While economic headwinds continue to buffet the lives of many Americans, causing them, among other things, to be more frugal with summer vacations, a handful of US cities continue to hold vast reserves of wealth.
According to a new report on the wealthiest cities in the US released today by Henley & Partners and New World Wealth, the number of millionaires in the last decade grew by double-digit percentages in at least 10 cities across the country. In total, the US is still home to more than 6 million high-net-worth individuals, who each have investable wealth of at least $1 million.
The report also shows that an impressive 34% of global liquid wealth and 37% of the world’s millionaires reside in the US, as well as 36% of centi-millionaires, or those who have $100 million or more in wealth, and 33% of the globe’s billionaires.
America’s wealth statistics were bolstered by about 3,800 high-net-worth individuals migrating to the US in 2024, including 95 centi-millionaires and 10 billionaires. Conversely, the number of US citizens looking into alternative residence or citizen programs abroad jumped by 183% from 2024 to 2025, according to HenlEy & Partners data.
Europe, Latin America, and the Caribbean are the most popular regions for these investment residence programs, which the report notes are a valuable option for diversifying wealth. “The apparent paradox of wealthy US-Americans considering moves abroad, while non-Americans aggressively invest in the USA, reflects a broader global dynamic and an economic truth,” Jean Paul Fabri, chief economist at Henley & Partners, said in the report. “The USA remains the world’s best place to create and grow wealth, even if some opt to move elsewhere. For global investors, the American market represents opportunity, scale, security, and innovation—attributes that remain scarce beyond US borders.”
Here’s a closer look at the wealthiest cities in the US in 2025, and read about the wealthiest cities in the world for more.
The top 5 wealthiest US cities
5. Houston
Texas’s largest city has a rapidly growing population of millionaires. As a hub of the oil and gas industry, known as the “Energy Capital of World,” Houston saw its community of millionaires grow by 75% from 2014 to 2024 for a total of 81,800 millionaires. That figure includes 210 centi-millionaires and 16 billionaires. Aside from the lucrative energy industry, Houston is attractive to investors for its appealing tax regime, according to the report. Other Texas cities rising up the wealth chain include Dallas and Austin, which grew their millionaire populations by 85% and 90%, respectively, and both made it on the top 10 list.
