Ever wonder where the country’s richest people are flocking to? Turns out, millionaires — defined as a person or married couple with a net worth greater than $1 million — prefer quaint suburbs and easy commutes. It also doesn’t hurt that some of these cities are home to fast-growing industries, such as the booming technology businesses in San Francisco. Here’s a look at eight U.S. cities that are comprised of the most millionaires.
1. New York
This city has the highest number of millionaires in the U.S. Even more interesting, according to data compiled by WealthInsight, is that it contains the second most millionaires in the world. How many millionaires could you expect to see here? According to The Guardian, 389,000.
“Aside from all the amazing cultural and artistic offerings, you have a concentration of business and finance people here that makes it extremely easy to get things done. Just look at how strong the luxury real estate market is, despite rocketing prices. This is a place people really want to be,” Jim Taylor, vice president of Harrison Group, a market strategy company that services the luxury industry, told the Daily News.