Approximately 5.5 million high-net-worth individuals call the United States home, representing 37% of the world’s millionaires.
A 2024 U.S. Wealth Report, released by global wealth consultancy Henley & Partners in partnership with New World Wealth, establishes exactly where the money is concentrated in America by ranking the country’s wealthiest cities. The report analyzes the number of millionaires, centimillionaires (earning more than $100 million), and billionaires in these wealth centers.
According to the report, the number of millionaires in the United States has increased by 62% in the last 10 years.
Some of the usual suspects (New York, Los Angeles) were at the top of the list, but there were some surprises too. For example, Austin, Texas, which ranked 10th, had the highest millionaire growth rate from 2013 to 2023, at 110%. And while the Bay Area didn’t come in first place, it has the most billionaires.
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Here are the 10 richest cities in America.
1. New York
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Millionaires: 349,500
Centibillionaires: 744
Billionaires: 60
Millionaire Growth % from 2013 to 2023: 48%
2. Bay Area
Millionaires: 305,700
Centibillionaires: 675
Billionaires: 68
Millionaire Growth % from 2013 to 2023: 82%
3. Los Angeles
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Millionaires: 212,100
Centibillionaires: 496
Billionaires: 43
Millionaire Growth % from 2013 to 2023: 45%
4.Chicago
Millionaires: 120,500
Centibillionaires: 290
Billionaires: 24
Millionaire Growth % from 2013 to 2023: 22%
5.Houston
Millionaires: 90,900
Centibillionaires: 258
Billionaires: 18
Millionaire growth % from 2013 to 2023: 70%
6.Dallas
Millionaires: 68,600
Centibillionaires: 125
Billionaires: 15
Millionaire growth % from 2013 to 2023: 75%
7.Seattle
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Millionaires: 54,200
Centibillionaires: 130
Billionaires: 11
Millionaire Growth % from 2013 to 2023: 72%
8. Boston
Millionaires: 42,900
Centibillionaires: 107
Billionaires: 8
Millionaire Growth % from 2013 to 2023: 55%
9. Miami
Millionaires: 35,300
Centibillionaires: 164
Billionaires: 15
Millionaire growth % from 2013 to 2023: 78%
10. Austin
Credit: Getty Images
Millionaires: 32,700
Centibillionaires: 92
Billionaires: 10
Millionaire growth % from 2013 to 2023: 110%