Where do Millionaires Live? Top of the World's Richest Cities

Updated at: 17/05/2024, 12:14

It is published an up-to-date list of cities where most of the world's dollar millionaires and billionaires live. In total, there are fifty in the rating — the full list can be found by clicking here. 11 of the 50 cities on this list are in the United States; another 5 are in China.

Where do the majority of millionaires and billionaires live?

City	Country	Number of millionaires	Number of billionaires	Millionaire growth % (from 2013 to 2023)
1. New York	USA	349,500	60	+48%
2. Bay Area (San Francisco)	USA	305,700	68	+82%
3. Tokyo	Japan	298,300	14	-5%
4. Singapore	Singapore	244,800	30	+64%
5. London	UK	227,000	35	-10%
6. Los Angeles	USA	212,100	43	+45%
7. Paris and Île-de-France	France	165,000	23	+12%
8. Sydney	Australia	147,000	20	+34%
9. Hong Kong	Hong Kong (China SAR*)	143,400	35	-4%
10. Beijing	China	125,600	42	+90%
11. Shanghai	China	123,400	39	+84%
12. Chicago	USA	120,500	24	+22%
13. Toronto	Canada	106,300	18	+25%
14. Milan and Lombardy	Italy	104,500	15	+20%
15. Melbourne	Australia	97,900	10	+40%
16. Frankfurt	Germany	94,500	15	+14%
17. Houston	USA	90,900	18	+70%
18. Zurich	Switzerland	88,400	10	+20%
19. Seoul	South Korea	82,500	20	+28%
20. Geneva	Switzerland	79,800	14	+36%

* - A special administrative unit of the People's Republic of China with a high degree of autonomy

Some details about the top five cities on this list.

1. New York

The financial center of the United States of America is the first on the list of world financial centers. New York City is home to the headquarters of many Fortune 500 companies.

To buy an apartment (90 sq.m.) in New York, you can buy it on average for 970,000-2,420,000 USD (according to Numbeo).

You can rent a one-bedroom apartment in New York for 3000-5680 USD per month. In turn, a 3-bedroom apartment can be rented for 6000-15.000 USD per month.

2. San Francisco Bay Area

The San Francisco Bay Area is one of the largest high-tech hubs in the world. It is also known for having the highest average salary in the entire Western Hemisphere.

To buy an apartment (90 sq.m.) in San Francisco, you can buy it on average for 970,000-1,840,000 USD (according to Numbeo).

You can rent a one-bedroom apartment in San Francisco for 2800-4200 USD per month. A 3-bedroom apartment in San Francisco can rent for 5000-8000 USD per month.

3. Tokyo

The economic center of Japan. Tokyo is home to the Tokyo Stock Exchange, the largest stock exchange in Asia by market capitalization. Tokyo is home to many multinational companies, such as Honda and Sony.

To buy an apartment (90 square meters) in Tokyo, you can buy it for a price between 420,000 and 1,800,000 USD (according to Numbeo).

You can rent a one-bedroom apartment in Tokyo for 630-1600 USD per month. In turn, a 3-bedroom apartment can be rented for 1400-4350 USD per month.

4. Singapore

The city-state of Singapore is the gateway to Southeast Asia and the second-richest city in Asia after Tokyo. Also, Singapore ranks third on the list of world financial centers.

To buy an apartment (90 sq.m.) in Singapore is possible for a price in the range of 1,050,000 to 2,165,000 USD (according to Numbeo).

You can rent a one-bedroom apartment in Singapore for 1700-4100 USD per month. In turn, a 3-bedroom apartment can be rented for 3570-7820 USD per month.

5. London

London has long been the richest city in the world, but over the last 10 years, there have been fewer millionaires in the city, so the place on the list is decreasing every year. If in 2023 London ranked 4th in the list, then in 2024 it has already ceded this place to Singapore and became the runner-up in the top 5.

It is worth noting that London still retains the position of the second world financial center.

To buy an apartment in London (90 sq.m.) is possible on average for 1,140,000-2,510,000 USD (according to Numbeo).

Rent a one-bedroom apartment in London for 2030-3800 USD per month. In turn, a 3-bedroom apartment can be rented for 4440-8250 USD per month.