Approximately 5.5 million wealthy people call the United States home – and they represent 37% of the world's millionaires.
A 2024 USA Wealth Report released by global wealth advisory firm Henley & Partners in collaboration with New World Wealth pinpoints exactly where money is concentrated in America by ranking the country's richest cities. The report breaks down the number of millionaires, centi-millionaires (earning over $100 million) and billionaires in these wealth centers.
According to the report, the number of millionaires in the US has increased by 62% over the past decade.
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 of 110% from 2013 to 2023. And while the Bay Area didn't take the top spot, it does have the most billionaires.
Related: Fighting burnout? People living in this US state have the best work-life balance.
Here are the ten richest cities in America.
1. New York City
Photo credit: Getty Images
Millionaires: 349,500
Hundred millionaires: 744
Billionaires: 60
Millionaire growth % from 2013 to 2023: 48%
2. Bay Area
Millionaires: 305,700
Hundred millionaires: 675
Billionaires: 68
Millionaire growth % from 2013 to 2023: 82%
3. Los Angeles
Photo credit: Getty Images
Millionaires: 212,100
Hundred millionaires: 496
Billionaires: 43
Millionaire growth % from 2013 to 2023: 45%
4.Chicago
Millionaires: 120,500
Centi-millionaires: 290
Billionaires: 24
Millionaire growth % from 2013 to 2023: 22%
5.Houston
Millionaires: 90,900
Hundred millionaires: 258
Billionaires: 18
Millionaire growth % from 2013 to 2023: 70%
6.Dallas
Millionaires: 68,600
Centi-millionaires: 125
Billionaires: 15
Millionaire growth % from 2013 to 2023: 75%
7. Seattle
Photo credit: Getty Images
Millionaires: 54,200
Hundred millionaires: 130
Billionaires: 11
Millionaire growth % from 2013 to 2023: 72%
8.Boston
Millionaires: 42,900
Hundred millionaires: 107
Billionaires: 8
Millionaire growth % from 2013 to 2023: 55%
9.Miami
Millionaires: 35,300
Hundred millionaires: 164
Billionaires: 15
Millionaire growth % from 2013 to 2023: 78%
10. Austin
Photo credit: Getty Images
Millionaires: 32,700
Hundred millionaires: 92
Billionaires: 10
Millionaire growth % from 2013 to 2023: 110%