If you want to get a glimpse of the rich life without having to resort to reality television, you may not have to look as far as you think. Millionaires are everywhere, and their ranks are growing. According to research firm Phoenix Marketing International, 6.1 million U.S. households boast liquid, investable assets of $1 million or more, excluding real estate, retirement plans and business partnerships. That’s up about 3% from a year earlier. The number of penta-millionaire households — with investable assets of $5 million or more — has grown about 7%.
Because you might not be able to spot these millionaires next door, Phoenix Marketing honed in on their stomping grounds in its 2012 report, which examines wealthy residents of 942 urban areas. You’ll find millionaires living in all corners of the nation, though not always concentrated in the big cities you might expect. If you’re interested in what it would take to call these folks your neighbors, we found the median incomes and home values of these millionaire-laden locations.
Check out the list of the 10 cities with the highest concentration of millionaires.
Population, household incomes and home values are courtesy of the Census Bureau. The 942 urban areas that Phoenix Marketing ranked are “core based statistical areas,” federally defined geographic delineations that include metropolitan areas of 50,000 or more and micropolitan areas, with 10,000 to 50,000 people.
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