Over five years, the number of homeowner households nationwide making at least $1 million per year more than quadrupled, says Point2. Generation X makes up the largest share of millionaire homeowners.
This home in Gladwyne is pending sale for $1.695 million. A study by the real estate search website Point2 found that the typical millionaire homeowner in the Philadelphia metro area is a Gen Xer who owns a home with an estimated value of $1 million that has 11 rooms and five bedrooms.The number of home-owning households nationwide making at least $1 million per year more than quadrupled between 2017 and 2022, according to an analysis by the real estate search website.
Point2 also analyzed the country’s most populous metropolitan areas and found that the Philadelphia region had 2,128 millionaire homeowner households in 2022 — 0.08% of the metro’s households. Physicians, chief executives, legislators, lawyers, and judges are the positions that are most represented among millionaire homeowners across the 30 largest metro areas.Nationwide, the majority of millionaire homeowners — three in four — are married. But almost one in five are single. Others are divorced, widowed, or separated.In 2017, the beginning of the time period analyzed, baby boomers represented the highest share of millionaire homeowners. Five years later, Gen Xers had overtaken them.
The estimated value of millionaires’ homes in San Francisco, Los Angeles, and San Diego is more than $2.5 million.Nationwide, about 136,700 households had annual incomes of more than $1 million in 2022, but, predictably, the number of millionaire homeowners varies greatly by metro area.
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