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There are more millionaires living in New York City (349,500) than there are people in the entire city of Cincinnati.
New York City—the epicenter of global luxury real estate—has by far the most millionaires of any global housing market, according to a recent report by Henley & Partners, a company that provides services to wealthy individuals looking to gain citizenship in other countries.
NYC is followed by the San Francisco Bay Area (305,700 millionaires), Tokyo (298,000), Singapore (244,800), and London (244,800).
Every city on this list has a huge luxury real estate market. Among the top 50 global housing markets for millionaires, Shenzhen, China, was the area with the largest 10-year growth in millionaires, up 140% from 2013 to 2023. Meanwhile, Moscow, Russia, saw the biggest drop, amid its war with Ukraine and subsequent trade sanctions from the U.S. and Europe. Its number of millionaires dropped by 24%.
In the U.S., Austin was the city with the largest 10-year growth in millionaires, according to the report. The capital of Texas saw an 110% increase in millionaires between 2013 and 2023. After Austin, the fastest growing U.S. housing markets for millionaires were the Bay Area (82%), Miami (78%), Dallas (75%), and Washington, D.C. (75%).
In total, 11 U.S. cities/housing markets made the list:
No. 1: New York City (349,500 millionaires)
No. 2: The Bay Area (305,700 millionaires)
No. 6: Los Angeles (212,100 millionaires)
No. 12: Chicago (120,500 millionaires)
No. 17: Houston (90,900 millionaires)
No. 22: Dallas (68,600 millionaires)
No. 26: Seattle (54,200 millionaires)
No. 30: Boston (42,900 millionaires)
No. 33: Miami: (35,300 millionaires)
No. 35: Austin (32,700 millionaires
No. 41: Washington, D.C. (28,300 millionaires)