USA Wealth Report 2024

America Remains the World's Top Wealth Hub but Faces Uncertain Future - Seite 2

America's wealthiest and priciest cities

New York City continues to wear the crown as the wealthiest city in the USA (and the world) with 349,500 millionaires calling the Big Apple home (of which 744 are centi-millionaires and 60 are billionaires), followed by the Bay Area (305,700), Los Angeles (212,100), Chicago (120,500), and Houston (90,900). Dallas (68,600), Seattle (54,200), Boston (42,900), Miami (35,300), and Austin (32,700) all make it into this year's Top 10, with Washington, D.C. in 11^th place with 28,300 resident millionaires.

Looking at wealth growth over the past decade, Texas's capital Austin has enjoyed the biggest leap, with a 110% increase in its millionaire population between 2013 and 2023. The Arizona desert city of Scottsdale and Florida's Palm Beach and West Palm Beach have also proved to be millionaire magnets with increases of 102% and 93%, respectively. Greenwich and Darien on Connecticut's affluent Gold Coast, and Northern California's Bay Area, have sported wealth growth of over 80%, and Miami, Dallas, D.C., Seattle, and Houston have all seen their resident millionaires surge by over 70%. Andrew Amoils, Head of Research at New World Wealth says "future wealth hotspots to watch are Salt Lake City, Tampa, and Naples. Over the next decade, we can expect these cities to attract rising numbers of high-net-worth residents".

When it comes to the most expensive real estate in America, New York again takes the lead with the average price per m² of a 'prime' (200 to 400 m²) apartment in the city standing at an eye-watering USD 28,400. Next up is LA, where the plushiest pads fetch an average of USD 17,800 per m², followed closely by Palm Beach (USD 17,500), Miami Beach (USD 17,200), and the Bay Area, where you can spend up to USD 15,500 per m² for premium residential units in the most affluent locations.

In terms of private wealth outflows, Henley & Partners received the most enquiries from US citizens on record in 2023 (with an increase of 500% over the past five years), making them the highest ranked nationality worldwide when it comes to applying for residence and citizenship by investment programs. To meet demand, the firm has opened offices in Chicago, Dallas, Los Angeles, Miami, New York City, and San Francisco.

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