolina; Charlotte, North Carolina; Nashville, Tennessee; and Raleigh, North Carolina being particularly attractive because of their low cost of living, ...

In 2019, Mississippi had the lowest ratio of millionaire households per capita in the country, with only 4.18 percent of households holding over one million U.S. dollars in assets.

Key findings included that of all 50 states, Texas was the easiest state to build wealth in, with 0% personal income tax and an overall score of 8.23 out of 10. Alternatively, Montana, West Virginia and Idaho were among the hardest states to accumulate wealth.

What City Has the Most Billionaires per Capita? The city with the most billionaires per capita is Geneva, Switzerland. Geneva has 19 billionaires and an estimated population of 198,979, which means that there are around 9.5 billionaires per 100,000 people.

It is that city, and not the hotels and casinos, that draws thousands of new residents each year. This growth, coupled with its unusual economic basis, has made Las Vegas one of the wealthiest cities in the country, but it has also brought problems to the area.

This means roughly 1 in 24 New Yorkers are millionaires, an astonishing fact given a total population of 8.3 million as of 2023. The city now has more millionaires — defined in the report as those with liquid investable wealth in the seven digits or more — than Shanghai, Chicago and Toronto combined.