Where is the highest percentage of millionaires in Texas? This list might surprise you. | Gillespie County EDC (2024)
By Elizabeth Rhodes
While you may assume that most of the nation’s millionaires flock to cities like New York and Los Angeles — and many of them do — the cities with the highest percentages of the super wealthy are much smaller.
According to new data from the Wall Street Journal, the U.S. metro area with the highest concentration of millionaires is Los Alamos. In that New Mexico town, there are 912 households with more than $1 million in assets — 11.6 percent of the area’s population.
Second on the list is Summit Park, Utah, with 9.6 percent of the population holding more than $1 million in assets.
Houston-The Woodlands comes in as the fifth in Texas for millionaires — No. 133 in the nation — with 120,841 millionaire households, making up almost 5.5 percent of the overall population.
In Texas, Fredericksburg has the highest percentage of millionaires, where 701 households with more than $1 million in assets makes up nearly 6.5% of the area’s population. (Fredericksburg come in at No. 47 on the national list.)
Kerrville is No. 2 on the Texas list, with millionaires making up nearly 6 percent of the area’s population. Other Texas cities in the rankings include Midland at No. 7, Austin-Round Rock at No. 8, Brenham at No. 9 and Dallas-Fort Worth-Arlington at No. 10 in the state.
In the national list Washington, D.C., home to countless government officials and lobbyists, is No. 2, where 195,639 households with assets of at least $1 million make up 8.8 percent of the area’s population.
California-Lexington Park, Md. comes in at No. 4, Bridgeport-Stamford-Norwalk, Conn. ranks No. 5 and Torrington, Conn. ranks No. 6.
The nation’s most populous cities,weren’t very close to the top of the list. New York-Newark ranked No. 50 overall and Los Angeles-Long Beach came in at No. 123.
From houston.culturemap.com; Elizabeth Rhodes, 02/02/2015
Fredericksburg (German: Friedrichsberg) is the seat of Gillespie County, in the U.S. state of Texas. As of the 2010 Census, this city had a population of 10,530. Fredericksburg was founded in 1846 and named after Prince Frederick of Prussia.
https://en.wikipedia.org › wiki › Fredericksburg,_Texas
has the highest percentage of millionaires, where 701 households with more than $1 million in assets makes up nearly 6.5% of the area's population. (Fredericksburg come in at No.
Austin is the fastest-growing city for millionaires, according to the 2023 Wealth Report by Henley & Partners. Between 2012 and 2022, the number of millionaires calling Austin home more than doubled to 30,500. A 'millionaire growth rate' of 102% puts Austin at the top of the list.
The No. 1 city on the list is Austin, Texas. According to the report, the Texas city saw a millionaire growth rate of 102% from 2012 to 2022. In December 2022, Austin was home to 30,500 millionaires, 86 centi-millionaires, and nine billionaires.
However, millionaires are far from the majority in Texas. Out of the over 27 million returns, only 0.36% reported more than a million in adjusted gross income.
1. New York City. New York City, aka The Big Apple, is at the top of the chain. 340,000 millionaires, 724 centi-millionaires, and 58 billionaires live in the United States' financial hub.
In Texas, Fredericksburg has the highest percentage of millionaires, where 701 households with more than $1 million in assets makes up nearly 6.5% of the area's population. (Fredericksburg come in at No. 47 on the national list.)
In 2022, Dallas-Fort Worth had 92,300 high-net-worth individuals, an increase of 3% over 2021. These are individuals with investable assets of $1 million or more. It also had 4,340 multi-millionaires ($10 million or more), 211 centi-millionaires ($100 million or more) and 18 billionaires ($1 billion or more).
The county with these amazing statistics is Rockwall County. “A typical household in Rockwall County, the state's richest, earns $34,021 more than the typical Texan household,” an online report stated.
According to the list, the richest school district in Texas is Friendswood Independent School District. This district is found in Galveston County. The average household income for families in this school district is $167,090 per year. The graduation rate is 97%.
With a population of around 9,900 according to the recent census report, this city has become an attractive destination for those seeking luxury living. Known as the wealthiest place in Texas, Fair Oaks Ranch offers its residents fine dining options, top-ranking public schools, and high incomes.
In fact, the majority of millionaires didn't even grow up around a lot of money. According to the survey, 8 out of 10 millionaires come from families at or below middle-income level. Only 2% of millionaires surveyed said they came from an upper-income family.
New York is the wealthiest city in the world—home to 345,600 millionaires with a total private wealth that exceeds $3 trillion. New York is home to many Fortune 500 companies and is the financial heart of the United States, with the New York Stock Exchange and NASDAQ located in the Big Apple.
by state U.S. 2020. In 2020, California had the highest number of millionaire households in the U.S., with 1.14 million households having one million or more in investible assets. This is nearly double the 650,216 millionaire households in Texas, the state with the second-highest number.
Lazy Lane Boulevard was the only street in Texas to crack Zillow's top 15 most expensive streets list. The priciest street nationally was Indian Creek Island Road in Miami with a median home value of $21.5 million, according to the Seattle-based online real estate company.
The cost of living in Dallas, TX is 13.1% higher than in Houston, TX. You would have to earn a salary of $67,868 to maintain your current standard of living.
Zoom in: Dimmit County, in South Texas, had the state's highest share of residents in poverty, with 42.6%. Loving County, along the New Mexico border, apparently had the lowest, reporting 0.0% of the population in poverty. The Texas statewide average is 12.9%.
Prairie View, Texas, is located in Waller County and is considered one of the most expensive places to live in the state. This city is in the Dallas-Fort Worth metroplex, which is among the priciest metropolitan areas in the country.
Chateau Montclair, as it's known, is the largest home in Texas. This extravagant estate home sits on nearly six acres in Prosper and has a perfect view of a ten-acre lake.
In Texas, the most expensive zip code is 78746 in Austin. The average home value is $1,409,777, which is 517.5% above the typical home value in Texas. Here's a look at the top 10 most expensive zip codes in Texas: 78746 (Austin)
Texas' best public school system is Highland Park Independent School District, a large district comprising four elementary schools, one intermediate school, one middle school, and one high school with a total enrollment of nearly 7,000.
These U.S. Cities Have the Most Millionaires, According to a New Report New York has the most millionaires in the U.S. — and across the globe. A new report by investment firm Henley & Partners ranked where the world's wealthiest people reside, and New York City came in at No. 1 in the U.S. and globally.
The stretch of buildings on 57th Street between Park Avenue and Broadway, also known as “Billionaire's Belt” or “Billionaire's Row,” has been attracting billionaires and celebrities from all over the world since the early 2000s.
1. Atherton, CA. The richest city in the US is Atherton, California. It has a median household income of $450,690, which is almost seven times higher than the average American household income of $69,021.
Median Household Income: $67,321. Average Household Income: $94,115. Per Capita Income: $34,255. 8.7% of Households in Texas are High Income Households that make over $200,000 a year.
While the income of the top 1% varies, Forbes reported in 2022 that the bracket's minimum net worth is much higher — a cool $11.1 million. Read more: Rich young Americans have lost confidence in the stock market — and are betting on these 3 assets instead.
A big reason why Southlake has become so wealthy is its proximity to the DFW International Airport, which was built in the 1970s and led the area to grow rapidly in the '80s, '90s, and '00s.
Citi Private Bank is the private banking department of Citibank. Their services are reserved for worldly and wealthy individuals as well as their families. While eligible clients can get deposit accounts and retirement accounts as you'd find at any other bank, there are also many specialized products and services.
In broader terms, the finance and investment profession has the most millionaires. It also has the most billionaires, with 371. Here's a list of the seven best careers if you want to be a millionaire.
Specifically, Black people represent 8% of total millionaires in the U.S., 76% are white, 8% are Asian, and the Hispanic community captures 7% of the total millionaire population across the country.
“90% of all millionaires become so through owning real estate.” This famous quote from Andrew Carnegie, one of the wealthiest entrepreneurs of all time, is just as relevant today as it was more than a century ago. Some of the most successful entrepreneurs in the world have built their wealth through real estate.
Ninety percent of all millionaires become so through owning real estate. More money has been made in real estate than in all industrial investments combined.
Charity events. The wealthy love to get out and support charities and nonprofits at upscale dinners, luncheons and galas. This is a fantastic medium to mingle, meet others that share your values, and to connect with them in a warm way, while supporting a good cause yourself.
How old is the average millionaire? The average millionaire is 57 years old. This is because it takes smart financial decisions, hard work, and wise investments to become a millionaire, most of which don't fully pay off until around the age of 50 or 60.
With a population of around 9,900 according to the recent census report, this city has become an attractive destination for those seeking luxury living. Known as the wealthiest place in Texas, Fair Oaks Ranch offers its residents fine dining options, top-ranking public schools, and high incomes.
Wimberley's charm and allure has become a magnet for not just millionaires, but all kinds of people who want to have a unique Hill Country experience. The city is known for its quaint bed and breakfasts, its zipline excursions through the canyons, its breweries and wineries, and its spectacular views.
But how much do you actually need in your pocket to have a top one percent income? In Texas, an annual income of $641,400 will land you at the top, while $258,400 only gets you to the top five percent.
In Texas, the most expensive zip code is 78746 in Austin. The average home value is $1,409,777, which is 517.5% above the typical home value in Texas. Here's a look at the top 10 most expensive zip codes in Texas: 78746 (Austin)
Three North Texas counties were the fastest growing in the state from 2020 to 2022, according to recent U.S. Census Bureau figures. Kaufman, Rockwall and Parker counties are among the fastest growing in the nation.
Millionaires have many different investment philosophies. These can include investing in real estate, stock, commodities and hedge funds, among other types of financial investments. Generally, many seek to mitigate risk and therefore prefer diversified investment portfolios.
Examples of cash equivalents are money market mutual funds, certificates of deposit, commercial paper and Treasury bills. Some millionaires keep their cash in Treasury bills that they keep rolling over and reinvesting. They liquidate them when they need the cash.
Introduction: My name is Dean Jakubowski Ret, I am a enthusiastic, friendly, homely, handsome, zealous, brainy, elegant person who loves writing and wants to share my knowledge and understanding with you.
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