U.S. millionaires: distribution of house ownership 2019 | Statista (2024)

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U.S. millionaires: distribution of house ownership 2019 | Statista? ›

Distribution of U.S. millionaires by number of houses owned 2019. As of 2019, a plurality of millionaires in the United States, 43 percent, owned only one house. This compares to 8.5 percent of millionaires who owned five or more properties.

Millionaires are also predominantly homeowners, with about 95% owning houses.

As of 2019, 84 percent of millionaires in the United States had a net worth of between one million and two and a half million U.S. dollars. On the other end of the scale, 0.01 percent of millionaires had a net worth of over 500 million U.S. dollars.

We estimate that all of the fifteen small-population ancestry groups shown in Table 1-2 have at least twice the proportion of millionaires than the proportion for all U.S. households. Only about 3.5 percent of all U.S. households are in the million-dollar net worth league.

Wealth In America: The Numbers

Top 2% wealth: The top 2% of Americans have a net worth of about $2.472 million, aligning closely with the surveyed perception of wealth. Top 5% wealth: The next tier, the top 5%, has a net worth of around $1.03 million.

Ninety percent of all millionaires become so through owning real estate. More money has been made in real estate than in all industrial investments combined. The wise young man or wage earner of today invests his money in real estate.

Key Takeaways. The proportion of American homes worth $1 million or more has climbed to just over 8%, near the all-time high of 8.6% set in June 2022. A shortage of homes for sale boosted housing values in June to a record $46.6 trillion, surpassing the previous all-time high of $46.6 trillion.

"Centi-millionaires" are individuals with investable assets greater than $100 million. The number of centi-millionaires in the world has more than doubled in the last 20 years and now stands at 28,420, a report released by a wealth advisory firm said.

In 2019, families in the top 10 percent of the distribution held 72 percent of total wealth, and families in the top 1 percent of the distribution held more than one-third; families in the bottom half of the distribution held only 2 percent of total wealth. Trends by Family Characteristics.

According to a recent study, almost 24.5 million millionaires live in the U.S. today. To put that into perspective, that's more people than the entire population of Florida! And that number is growing.

What household net worth is considered wealthy? ›

According to Schwab's 2023 Modern Wealth Survey, Americans perceive an average net worth of $2.2 million as wealthy​​​​. Knight Frank's research indicates that a net worth of $4.4 million is required to be in the top 1% in America, a figure much higher than in countries like Japan, the U.K. and Australia​​.

The amount of retirement millionaires continues to grow, too: As of March 2024, the number of 401(k) accounts with balances of at least $1 million rose to 885,138, up nearly 12%, from year-end 2023, and nearly 30% year over year.

Nearly 6 percent have a net worth of over $10 million. Again, these people skew our average upward. The typical (median, or 50th percentile) millionaire household has a net worth of $1.6 million.

The upper class has an average net worth of $793,120 to $2.65 million, while the lower class has $16,900. The middle class ranges from $58,550 to $300,800. You can grow your net worth by saving and investing consistently, investing in the stock market, and being careful about taking on debt.

According to IRS standards, a monthly income of approximately $45,000 qualifies someone as wealthy. However, if you're aiming for the top 1% as measured by the Economic Policy Institute (EPI), you'd need to earn about $68,277 monthly.

Being rich currently means having a net worth of about $2.2 million. However, this number fluctuates over time, and you can measure wealth according to your financial priorities. As a result, healthy financial habits, like spending less than you make, are critical to becoming wealthy, no matter your definition.

79% Of Millionaires Are Self-Made — Lessons From Those Who Built Wealth Without Inheritance.

Average number of homes owned by UHNWIs in different regions worldwide 2023. The world's richest people owned on average about four homes in 2023.

In fact, the average millionaire pays off their house in just 10.2 years.

The study also found that the average millionaire's house is worth $1.8 million and has 10 rooms and five bedrooms. The average millionaire has three cars.