Summary
- Wealth is concentrated in the major US cities, with the top spots held by New York, the San Francisco Bay Area, and Los Angeles.
- Diverse industries and economic opportunities are driving wealth these cities.
- The wealthy play a crucial role in the economy through investment, job creation, and philanthropy.
- Unbiased can match you with a financial advisor who can build a financial plan to help you reach your goals.
What are the wealthiest cities in America?
Based on data from reputable sources, including Henley Global and Savory & Partners, here's a look at the wealthiest US cities. These figures are correct as of October 2026.
1. New York City
New York City is the wealthiest city in America and among the richest in the world. It is a global center for finance, commerce, media, fashion, art, and culture.
- Number of millionaires: 384,500
- Number of centi-millionaires: 818
- Number of billionaires: 66
The cost of living in New York City is very high, especially when it comes to housing. The median rent for a one-bedroom apartment in Manhattan is over $4,000 per month. Despite these high costs, the city also offers a high quality of life and many career opportunities.
Retiring in New York City can be challenging, but it is possible with careful planning.
2. The Bay Area, San Francisco
The Bay Area encompasses San Francisco, Silicon Valley, and the surrounding counties. It's often considered home to modernization and prosperity due to its status as a global technology and innovation hub. The city is home to giants like Apple, NVIDIA, and Salesforce.
- Number of millionaires: 342,400
- Number of centi-millionaires: 756
- Number of billionaires: 82
Unsurprisingly, the cost of living in the Bay Area is notoriously high. This is mainly driven by skyrocketing housing costs.
Retiring in the Bay Area also tends to be more expensive than the rest of the country.
3. Los Angeles
While often associated with Hollywood and celebrity culture, LA is also a significant center for international trade, aerospace, technology, and healthcare.
- Number of millionaires: 220,600
- Number of centi-millionaires: 516
- Number of billionaires: 45
Although LA offers a desirable lifestyle, housing costs can be quite high, especially in prime neighborhoods. This is one of the many reasons that it’s among the 10 wealthiest cities in America.
Retiring in Los Angeles can be appealing due to its pleasant climate, diverse cultural offerings, and access to quality healthcare, but the costs can turn people off.
4. Chicago
Chicago holds fourth position among America's wealthiest cities. The “Windy City” is a major center for finance, commerce, industry, technology, education, and culture.
- Number of millionaires: 127,100
- Number of centi-millionaires: 295
- Number of billionaires: 25
Chicago offers a high quality of life, cultural richness, and a vibrant job market. It remains one of the more affordable big cities in the country.
Retiring in Chicago is an attractive option due to its diverse neighborhoods, cultural amenities, accessible public transportation, and relatively lower cost of living.
5. Houston
The highest of the Texas cities in this list, Houston is a powerhouse of economic activity and a magnet for wealth creation. Known as the "Energy Capital of the World," Houston's economy thrives on its robust energy sector, including oil and gas.
- Number of millionaires: 81,800
- Number of centi-millionaires: 210
- Number of billionaires: 16
Houston's relatively affordable cost of living compared to other major cities, especially in housing, adds to its appeal.
Retiring in Houston is also popular, due to its affordability, diverse cultural offerings, warm climate, and access to quality healthcare.
6. Dallas
Considered the vibrant heart of Texas, Dallas has has quickly grown as prominent center of wealth. It is renowned for its thriving business environment, diverse industries, and pro-business policies.
- Number of millionaires: 72,400
- Number of centi-millionaires: 135
- Number of billionaires: 16
In contrast to other major cities, Dallas boasts a low cost of living, especially in terms of housing.
The city's lower cost of living compared to other major metropolitan areas can provide retirees with greater financial flexibility and a comfortable lifestyle.
7. Seattle
Seattle is a burgeoning hub of wealth and innovation. It's home to major corporations like Amazon, Microsoft, Boeing, and Starbucks and has a thriving technology sector.
- Number of millionaires: 53,100
- Number of centi-millionaires: 127
- Number of billionaires: 11
While Seattle offers a high quality of life, natural landscapes, and a vibrant cultural scene, the cost of living can be considerably high.
Despite this, many people find retiring in Seattle appealing due to its natural beauty, cultural offerings, and access to quality healthcare.
8. Boston
Boston, famous for its intellectual and cultural vibrancy, and remains a major center for finance, education, healthcare, and technology.
- Number of millionaires: 45,000
- Number of centi-millionaires: 112
- Number of billionaires: 8
The city offers excellent living standards, top educational opportunities, and a vibrant cultural scene, but it also has a high cost of living.
For those who can afford the cost of retirement, the city offers a rich cultural experience, access to world-class healthcare, and a diverse range of communities and neighborhoods.
9. Miami
Miami is a powerful economic hub. Its diverse industries, favorable tax environment, and warm climate attract wealth and businesses.
- Number of millionaires: 38,800
- Number of centi-millionaires: 180
- Number of billionaires: 17
While Miami offers a high quality of life, a vibrant cultural scene, and ample sunshine, the cost of living is higher than in other areas of the country.
Retiring in Miami is a great choice for many due to its year-round sunshine, beautiful beaches, and diverse cultural offerings, but rising costs and hurricanes are factors to consider.
10. Austin
Austin, the Texas capital, is a thriving center for innovation. It's home to major tech companies like Dell, Tesla, and Oracle and a hub for startups, attracting a wealth of talent and investment.
- Number of millionaires: 32,000
- Number of centi-millionaires: 90
- Number of billionaires: 10
While the cost of living is rising, Austin remains below the national average. The city offers a vibrant cultural scene and a business-friendly environment.
Retiring in Austin can be inviting for seniors due to its warm climate, outdoor activities, and cultural offerings. It’s important to calculate how much retirement here will cost, however.
What cities are growing in wealth?
Other cities are rapidly closing the gap on the top 10.
The following are believed by many to be among the wealthiest cities in America in coming years:
Scottsdale
Scottsdale, Arizona's thriving tourism and real estate sectors contribute to its wealth, attracting affluent individuals and retirees. It offers it's residents a luxurious lifestyle with high-end amenities and a favorable tax environment. Its
Palm Beach & West Palm Beach
Palm Beach and West Palm Beach in Florida have a thriving real estate market, high-end shopping, and vibrant social scene that attract wealthy residents.
Greenwich & Darien
These affluent Connecticut communities offer top-rated schools, safe neighborhoods, and easy access to New York City, appealing to families and professionals. High housing costs are a factor to consider when thinking about retirement.
How do the wealthy affect the economy?
The US boasts a substantial number of high-net-worth individuals.
Those who live and work in the wealthiest cities in America significantly impact the local economy.
Their spending drives demand for luxury goods and services, fueling economic growth through the "wealth effect."
Substantial investments in businesses and assets by these wealthy individuals and businesses promote innovation, job creation, and productivity.
Moreover, they efficiently allocate capital towards promising industries, furthering economic development.
Get expert financial advice
The United States is the land of opportunity, and nothing highlights this more than 10 wealthiest cities in America.
If you want to live or retire in one of the 10 wealthiest cities in America, Unbiased can connect you with an expert financial advisor to start your journey.