The 10 U.S. Cities with the Most Millionaires

In the United States, the concentration of millionaires is a clear indicator of economic power and living standards in different cities. Wealth in the country is unevenly distributed, with certain metropolitan areas standing out for their high density of millionaire residents. Here we explore the cities with the most millionaires, supported by recent data and figures.

1. New York, New York

New York remains the city with the highest number of millionaires in the United States. According to a 2023 Wealth-X report, the city is home to around 380,000 millionaires. This figure is due to the concentration of financial, media, and tech sectors, as well as its status as a cultural and fashion center.

2. Los Angeles, California

Known for its entertainment industry, Los Angeles has approximately 205,000 millionaires. The diversity of its economy, which includes technology, real estate, and manufacturing, in addition to Hollywood, significantly contributes to wealth accumulation.

3. San Francisco, California

The heart of Silicon Valley, San Francisco, is home to about 165,000 millionaires. The boom of tech companies and startups has driven wealth growth in this area. Big names like Google, Facebook, and Apple have a strong presence here.

4. Chicago, Illinois

Chicago has a millionaire population of around 150,000 individuals. The city is a major financial and commercial hub, with a diversified economy that includes manufacturing, technology, transportation, and financial services.

5. Houston, Texas

Houston, with about 132,000 millionaires, benefits from its position as a global energy center. The oil and gas industry, along with technology, commerce, and healthcare, are important economic pillars.

6. Dallas, Texas

Dallas is home to approximately 118,000 millionaires. The city’s economy is robust and diversified, with key sectors like telecommunications, banking, commerce, and technology.

7. Washington D.C.

The nation’s capital has about 105,000 millionaires. The concentration of government agencies, defense contractors, international organizations, and law firms drives the local economy and wealth accumulation.

8. Miami, Florida

Miami has a population of around 96,000 millionaires. The city is a major tourist destination and an international trade hub, especially with Latin America, contributing to its wealth.

9. Boston, Massachusetts

Boston is home to approximately 92,000 millionaires. The city stands out for its higher education, biotechnology, finance, and medical services sectors, which drive wealth creation.

10. Seattle, Washington

With around 87,000 millionaires, Seattle benefits greatly from the presence of tech giants like Amazon and Microsoft. The city also has a strong aerospace and biotech industry.
The distribution of millionaires in the United States reflects the economic strengths and opportunities of each city. New York remains the city with the highest concentration of millionaires, followed closely by Los Angeles and San Francisco, thanks to their diversified economies and high-performing sectors. The presence of these millionaires not only indicates wealth accumulation but also the economic opportunities and attractiveness these cities have for high-net-worth individuals.

This analysis shows how wealth in the United States is concentrated in cities with robust and diversified economies, where tech, financial, energy, and entertainment sectors play a crucial role in personal wealth accumulation.