AUSTIN, Texas — Austin now has the tenth-largest population of millionaires in the U.S.
According to a new report, Austin is now home to 32,700 millionaires, a 110% increase over the last 10 years. The city's rise in millionaires is also outpacing the nation, which has seen a 62% rise in its millionaire populace since 2013.
The report published by global wealth advisory firm Henley & Partners and New World Wealth details the rise in millionaires, centi-millionaires and billionaires over the last decade.
While the U.S. remains the top destination for millionaires, Austin isn't the only popular destination for the rich. The Bay Area, along with Miami and West Palm Beach, have seen exponential increases in incoming millionaires since 2013.
Austin is home to 10 billionaires, according to the study. But while the dramatic increase in wealth has Austin as the fastest-growing city for millionaires, it still ranks third among the wealthiest cities in Texas behind Dallas and Houston.
Dallas now has a population of 68,600 millionaires, 125 centi-millionaires and 15 billionaires. Meanwhile, nearly 91,000 millionaires and 18 billionaires call Houston home.
While Austin trends as the fastest-growing city for millionaires, several cities are ready to take the crown. Researchers at New World Wealth say Salt Lake City, Utah and Tampa, Florida are future wealth hotspots to watch over the next decade.
