A brand new report shows that New York is the most well-liked place for wealthy people to purchase real estate.
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New York continues to steer the US and the world in terms of affluent cities.
With nearly 350,000 millionaires and 60 billionaires, the Big Apple is the wealthiest city in America, in accordance with the USA Wealth Report by Henley & Partners and New World Wealth. Despite all of the headlines in regards to the wealthy leaving town, the millionaire population has increased by 48% over the past decade.
The San Francisco Bay Area ranks because the second richest city in America, regardless that it surpasses New York in terms of billionaires (over 305,000 millionaires and 68 billionaires). The Bay Area’s growth rate over the past 10 years has been much more impressive, with its millionaire population increasing by 82%. The surge in investment and the event of artificial intelligence are expected to further revitalize the realm.
The fastest-growing U.S. city for the ultra-rich in the highest 10 is Austin, Texas, which has greater than doubled its variety of millionaires over the past decade to almost 33,000. Miami can also be among the many top, with an 87% increase in millionaires over the past decade, but with one-tenth of the full variety of millionaires in New York.
The numbers show that the dual centers of wealth in the U.S. persist despite the migration of wealth to the Sun Belt – which is broadly defined because the southern a part of the United States known for sunny weather and lower-tax states.
“Despite the recent growth of major wealth centers in Texas and Florida, the Bay Area and New York are expected to remain America’s wealthiest cities for many decades to come,” said Andrew Amoils, head of research at New World Wealth.
Here are the highest 10:
