Not to California, New York or Florida: The City Where Wealthy Millennials Pull

Most millennials do not live in California, New York or Florida. According to a new report, they have chosen the northwestern part of Michigan. Where else can you meet them, says Fox News.

Фото: Depositphotos

Coldwell Banker Global Luxury, together with WealthEngine, published a report on wealthy millennials. In it, they analyzed their lifestyle, choice and spending habits.

According to the report, millennial millionaires account for 2 percent of US millionaires and about 0,2 percent of the country's total population.

On the subject: How I went to the USA and through 20 years became a millionaire

About 93 percent of this group have equity from 1 to 2,49 million dollars, and about 45 percent - between the ages of 34 and 37 years.

Compared to 76 percent of millionaires, 67 percent of wealthy millennials are married.

Only 20 percent of millionaires-millionaires have higher education, but 42 percent of millionaires in general.

Regarding property ownership, the two groups are similar. 94 percent of millionaires generally own real estate, and 92 percent of millennial millionaires also have their own homes. However, only about 63 percent of other millennials have acquired real estate.

On the subject: Personal experience: how to find first job in the USA

Overall, the average real estate portfolio of millionaires is 919 000 dollars, while wealthy millennials, according to the report, have an average of 1,4 million dollars.

From the report it became known that 44 percent of millennial millionaires live in California, but in fact most of them are in Traverse City, Michigan.

Фото: Depositphotos

According to the report, the cost of luxury homes in Traverse City is about 500 000 dollars, and the city itself has revived over the past 10 years.

Coldwell Banker Global Luxury has also identified its favorite millennial car models and their wealthy peers. Judging by the report, wealthier young people prefer BMW 3 series cars, while other millennials prefer Chevrolet Silverado cars.

And although there is a stereotype that millennials love to travel, only about 38 percent of young millionaires are interested in traveling.

According to the report, many wealthy millennials are also generous. About 56 percent donate to charity.

Read also on ForumDaily:

Top 15 companies to help pay for college

15 cruise myths that stop you from having a great vacation

How To Save On US Health Care: Three Important Tips

Top 15 cities where it is cheaper to buy a house than rent

Do you want more important and interesting news about life in the USA and immigration to America? — support us donate! Also subscribe to our page Facebook. Select the “Priority in display” option and read us first. Also, don't forget to subscribe to our РєР ° РЅР ° Р »РІ Telegram  and Instagram- there is a lot of interesting things there. And join thousands of readers ForumDaily New York — there you will find a lot of interesting and positive information about life in the metropolis.