Let’s Make a Game Plan
Boost your investment game with expert real estate insights. We'll keep you up to date on everything you need to know to be the smartest real estate investor you can be.
The number of millionaire US homeowners—as well as the number of millionaire homeowner households—has more than quadrupled from 2017 to 2022, according to Point2. Here are more eye-popping stats from their report:
- The total number of households that earned $1M or more reached 136,697 in 2022, which is more than quadruple the 30,000 households in 2017.
- 37.4% of millionaire homeowners are Gen X, 28.9% are Baby Boomers, 19.7% are Millennials, 10.2% are Gen Z, and 3.7% are the Silent Generation (adults born 1928-1945)
- Millionaire homeowners are 53.8% men and 46.2% women.
- 75% are married, while 17.6% are single.
- The “typical” millionaire homeowner is a 50-year-old chief executive or physician who lives in San Francisco or New York, owns a $1.8 million, 10-room, five-bedroom home, and has three cars.
Our take
Experienced real estate investors know there’s only so much you can do with your own money. To scale your ventures, you’ll need to get financing, either through syndication or a fund structure. That’s why this report from Point2 is so useful. Beyond the obvious hubs like New York or Los Angeles, Point2 identifies the 30 largest metros with the highest share of millionaire households. Use this to search for potential partners who have both the capital to deploy and an interest in new investment vehicles.