For many of America's most affluent people, having a second or third home is the norm. And according to a new report, they prefer properties in beachfront areas like Boca Raton or near the Rocky Mountains.
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Miami has also seen a millionaire growth rate of 75% from 2012 to 2022. According to the report, in December 2022, the city was home to 38,000 millionaires, 160 centi-millionaires, and 12 billionaires. The second town on the list is The Hamptons, New York. Henley and Partner's report stated that the famous playground for the rich and famous had 700+ centi-millionaire residents during the peak holiday season versus 25 permanent residents.The Hamptons ranked second as a hotspot for America's most affluent to have a second home.
The report also added that The Hamptons was a vacation home hotspot thanks to the rise in hybrid living. According to recent data from WFH Research,than people with fully remote or in-person jobs. It's a trend that also arose in emerging tech hubs like Austin and Miami. Those cities' business-friendly environments have made them new tech capitals, according to Henley and Partner's report.
Another Florida city rounded out the top three: West Palm Beach, which includes Palm Beach island and the town of West Palm Beach. The report states that in December 2022, the city had over 400 centi-millionaires versus only 64 residents during the rest of the year.According toGet smarter about your money and career with our weekly newsletter
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