The wealthiest people in America are heavily concentrated in California, New York, Florida, and Texas, which together house over 60% of the country's billionaires. Top cities for the ultra-wealthy include New York City, the Bay Area, Los Angeles, and Miami. Key, high-wealth, and exclusive neighborhoods include Manhattan’s Billionaires' Row, Greenwich, Connecticut, and Atherton, California.
1. New York City, New York. New York remains unmatched as the wealthiest city in America in 2025. As the country's financial capital, it houses more millionaires and billionaires than any other U.S. city.
The richest suburb in America, consistently ranked by sources like GOBankingRates, is Scarsdale, New York, a Westchester County community known for its top-tier schools, affluent Tudor-style homes, and convenient commute to Manhattan, boasting mean household incomes exceeding $600,000 and high average home values. Other top contenders often include nearby Rye, NY, and affluent areas in California, Connecticut (like Greenwich), and Texas, depending on the specific metric (income vs. home value) and date of analysis, notes USA Today, TrueParity, and Yahoo Finance.
New York City has the most millionaires in the world, followed by Tokyo and London.
10 wealthiest states in the U.S.
Here are the report's top 10 cities with the highest populations of ultra-wealthy people:
It's often viewed as a marker of financial success. According to 2023 estimates from the Credit Suisse Global Wealth Report and other sources, approximately 23.7 million U.S. households, or about 18.04% of all households, have a net worth of $1 million or more.
Billionaire Warren Buffett still lives in the Omaha home he bought for $31,500 in 1958. Despite a net worth of over $100 billion, he's never left the modest five-bedroom house where he raised his family.
Elon Musk disclosed he has Asperger's syndrome (now considered part of Autism Spectrum Disorder) during his May 2021 Saturday Night Live monologue, noting it explains his sometimes unusual behavior and intense focus, with his mother also confirming his traits since childhood. While Asperger's isn't a formal diagnosis anymore, it highlights his challenges with social cues and literal thinking, which he frames as strengths in his work, alongside potentially related mood shifts mentioned in biographies, though he tweeted about bipolarity without a formal diagnosis.
For Elon Musk, 42 primarily signifies a nod to Douglas Adams' The Hitchhiker's Guide to the Galaxy, representing the "Answer to the Ultimate Question of Life, the Universe, and Everything," but also serves as a reminder to keep asking better questions about humanity's future, with SpaceX Starship's design incorporating it as a philosophical Easter egg. He uses it to link deep space exploration with existential inquiry, urging consciousness expansion to understand life's true meaning, beyond just the number.
Bethesda, Maryland, a suburb of D.C., won the top spot as the richest small city in America, according to Movoto, a real estate brokerage company. Bethesda residents — who include everyone from CNN's Wolf Blitzer to the NBA's Drew Gooden — have easy access to a polo field and to private jet facilities.
The wealthiest neighborhood in the U.S. is often cited as Gables Estates in Coral Gables, Florida, topping recent lists from Zillow and others for highest home values, displacing traditional contenders like Beverly Hills. It's an exclusive, waterfront community known for its ultra-high-net-worth residents and lifestyle, though other areas like Scarsdale, New York, consistently rank as the richest suburb by household income, representing working wealth rather than just investment wealth.
The average age of a millionaire in the U.S. is around 61 years old, with most achieving this status in their 50s and 60s through decades of saving and investing, not sudden wealth, though some sources suggest slightly younger averages (around 57) or higher medians (62). This age reflects long-term wealth accumulation, often with significant retirement account balances, and the average age has been increasing as older generations live longer.
Truckee-Grass Valley, Calif.
And the long, snowy winters are perfect for the numerous ski resorts in the vicinity of Truckee and Grass Valley. Another appealing aspect of the area for millionaires: It's a straight shot down Interstate 80 to reach Sacramento, the state capital, and San Francisco.