A new report by Phoenix Marketing International recently ranked 942 towns and cities based on their concentration of millionaires. In total there are roughly 5.94 million millionaire households in the United States We are all curious where they live and it turns out it ranges from spreading metropolises to small coastal and mountain cities.
Here is the list of the top ten cities with the highest concentration of millionaires.
San Francisco, California
Given the high cost of living in San Francisco, you nearly need to be a millionaire to get by. One in three households brings in more than $150,000 per year. With a total population of 4,335,000 there are 121,000 millionaires yielding a concentration of millionaires at 7.5 percent. The median income is $74,000 in San Francisco.
The median home price in tropical paradise of Honolulu is nearly $575,000. The island attracts retirees and millionaires from around the world. 7.6 percent of the 953,000 people who live there are a part of the millionaire club.
A surprise to many, Juneau, Alaska, a small city of 31,000 has more than 900 millionaire households yielding a concentration of 7.6 percent. Many can thank the silver and gold mine 15 miles to the south for their fortunes. Additionally many politicians and state lobbyists make their home in the small secluded city.
A city that was home to famous millionaires: Charlie Chaplin, John Wayne, and Clark Gable were among the first to make the ocean side city their home.Oxnard is located about 60 miles northwest of Los Angeles and provides a little bit quieter life than the city. The concentration of millionaires is 7.8 percent.
A traditional east coast small town city, Easton, Maryland is a small coastal town of about 14,000 people. Of those 14,000, at least 1200 can claim that they are millionaires. On an average day the city could include a game of fire hall bingo, a blue grass concert, or a lecture at town hall. All in all about 7.9 percent of the households are millionaires.
San Jose, California
Just looking at the skyline in San Jose will tell you a lot about the people who live there. Home to Silicon Valley, San Jose is also home to some of the smartest and most entrepreneurial people in the country. Apple, Intel, and Microsoft are the three largest employers i the area. 8.1 percent of households are part of the elusive millionaire club.
Our nations capital has always had the tendency to attract money. With the thousands of politicians, lobbyists, government contractors it is no wonder why at 8.5 percent, Washington, D.C. has such a large concentration of millionaires. The median household income almost runs double the nation’s average.
A yacht community within commuting distance of New York City, Bridgeport is home to managers and other executives. 8.8 percent of the city’s households are millionaires and there is no indication of that number slowing down.
Naples, Florida attracts retirees from all around the United States. With over 90 golf courses within miles, it has made its mark as one of the ritziest places on the gulf. 9.1 percent of households are millionaires.
Los Alamos, New Mexico
Los Alamos, New Mexico is home to the National Laboratory, which is the laboratory that launched the Manhattan Project and ultimately invented the atomic bomb. Nestled away in the mountains, Los Alamos attracts the top scientists and engineers from around the country. Today it is still one of the countries leading research laboratories and is by far the towns largest employer. Leading the list 11.7 percent of the households in Los Alamos are millionaires. Of that 11.7 percent about one eighth have more than five million in assets.