Millionaire Hotspots: California & Washington Lead the Way

Have you ever wondered where all the millionaires hang out? Well, look no further than this list of cities that have the most millionaires. According to a recent article by 24/7 Wall St., these states are packed with millionaires, and their real estate markets are booming as a result.

California's Wealthy Triad

California is home to some of the wealthiest cities in the country, and it's no surprise given the staggering rise in housing costs. Let's start with San Francisco, where the median home price has skyrocketed to $1.4 million, a 67% increase since 2014! With a millionaire density of 5,000 per 100,000 residents, it's clear that San Francisco is a playground for the rich and famous.

Moving south, Los Angeles has also seen a significant surge in housing prices, now sitting at a median of $950,000. With a millionaire density of 3,800 per 100,000 residents, LA's glamorous lifestyle keeps attracting the wealthy like moths to a flame.

And don't forget San Jose! Known as the heart of Silicon Valley, San Jose has experienced a jaw-dropping 72% rise in housing costs over the past decade. The median home price here is $1.2 million, and with a millionaire density of 4,500 per 100,000 residents, it's a techie's paradise.

Seattle: The Emerald City's Wealth Boom

While California often grabs the spotlight, Seattle is quietly becoming a millionaire magnet in its own right. The city has seen a 68% increase in housing costs over the past decade, with median home prices now at $750,000. Seattle boasts a millionaire density of 3,500 per 100,000 residents, blending its natural beauty with a thriving tech scene

These 15 Cities in The U.S. Have The Most Milliionaires

According to 24/7, these cities have the most millionaires living there.

Their methodology, "Statistics for this article came from a variety of vetted online sources, mainly Zillow and Redfin. The U.S. Census Bureau and local government websites also provide detailed demographic and economic reports. The number of millionaires per city was derived from Wealth-X and Capgemini; financial reports were pulled from wealth management firms and world financial institutions. Home prices and the increase in housing costs were formed and calculated based on data from the past decade (2014-2024)."

Gallery Credit: Kyle Matthews

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