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- Americans with net worths of more than $100 million are snapping up second homes.
- Henley and Partner's 2023 wealth report revealed the top locations for vacation homes.
- Miami is the most popular location for centi-millionaires to purchase these properties.
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According to a 2023 wealth report by Henley & Partners, hundreds of centi-millionaires, or individuals with a net worth of at least $100 million, own second homes. Many of these millionaires purchase their vacation homes in beachfront areas and towns near the Rocky Mountains.
Data collated by New World Wealth, a global intelligence firm based in South Africa, showed the number of centi-millionaires living in these towns fluctuating according to the time of year. During peak holiday season in December last year, the number of centi-millionaires massively increased, suggesting a growing number of vacation home owners in these towns.
Take a look at 10 of the most popular towns for centi-millionaires to purchase a second home in. These towns are arranged according to the number of centi-millionaires living there in December 2021.
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Number of centi-millionaire residents: 150+
Number of centi-millionaires on peak holiday month: 38
Cost of living index: 128
Boca Raton, located along Florida's southern coast, is known for its stunning seaside homes and growing art scene.
According to Realtor.com, homes currently on the market can cost as much as $45 million in Boca Raton. The median price of home in the city that's for sale is $625,000.
Source: New World Wealth
Chris Axe/Getty Images
Number of centi-millionaire residents: 150+
Number of centi-millionaires on peak holiday month: 40
Cost of living index: 276.4
Carmel, 122 miles south of San Francisco, is a city known for its beachfront homes and natural landscape.
According to Realtor.com, the median listing price for homes in Carmel is $3.2 million. The most expensive home listed in Carmel is $18.5 million.
Source: New World Wealth
JMcQ/Shutterstock
Number of centi-millionaire residents: 150+
Number of centi-millionaires on peak holiday month: 160
Cost of living index: 170.5
Jackson Hole is a town in Wyoming. The term "hole" relates to the valley encircled by mountains. It's popular for its luxury ski resorts
According to Realtor.com, the most expensive home currently on the market in Jackson Hole costs $40 million. The median listing price of homes in the location is $2.2 million.
Source: New World Wealth
Steve Proehl
Number of centi-millionaire residents: 200+
Number of centi-millionaires on peak holiday month: 70
Cost of living index: 160.4
San Diego is famed for its beach side homes and upscale neighborhoods. It's the second-largest city in California.
According to Realtor.com, homes in San Diego that's currently on the market are listed for a median price of $924,900. The most expensive home is listed for $28 million.
Source: New World Wealth
iStock / Dima_Rogozhin
Number of centi-millionaire residents: 200+
Number of centi-millionaires on peak holiday month: 82
Cost of living index: 481.6
Montecito is one of the most affluent places in California. It's located in the coastal Santa Barbara County.
According to Realtor.com, Montecito's houses have a median listing price of $8.1 million, one of the highest in the US. The town's most expensive home on the market is listed for $33.5 million.
Source: New World Wealth
bluefootage/Getty Images
Number of centi-millionaire residents: 200+
Number of centi-millionaires on peak holiday month: 6
Cost of living index: 305.9
Aspen is one of the most famous ski towns in the US. It's known for its mountainous landscapes and après ski scene.
According to Realtor.com, the median listing price of homes in Aspen cost $1.4 million. The town's most expensive home is currently listed for $100 million.
Source: New World Wealth
iStock / CapturedNuance
Number of centi-millionaire residents: 200+
Number of centi-millionaires on peak holiday month: 28
Cost of living index: 160.2
Napa is home to some of America's top wine vineyards. It's known for its vineyards and mild, Mediterranean-like weather.
According to Realtor.com, Napa's most expensive on the market is listed for $15 million. The city's median listing price for is $949,000.
Source: New World Wealth
Walter Bibikow/Getty Images
Number of centi-millionaire residents: 400+
Number of centi-millionaires on peak holiday month: 64
Cost of living index: 108
West Palm Beach is located in South Florida — 70 miles from Downtown Miami — and nearby former US President Donald Trump's Mar-a-Lago property. The city is renowned for its beachfront living.
According to Realtor.com, the median listing price of homes in the city is $435,000. The city's most expensive home on the market is li sited for $30.6 million.
Source: New World Wealth
Miles Astray/Getty Images
Number of centi-millionaire residents: 700+
Number of centi-millionaires on peak holiday month: 25
Cost of living index: 269.3
The Hamptons — about 100 miles from New York City — is made up of several seafront communities. It's known for being a holiday destination for wealthy families.
According to Realtor.com, the most expensive home in The Hamptons is listed for $150 million. The homes are listed for a median price of $2.3 million.
Source: New World Wealth
Demetrius Theune/Getty Images
Number of centi-millionaire residents: 800+
Number of centi-millionaires on peak holiday month: 160
Cost of living index: 122.4
Miami is the second-largest city in Florida. Miami ranked sixth as the city with the most ultra-high-net-worth individuals — or individuals with a net worth of at least $30 million — in the world.
According to Realtor, the median price of listed homes in the city is $590,000. The city's most expensive home is listed on the market for $59 million.
Source: New World Wealth
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