More than 2.5 million wealthy people in the US currently own homes that are worth $1 million or above, our data shows. The number comes close to the entire population of Jamaica and is about 10 times more the number of property millionaires in the UK!
California is #1 State
Judging from the number of homes currently valued at $1 million and over, California and New York boast the biggest number of property millionaires in the US. There are currently around 800,000 multimillion-dollar properties in California, which means that the state has been attracting almost one third of the number of millionaires nationwide. This is also twice the number of property millionaires living in New York.
Check out the map below for the top 10 US states by number of millionaires:
And here are the numbers, crunched by our analysts:
Although California is the #1 state by number of property millionaires, the City of Los Angeles counts for only(!) 100,000 multimillion-dollar properties. In the city category, New York City ranks the highest, with 250,000 multimillion-dollar homes. Everybody knows, however, that the real estate market fell much less in New York than it did in LA, although, according to LA Times, LA is becoming a tough market to find bargains.The only city that has made it onto this list and is not located on either coast is Chicago.
Check out the maps below for county rankings in California and New York State:
Whereas in NY State, New York, Westchester and Suffolk counties occupy the highest positions. It seems that ocean-front properties are really playing their part in this ranking! PHOTOS! If you’d like to take a look at some of these pricy homes, you can access the slideshow put together by our friends at Huffington Post.